Inventory Management
24 June 2024
How to calculate reorder level: a step-by-step guide
Holding the optimal amount of stock in storage at any one time is more difficult than it sounds. eCommerce business owners need to strike the balance between being able to meet customer demand while avoiding unnecessary storage costs due to...
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12 June 2024
Economic Order Quantity: Explanation & EOQ Formula
An important part of running a business effectively is ensuring that you are getting the most value out of your storage and logistics costs. With so many micro-costs and variables involved in the supply chain, it can be difficult to...
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26 May 2024
Multi-Echelon Inventory Optimisation: Strategies for Efficient Stock Management
Optimizing inventory levels throughout the supply chain is a critical strategy in modern supply chain management, going beyond simply maintaining stock. Multi-echelon inventory optimisation (MEIO) is a sophisticated approach that allows your business to maintain the right balance of inventory...
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20 May 2024
What is Stock Control?
Proper stock control lies at the heart of effective inventory management and is crucial for maintaining a streamlined business model. By accurately managing stock levels, you can ensure that you meet customer demand without incurring unnecessary storage costs. This balance...
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17 May 2024
What is Consignment Inventory: A Guide to Boost Your Business Efficiency
Consignment inventory is a unique method of managing stock. Suppliers provide goods to retailers without transferring ownership until those goods are sold. This approach allows retailers to offer a broad range of products without the burden of purchasing inventory upfront....
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12 April 2024
7 Techniques for eCommerce Inventory Management
eCommerce inventory management ensures that your stock levels are maintained at a balance that meets customer demand while maximising cash flow.
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15 January 2024
How To Calculate Ending Inventory
Calculating ending inventory is a critical component for any business dealing with physical products. It’s the value of goods that remain unsold at the end of an accounting period. It is a key figure in determining a company’s cost of...
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5 January 2024
Why Inventory Management Is Important
Struggling with stock imbalances and inflated costs? Effective inventory management is the unsung hero in streamlining your business’s operations and boosting growth. Dive into our guide to discover why inventory management is important and how mastering this skill ensures optimal...
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28 November 2023
A Guide to Successful Returns Management
As an eCommerce business, it’s only natural that a customer may want to return a product to you. There are many reasons why a customer returns a product; sometimes it can be avoided, and sometimes it can’t. Returns management is...
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8 November 2023
What is dead stock?
It’s not uncommon for the number of SKUs a business sells to grow as the business does. When this happens, it gets much more difficult to manage inventory, and we can end up forgetting about those products lying on the shelf that nobody has bought.
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3 November 2023
How to Calculate Your Inventory Costs
For eCommerce businesses operating with large amounts of inventory, inventory costs account for a significant portion of their overheads. In this article, we’re going to take a look at the different types of inventory costs, how you can calculate your...
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18 October 2023
What does FIFO stand for? (FIFO meaning)
Welcome to a deep dive into one of the most straightforward yet impactful inventory management strategies: the FIFO method. Whether you’re managing a tech retail store or overseeing a large manufacturing unit, FIFO is a term you’ve likely come across....
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9 October 2023
Why Your Business Needs Safety Stock (And How to Calculate It)
It’s pretty common for brands to run out of stock. However, stockouts can do quite a bit of damage to both your business reputation and your bottom line. That’s why it’s important to have a strategy in place to ensure...
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8 September 2023
What is inventory management?
For businesses that deal with the sale of physical goods, inventory management is one of the most important skills to have. Good inventory management will result in less storage costs, less wastage, and more opportunities. It’ll also ensure a good...
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12 May 2023
What Is My Inventory Turnover Ratio & What Does It Mean?
Inventory turnover ratio is an important metric to track for any retail business, whether you’re a traditional brick-and-mortar store or an online eCommerce brand. Today, we’re going to take a look at what inventory turnover is, how to calculate it,...
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26 April 2023
The importance and benefits of demand planning
In the context of today’s highly competitive eCommerce market, as well as uncertain economic conditions, it’s more important than ever for businesses to try and squeeze every drop of value and efficiency out of their supply chain. In today’s article,...
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12 April 2023
Three inventory valuation methods and their benefits
Painting an accurate picture of your inventory costing isn’t exactly the easiest thing to do if you’re shipping a lot of orders each month. However, inventory management has a huge impact on profitability, so the more you understand which goods...
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12 April 2023
Stockout Costs: How Stockouts Can Impact Your Business
As a customer, there’s nothing worse than being super excited about a product only to find that it’s out of stock. You can double that frustration when you’ve checked out, and a few days later you receive an apologetic email...
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5 April 2023
What Are Backorders & How Can I Avoid Them?
We’ve all been there. A product you just need to have right now, but it’s on a backorder. It’s frustrating, annoying, and chances are, you’re going to head to another online store that can get the product in your hands...
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22 November 2022
Product sourcing: what, how, benefits
For eCommerce businesses, products are their bread and butter. While good products aren’t all you need to succeed (enter customer experience, a good distribution strategy, and a strong brand), it’s your products that will draw your customers in. How and...
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22 August 2022
What Does MOQ Mean?
Minimum order quantity is a requirement from some manufacturers for the minimum number of orders to be purchased at one time. This is required in order for manufacturers to remain profitable, as often they work on smaller margins and require large order volumes to generate enough revenue to maintain their business.
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23 July 2022
Inventory Position Guide – Why Inventory Positioning Matters
Inventory positioning refers to the physical location inventory occupies within the warehouse and the wider supply chain. Part of any supply chain or warehouse manager’s role is to ensure that inventory is positioned in the optimal location in order to...
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