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Although the major public health scare of the pandemic has subsided in societies worldwide, the aftermath of COVID-19 is continuing to wreak havoc in unexpected sectors of the economy.  The retail industry, in particular, has been hit hard, prompting many wholesalers and retailers to rethink their inventory management strategies in

Have you ever struggled with managing inventory that's stored in multiple locations, distinguishing between new and returned products, or properly tracking items that have been moved from the warehouse to the office? If so, consider implementing a location-based inventory management system to address these concerns mentioned above. Companies

As a business owner or inventory management professional, you may have encountered the term "Omni-Channel strategy" or "Omni-Channel distribution." This strategy is widely adopted by retail companies to meet consumer expectations for seamless and convenient shopping experiences. Effective real-time inventory management is essential for successful Omni-Channel

There is a discrepancy between the inventory recorded in the system and the actual inventory held in the warehouse. Company A discovered this through inventory counts, which is the process of verifying the accuracy of the quantity of physical inventory against the system-recorded inventory. It involves physically counting the items

What do you need to manage inventory? For starters, you need items, warehouses, and people. Something else that is essential that may be overlooked is barcodes. Barcodes are essential for fast inventory tracking, efficient sorting, and organizing of items. While it is possible to manage inventory without barcodes, no one

The theory of Product Life Cycle (PLC) states that every product has a life cycle, starting with an introduction, development, growth, maturity, and decline. This blog explores what each stage of PLC entails and inventory management tips for each stage of product life.

Establishing optimal inventory levels is crucial for companies to achieve operational excellence and profitability. The companies need to forecast demand and find the appropriate reorder point for their inventory. This blog presents two effective methods of demand forecasting to optimize inventory.