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Replenishment Strategies for FBA: Avoid Amazon’s Low Inventory Fees
Selling on Amazon is a whole new world beyond selling on your webstore. There’s a lot involved in sustaining continuous sales on Amazon beyond just having products listed on the world’s largest marketplace. To set your Amazon business up for success, one of the main areas to focus on is inventory: the flow, the costs,…
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…
8 Things to Consider When Choosing an Inventory Management System
Once your business grows, makes more sales and deals with more inventory, you realize it’s time to upgrade from manual to software-based inventory management. Then, once it grows a little more, you may even outgrow the current inventory management tool and decide it’s time for a more sophisticated, feature-rich solution. The good news is that the right software can accelerate…
What Is Dead Stock and How Can You Avoid It?
On average, 20%-30% of a company’s inventory is dead stock — which is a sizeable concern. At its most basic, dead stock is inventory that’s impossible or very unlikely to sell. It’s a step above overstocked goods, which is at risk of becoming dead inventory unless it is sold or otherwise repurposed. Unsellable inventory is a huge…
Margin vs. Markup: How Are They Different?
Margin and markup are often mistaken or used interchangeably. Because you calculate both using the same variables and the two figures are closely related, it’s easy to mix them up. Understanding the difference between the two can give you a more complete understanding of your business so you can plan for long-term success. Let’s compare…
Barcode Label Printing
Printing barcode labels is an integral part of a complete barcode inventory software system. At some companies, stock and assets arrive with barcodes already applied with sufficient detail for the company’s process. If your deliveries do not have barcodes already, we can help. Finale Inventory’s barcode label printing software allows you to quickly label everything as it arrives and then control its use…
5 Tips for Stock Replenishment
When working in a retail setting, it’s essential to know how much product is ordered and sold. Cafes and restaurants need to examine their stock levels often, as the amount of product available can quickly shift day to day based on promotions, seasonal trends and customer spikes. For online businesses, knowing how much stock you…
Everything You Need to Know About Minimum Order Quantity
If you have an e-commerce business that’s considering adding another revenue stream with wholesale, you suddenly face the prospect of setting a profitable minimum order quantity for your goods. Whether you manufacture your products with raw materials or buy finished goods straight from a manufacturer, you’ve likely encountered an MOQ as a buyer. Maybe you’ve…
Just-in-Time Inventory: What It Is and How to Manage It
Just-in-Time Inventory: What It Is and How to Manage It Are you searching for ways to reduce your e-commerce inventory level and slash costs without affecting product availability and prompt order delivery? The just-in-time inventory management system may be your ideal solution. This article will cover everything you need to know about just-in-time inventory management…
Warehouse Inventory Management: The Ultimate Guide to Follow
When running a business, the most important thing you can do to keep your business afloat and successful is to practice proper warehouse inventory management. This is essential no matter the size of your business, and it’s especially imperative the more inventory you have to keep track of and coordinate. When your warehouse inventory is managed poorly, it can lead…
Backordering: What Is It and How Can It Impact Your Business?
Online retailers lose $22 billion annually when products go out of stock. One way to reduce those losses is to place an item on backlog. As a retailer, you may sometimes see this from your suppliers or consider using the strategy yourself. So, what does it mean when an item is on backorder? Under this scenario, customers…
Why You Should Be Using Multi-Warehouse Inventory Management
If you are looking to implement multi-warehouse inventory management, you can use many strategies and tools to handle the logistics involved and save on expenses. One of the most essential tools you need is cloud-based multiple warehouse inventory control software like Finale Inventory. Here are some of the most important things you need to know when managing inventory in multiple warehouses.…
What Is Inventory Turnover and How Do You Calculate It?
As an e-commerce business, your merchandise is your most valuable asset. It’s also one of your riskiest investments since your profitability depends on selling off your inventory and turning it into cash — also known as turning it over. When inventory is sold faster, companies have better cash flow and face fewer risks associated with…
A Complete Guide to WooCommerce Inventory Management
Inventory management can be a big job, so you want all the help you can get when you can get it. While in today’s modern age inventory management isn’t necessarily easier than ever, you do have a lot more assistance in the form of inventory management software. Of course, with so many technology options to explore, you may not know…
How to Keep Warehouse Stockrooms Organized and Not Overfilled
Keeping a clean and organized warehouse affects much more than just aesthetics. It can boost your efficiency, keep employees happy, reduce errors, minimize safety hazards and lower costs. There are many ways to optimize your warehouse, so let’s look at a few of the top strategies. How to Keep Warehouses Organized Follow these tips for…