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5 Essential Shopify Apps for Faster E-Commerce Growth
Navigating the Complexities of a Growing Shopify Store As your Shopify store progresses from a startup to a thriving business, you’ll encounter new challenges that can complicate your operations. These challenges include managing increasingly complex inventory, expanding your product catalog, and managing customer experience and retention. Adopting the right Shopify app tech stack is essential…
What is the Difference Between Lots and Serial Numbers?
Controlling your inventory — whether you have one facility or dozens — can be a daunting task. With hundreds and thousands of products entering and exiting your site each day, how do you keep track of everything? The best solution is to organize your merchandise via lot tracking and serial numbers to keep tabs on…
Leverage Sales Velocity Reordering to Make Smarter Data-Driven Business Decisions
With every passing month, the numbers of sales transactions continue to grow for each Finale customer. We have unlocked this valuable data by providing insightful sales velocity data to allow you to quickly learn how well a product is selling and to leverage sales velocity reordering to make smarter data-driven business decisions. What Is Sales…
How Kitting Can Save Your Business Money While Being Sustainable
Kitting is another word for product bundling. It refers to combining multiple products from a business, usually following a theme, into a singular set to sell to consumers. You likely most often see examples of kitting in your favorite fast-food restaurant’s drive-thru line and in holiday raffles or charity events where you might enter for a…
5 Ways To Guarantee a Successful Warehouse Management System Implementation Project
Are you finding that warehouse management is not all that it could be? Are you running into problems such as misplaced stock items, misrecorded inventory numbers, long shipment and delivery wait times for customers and more? If so, these problems can cause serious issues for your business if they are not fixed quickly and for good.…
Amazon Inventory Management: 5 Tips on How to Tackle Disorder for Efficiency
Have you ever thought about the size of Amazon’s inventory? As the world’s largest online retailer and most dominant online marketplace, you can bet that their warehouses are stocked to the brim with all sorts of products. In fact, when you think of all the items Amazon has stored and readily available for sale and shipment, the might…
10 Ways to Utilize Magento Inventory Management to Grow Your Business
Everyone starts with a small business, but over time you want it to grow and flourish. Growth comes in many forms, from an increasing customer base, growing stock and inventory, new brick-and-mortar stores and more international accessibility for online stores. Of course, a strong business ethic is also an essential part of fostering growth in your company, but you still have to embrace useful technological tools. One…
Selling CBD Online: A Quick Guide
The hemp compound CBD receives a lot of attention in today’s market. CBD oil and other wellness products containing CBD have rising popularity in consumers looking for natural health remedies. If you want to tap into this emerging market, you need to do your research. This guide will give you an overview of the online…
Markup Pricing: How and When You Should Use It
Businesses rely on various pricing strategies to find the best price for their products to drive sales and maximize profits. After considering production, overhead and marketing costs, a company must then decide what percentage they’ll need to mark up the selling price to cover costs and make a profit. What Is Markup Pricing? How to…
How to Use QR Codes for Inventory Management
Inventory management is a complex operation that requires fast and accurate product tracking and a well-organized database of information. Quick response (QR) codes efficiently record product information and trace each item’s path along the supply chain. QR code inventory management is an easy solution to make your warehouse a powerhouse of efficiency. QR codes are squares…
What Is Obsolete Inventory and How Can You Manage It?
For companies of all sizes, an important part of the business is ensuring that you do not have too little of an item or service to fulfill customers’ wants, but not so much that you don’t sell enough of your products. Understocking and overstocking can harm a company monetarily and can harm its reputation if…
5 Tips for Boosting Your Inventory Performance Index (IPI) Score on Amazon
Are you an inventory director or in charge of ordering and managing inventory for your company? Managing inventory is a large task for small businesses and large businesses alike. If you do any e-commerce on Amazon, you’re going to want to know about an Inventory Performance Index score. Do you want to increase your company’s…
The True Costs and Hidden Expenses of Bad Inventory Management
Though it may seem counterintuitive, too much inventory isn’t good. In fact, the costs of bad inventory can be steep for a business — you could lose both money and time to poor inventory management. In serious cases, you could even lose your business altogether. Every company, from small businesses to mega-corporations, can be severely negatively impacted…
How to Calculate Cost of Goods Sold for Your Business
Your cost of goods sold is an important accounting metric that can indicate your company’s financial health. You’re also required to report your COGS to the IRS, making calculating your COGS an essential part of doing business. Let’s go over the formula for COGS and talk about why this figure is so important. What Is…
Black Friday and the Holidays: Having Enough Inventory for the Buying Season
For retailers, preparing for the holiday season can be daunting. Black Friday kicks off a buying season unlike any other throughout the whole year. Did you know that between Black Friday and Christmas, 30% of all sales for the year occur? This uptick in sales means stores must shift their operations during the holiday shopping season if they want…
Bill of Lading for Hazardous Materials
When a company ships a product, particularly a hazardous material, it needs to know that the company that ordered it has received it. It also needs to ensure that the product makes its way safely to the recipient. Shippers, carriers and retailers rely on Bills of Lading to ensure that a product is shipped safely…
How to Design a Warehouse Layout for Optimization
The importance of a practical warehouse layout design is significant for your operations. A good layout allows for better efficiency of movement and worker productivity. Plus, better layout designs ensure easier transitions to high-tech solutions such as using mobile barcode scanners for receiving or picking orders. All designs start with creating a plan to solve…
Perpetual Inventory System
If your business uses a periodic inventory system where you frequently update your stock levels and conduct physical stock takes, the idea of an inventory system that updates automatically in real time sounds pretty enticing. Indeed, transitioning to a perpetual inventory system has many advantages, including saving you time and providing you with more accurate…
What You Need to Know About Demand Forecasting
To remain competitive and profitable, you need to do more than stock the right products. You need to stock the right product in the right quantity and at the right time. Effective demand forecasting helps you achieve this year after year. If you’re curious about this forecasting for your business, learn what you need to…