by Robert Brandon | Feb 2, 2023 | Workflows
ABC analysis is a technique used to make more informed decisions on how much inventory to carry. Businesses using this classification of inventory management place their products into three categories: A, B, and C. Items in “Category A” are high-value products and...
by Robert Brandon | Dec 2, 2022 | Inventory
Today we’ll be talking about ERP systems (Enterprise Resource Planning), sometimes referred to as ERP software. They’re similar to inventory management software, but there are some important distinctions. It’s generally accepted that an ERP system is...
by Olivia Barnes-Brett | Sep 30, 2022 | Inventory, Popular Now
Key takeaways There are 5 fundamental types of inventory: raw materials, work-in-progress (WIP), finished goods, maintenance, repair, and operations (MRO), and packing materials. Raw materials are the basic components used to create finished goods. If the components...
by Olivia Barnes-Brett | Sep 22, 2022 | Workflows
Key takeaways There are six main types of manufacturing processes: repetitive, discrete, job shop, continuous, batch, and 3D printing. Repetitive and Continuous processes are suited for high-volume, standardized products. Discrete and Job Shop allows for more...
by Olivia Barnes-Brett | Sep 16, 2022 | Accounting
Knowing how quickly stock sells gives businesses a good insight into their inventory management. No matter the size of your business or the industry you’re in, it’s important to know how long you hold onto stock so you can optimize processes. This is where...
