Loading...

INVENTORY MANAGEMENT

A DIGITAL WAY OF INVENTORY.

Inventory (American English) or stock (British English) is the goods and materials that a business holds for the ultimate goals to have a purpose of resale (or repair).Inventory management is a discipline primarily about specifying the shape and placement of stocked goods. It is required at different locations within a facility or within many locations of a supply network to precede the regular and planned course of production and stock of materials.

INVENTORY

A DIGITAL WAY OF INVENTORY.

As an element of supply chain management, inventory management includes aspects such as controlling and overseeing ordering inventory, storage of inventory, and controlling the amount of product for sale.

CALCULATE THE “RIGHT AMOUNT” OF INVENTORY TO STOCK

Stocking the right amount of inventory is crucial. If you order too little, your customers will start looking elsewhere. If you order too much, there’s a chance you’ll be stuck with lots of extra stock that you’ll be forced.

DETERMINE THE “RIGHT PRICE” FOR MY INVENTORY

Economic Order Quantity is a formula that calculates the number of units your business should be adding to inventory order. This question is aimed at reducing the total costs of inventory management.

INVENTORY MANAGEMENT, A SOFTWARE FOR YOUR GROWING BUSINESSALL YOUR PRODUCTS, CUSTOMERS, ORDERS AND TRANSACTIONS BACKED UP, SYNCED AND SECURE IN THE CLOUD.

OUR INVOLVEMENT

Businesses incur costs to store, track and insure inventory. Inventories that are mismanaged can create significant financial problems for a business, whether the mismanagement results.

AVERAGE INVENTORY

Average inventory is a calculation comparing the value or number of a particular good or set of goods during two or more specified time periods.

PERPETUAL INVENTORY

Perpetual inventory provides a highly detailed view of changes in inventory with immediate reporting of the amount of inventory in stock, and accurately reflects the level of goods on hand.