It’s time-consuming and expensive to keep track of your inventory. You know you need to optimize the process, but there are so many metrics to manage—you can’t even begin to think of ways to cut costs. And more importantly: you aren’t even sure if your current inventory tracking process is right for your business. How can you…
Tag: inventory management
Expert Guide on Dropshipping vs Ecommerce
In today’s business world, online companies are growing more and more. Technology and business intelligence have brought multiple opportunities for vendors that intend to take advantage of innovative ideas and new business models instead of starting a traditional brick-to-mortar company. Thus, eCommerce and dropshipping businesses are in today’s pick! Let’s move forward into explaining more…
Inventory Control vs Inventory Management: Is There Any Difference?
The whole process of managing inventory is complicated and has many different steps to it. You not only need to manage stock itself, but also all the daily activities that come with it. This is where inventory management and inventory control come in. While the terms sound similar to each other, they have key differences….
What Is A SKU In Inventory Management? The Ultimate SKU Guide
If you are preparing to start a business or already have a company that deals with stock, you probably have heard about what is SKU in inventory management. You might even be already familiar with what it means and how to implement it. But many people lack a full understanding of SKUs. It’s important to…
Five Of The Most Important Types of Inventory Risks
While inventory management is beneficial and necessary for businesses that handle physical stock, it comes with some risks. Those risks can have a big impact on the whole process of stock management as well as on customer satisfaction. Also, most of the time you can avoid them but other times you cannot. Since companies invest…
“Out of Stock”: 3 Inventory Management Horror Stories You Need to Learn From
Inventory management problems are no theoretical issue. In fact, it’s still with us in 2022. Let me share an example: Earlier this year, I was shopping for spinach at one of the larger supermarkets in my neighborhood in Toronto. The only options were salad greens… however, like Popeye, I prefer spinach! I ended up tracking…
From Physical Retail To Ecommerce: Integrating Great Online Tactics
Editor’s note: This post was orginally published in October 2017 and was updated in June 2022 for accuracy and comprehensiveness This is a guest post by guest contributor Mitch Pazanski. Shopping at traditional brick-and-mortar stores might be a lot of fun. Shopping online though can be far more convenient. When we’re slumped on the sofa…