by Robert Brandon | Mar 24, 2025 | Inventory
Key takeaways Inventory accuracy reflects how well a business manages its stock and helps prevent issues like stockouts and overstocking. The inventory accuracy formula is: Inventory accuracy= (counted units / on record) * 100 Barcodes and warehouse management...
by Jared Plumb | Jan 13, 2025 | Inventory
Key takeaways Automated inventory management systems use barcodes, real-time updates, reorder points, and integrations to reduce human error and increase speed. The benefits of automated inventory tracking include improved workflow efficiency, fewer errors, and...
by Robert Brandon | Oct 28, 2024 | Inventory
Key takeaways Inventory shrinkage is the loss of stock due to factors like errors in inventory management, damage, or theft. High inventory shrink will increase the cost of goods sold (COGS) and decrease profit margins. Poor inventory management techniques, human...
by Jared Plumb | Sep 18, 2024 | Inventory
Key Takeaways MRO inventory stands for maintenance, repair, and operations. It’s a specific class of inventory that refers to materials and supplies used to keep business operations running. MRO inventory is not a part of the final product. Properly...
by Robert Brandon | Aug 13, 2024 | Accounting
Key takeaways Fill rate is a KPI that measures the number of orders a business is able to fulfill. Businesses can use this metric to identify problems with their inventory management, productivity, efficiency, and demand forecasting accuracy. The fill rate...
