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Demand Planning With Inventory Management

By Finale Inventory / January 16, 2021

If you aren’t sure how much product your store or warehouse needs, it’s time to incorporate demand planning into your business. Demand…

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The approach you take to inventory and stock, regardless of your company’s size, will influence nearly every other part of the business. Everything from employee and customer satisfaction to productivity and sales can be improved with effective inventory and stock management strategies. Many retailers implement these kinds of tools, and they are critical if you…

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6 Reasons Why Excel Inventory Management Will Not Help You Grow

Many small businesses use Excel as their initial inventory management tool as it is easy to use and readily available on most computers. For a short while, using Excel for inventory management works just fine for many small companies. As their inventory management needs become more complex, business owners learn the hard way that Excel is…

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Why Does Inventory Management Matter?

If you’ve ever ordered something only to receive an out-of-stock notification a short while later, you probably already understand some of the reasons why inventory management is important. Organizing the items you have available to sell — plus the goods you need to produce your company’s products — will help you streamline your services and systems…

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Transitioning From a Physical Business to an Online Store

For retailers like you, taking your business online is the next big milestone. The trend toward online shopping has been rising steadily each year. In 2017, e-commerce brought in $2.3 trillion in sales, and by 2019, that number had increased to $3.5 trillion. By 2023, projections say total sales will rise to $6.5 trillion. One thing is clear — the internet…

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Different Inventory Types

Managing Inventory Types Inventory management is the balancing act of having the right amount of stock at the right time to meet demand. It involves predicting sales and ordering new stock just in time to meet that demand. Having too much inventory can cause issues for your company. In some cases, products can expire or…

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Anticipatory Inventory Management

If your business produces or sells goods, you know that it’s crucial to make sure your inventory includes enough stock to meet demand at any given time. For many businesses, anticipation inventory is an effective way to meet this need. What Is Anticipation Inventory? Anticipatory inventory management is the practice of procuring excess inventory to…

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The Importance of Sales Forecasting

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