Inventory management methodologies, definitions, and best practices to manage and control your stock.
Wendy manages a clothing store. One day, Customer X orders a red, medium women’s t-shirt via social media. Assuming that there is available stock, Wendy confirms the order and promises delivery. However, the item is out of stock. The customer is naturally upset and...
Every business purchases goods and services from other companies. It might be paper and other office supplies, or it might be items you're manufacturing or selling. One thing is certain – the more items you purchase, the more difficult it is to keep track of...
Imagine running a sale on your website. You’ve been hyping it up, and your customers are ready to buy. The sale goes live and your hopes are high. Suddenly angry emails start pouring in, and past customers start complaining about your brand on social media. You...
Your order fulfillment process can significantly impact your business’s overall efficiency and success. If your fulfillment process is inefficient or broken at any stage, you could negatively affect customer experiences and possibly lose their business forever. You...
The inventory turnover ratios for each of your products can help you determine how marketable your goods are and how effective your marketing is. Inventory turnover is a crucial measurement for understanding how your business is performing. This metric can help you...
