Inventory Management: Tracking Expiration Dates

Why do you track inventory expiration dates? That is either because your business might be run by a regulatory agency that forces you to monitor inventory expiration dates, or it is just for inventory management when you want to sell the oldest inventory first before you sell the new ones. Tracking inventory alone is alreadyContinue reading “Inventory Management: Tracking Expiration Dates”

Barcoding: Key to Inventory Visibility

There are quite a few different ways to keep track of your inventory. You can either write everything down on paper, you can design a spreadsheet, or use excel, and create your own formulas. Or, you can create a lot of things easier by using an inventory management system to automate things for you.  InventoryContinue reading “Barcoding: Key to Inventory Visibility”

Top 5 Challenges of Inventory Visibility

When your inventory is hard to find or identify in the warehouse, it results in incomplete, inaccurate, or even delayed products or service fulfillment. Receiving and finding the right stock is vital to efficient inventory management and great customer experiences. Inventory visibility seems simple in meaning. It means knowing what you have on hand andContinue reading “Top 5 Challenges of Inventory Visibility”

Top 5 Benefits of Inventory Visibility

Inventory visibility contributes to maximizing growth and efficiency within the business. Sometimes in inventory management, it can be difficult to manage and oversee everything. Success in having ideal visibility over your inventory demands a lot of effort especially when you are doing the processes manually.  Not just in retail, but also in other industries suchContinue reading “Top 5 Benefits of Inventory Visibility”

Managing Commercial Staging Inventory

Now that almost everything is starting to go back to normal after the pandemic slowed down, the offices that implemented the work-at-home setup are now going back to their workplace. Those who gave up their offices entirely during the pandemic have started to look for spaces again. This gives business opportunities to Staging companies especiallyContinue reading “Managing Commercial Staging Inventory”

How to Manage Staging Inventory 

What is Home Staging in Real Estate? Home Staging is a vital element of the real estate industry. It is not just decorating, putting things where you think it’s best, and hoping that the design will come out great. Staging basically means preparing the home for a potential buyer. When selling a home, it isContinue reading “How to Manage Staging Inventory “

Inventory Shrinkage: Preventing Loss and Theft by Managing Inventory

What is Shrinkage? Inventory shrinkage means the number of products in stock falls below the number indicated on the inventory list. The discrepancy could be caused by clerical errors, damaged or lost products, or theft from the point of purchase to the point of sale. What are the Main Causes of Inventory Shrinkage? There areContinue reading “Inventory Shrinkage: Preventing Loss and Theft by Managing Inventory”

Why is Inventory Management Important for a Pharmacy?

What is inventory in pharmacy? Inventory is the biggest asset of any pharmacy. Pharmacy inventory refers to the contents of medicine containers and all prescription drugs. How you handle pharmacy inventory decides whether you maximize revenue or yield losses. Pharmacy inventory management is the life of business operations. Unopened, partially opened, in processed drugs areContinue reading “Why is Inventory Management Important for a Pharmacy?”

Managing Trunk Stock and Maintenance Spare Parts Inventory

The way we handle inventory is determined by the inventory kinds we have. When we think of inventory management, we normally think of direct inventory, which are raw materials for manufacturing, and retail or wholesale, which are direct inventory purchases that are shelved to be sold. What is spare parts inventory? Spare parts inventory refersContinue reading “Managing Trunk Stock and Maintenance Spare Parts Inventory”

Simplifying Inventory Management for Municipalities and Other Government Agencies

Municipalities are one of the busiest organizations. Unlike manufacturing and warehousing, this organization has different departments with numerous people needing supplies and peripherals to perform their jobs. The police stations, fire stations, and health units are some of those departments that need different types of supplies and equipment. Manual operations frequently result in misplaced orContinue reading “Simplifying Inventory Management for Municipalities and Other Government Agencies”