Merchandise Inventory Tracking and Accounting

Ship Monk

Any company that sells a product carries merchandise inventory with costs that need to be tracked. Since inventory is considered a current asset, its value must be calculated on a regular basis and reported in financial statements at the end of the year. What is Merchandise Inventory?

Inventory Management vs. Warehouse Management

The Logistics of Logistics

Inventory Management vs. Warehouse Management. Original article: Inventory Management vs. Warehouse Management. That may be because a company might already have an inventory system and wonders what additional capabilities they will get with a new WMS.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

Perpetual Inventory System

Ship Monk

Perpetual inventory. Well, a perpetual inventory system does constantly monitor the flow of products in and out of your warehouse, but there’s a bit more to managing the inventory than that. What is a Perpetual Inventory System? Perpetual Inventory vs. Periodic Inventory.

How Much Inventory Should I Have In My Fulfillment Warehouse?

Amware Logistics and Fulfillment

Inventory management has changed substantially in the last few years. Most fulfillment professionals spent years learning about lean inventory strategies, only to find those methods ineffective when the supply chain turned volatile during the COVID-19 pandemic.

Just In: Inventory Optimization Research

How are organizations performing on inventory optimization? How can new technologies help your team improve? Find out in this new research report.

What is Work in Process Inventory (WIP)?

Ship Monk

Any eCommerce business that manufactures goods has three different types of inventory at any given time: Raw Materials Inventory , Work in Process Inventory , and Finished Goods Inventory. When Does Inventory Become WIP Inventory?

How to Calculate Ending Inventory

Ship Monk

Do you know how to calculate ending inventory? This simple calculation tells you the status of your end-of-period inventory. Knowing how to calculate ending inventory and continually monitoring it is critical for growing your business and maintaining profitability.

Inventory Management in a High Inflation Environment

Logistics Viewpoints

Inflation’s effects on inventory management policies are likely far from top of the mind of Logistics Viewpoints readers in today’s challenging times. However, today’s elevated rate of inflation warrants a closer look at optimal inventory policies. Inventory Costs and Risks.

Beware the Swinging Pendulum on Supply Chain Inventory Practices

Logistics Viewpoints

Supply shortages resulting in empty shelves or parking lots of WIP inventory represent a spectre causing supply chain leaders to reconsider supply chain inventory practices. Opinion of just-in-time (JIT) as a practice has taken a battering and inventory is rising.

Inflation in 2022: Is the Bullwhip Effect to Blame for Retail Inventory Glut

Logistics Viewpoints

I did a little digging to find out the specifics about excess inventory, the stated causes, and the potential implications. Retailers’ Inventories – Just Keep your Returns? Unfortunately, I am unsure about the order of magnitude or the duration of these inventory mismatches.

How Does Your Inventory Optimization Process Compare to Peers?

The 15-question assessment takes only 5 minutes to complete. Take it now to see how your inventory optimization process scores and benchmark it against peers. Responses are aggregated and kept anonymous. We hope it serves as a thought-provoking exercise to improve your approach!

4 Easy Steps to Inventory Improvement

Logistics Bureau

Effective inventory management can be a constant struggle for most organizations. So here is a simple 4 step process to check your inventory health and improve it! A Concise Guide to Inventory KPIs for Your Business. 3 Common Inventory Management ‘Sins’—And How to Avoid Them.

A Concise Guide to Inventory KPIs for Your Business

Logistics Bureau

As we are often asked about KPIs for inventory management , that’s what we’re going to focus on in this particular post. You will also understand their notable benefits to the inventory management discipline. 10 Invaluable KPIs to Track Inventory Management Performance.

Managing inventory with ERP amid disruptions

SYSPRO Smarter ERP

In today’s business world, the success of a firm depends not only on its sales but also on the ability to manage its supply network and ensure it has the inventory it needs to deliver customer orders. In the past 18 months, many companies have increased their inventory levels.

ERP 69

Better Inventory Management Requires International Suppliers To Step Up to Digital Transformation and Collaboration

Logistics Viewpoints

While consumers may see some short-term benefit in the form of discounted goods, many retailers have had to reset investor expectations , reflecting the expected hit on margins from carrying so much inventory. Inventory management is challenging enough in normal times.

Complimentary Gartner Report: Improve S&OP Decision Making with Scenario Planning

Traditionally, planning teams have aimed for one number, one plan. But with uncertainty on the rise, they need to build more flexibility into their process to account for changing business conditions. It’s time to shift gears and embrace variability with different scenarios.

Deborah Dull on Inventory Thinking and How to Improve It

Logistics Bureau

Having published two of the interviews already in the last few weeks, I’ve gone ahead and written up the final one for you, in which Deborah talks about some key things that supply chain professionals get wrong when dealing with inventory. Every single thing you see is inventory.

Automated inventory tracking by drone 

Logistics Business Magazine

has formed a partnership with Vimaan , a technology provider delivering computer vision-enabled solutions for warehouse inventory tracking, control, and management. We believe near real-time 100% inventory accuracy and visibility across the entire warehouse is attainable.

Inventory Optimisation: How Much Stock is Right for Your Company?

Logistics Bureau

Among the universal challenges that the COVID-19 pandemic has imposed upon the supply chain management profession is the question of inventory, specifically, “how much is enough?”. It wasn’t long ago that businesses were asking, “By how much can I reduce my levels of inventory?”.

Re-imagining inventory management for a new normal

SYSPRO Smarter ERP

Inventory management was moving towards a just-in-time approach until the supply disruptions of the last year. Why inventory management is important. Active inventory management is a major contributor to manufacturing success. Inventory in the supply chain process.

Preventing Inventory Woes: Real Life Strategies to Optimize Inventory Deployment

Speaker: Paul Benhamou - Director of Supply Chain for Benco Dental, Andrew Kurpiel - Senior Director of Supply Chain for AmerCareRoyal, & Bill Benton - GAINS Co-Founder

Join three supply chain experts as they share their best practices and effective strategies for facing today’s most complex inventory challenges.

Warehouse Inventory Management Techniques to Increase Productivity

Cyzerg

Warehouse inventory optimization is a concern for every warehouse. In this article, we will discuss the importance and benefits of warehouse inventory management and some techniques to help increase productivity.

Inventory Replenishment Underway

Logistics Trends and Insights

Census Bureau inventory data, for June, indicates the need for inventory replenishment as the seasonal-adjusted sales to inventory ratio declined to 1.37 Total business inventories declined 2.3% for June/May while inventories declined 5.8% Inventory Replenishment.

Big data and inventory management

EazyStock

This is especially true in inventory management, where new technologies are being introduced all the time, and along with them, more and more data is being generated. The key for inventory management teams is to know what to do with it! Big data and the benefits to inventory managers.

The role of a Bill of Materials in optimizing your inventory management

SYSPRO Smarter ERP

Accurate BOM improves inventory flow, and material planning, giving a business the unique competitive advantage it requires. Here’s how BOM can help you manage your inventory. ERP for Inventory ERP Implementation Managing inventory with ERP

Automated Order Processing and Proactive Inventory Management

Speaker: Irina Rosca, Director of Supply Chain Operations, Helix

Organizations need to focus on demand driven supply planning, utilizing real time information on customer orders from all marketplaces (e-commence, Amazon - or other online retailers, and point of sale data from brick and mortar). Focusing on this information once per month during the S&OP meeting is too late for all business units to align. Companies should have seamless integration between order entry, inventory management, forecasting and supply planning models and purchase order status to sense risk, pull levers to mitigate potential risk, and communicate within and outside the organization. This is especially important for new product releases, in store programs or promotions (sales, end caps, PDQ. etc) or online promotions (company run or 3rd party). Depending on total supply chain lead time, not having real time visibility and analysis of this information can significantly affect sales and the bottom line.

Inventory Management’s Crucial Role in the Supply Chain

Kuebix

What is Inventory Management and Why is it Important? Inventory management refers to the process of ordering, storing and using a company’s goods or materials. Ineffective management can result in excess inventory which runs the risk […].

What is inventory management?

Globalior

Usually, companies do cycle counts to check inventory balances at the end of either each financial year or calendar year. However, what does the term “inventory management” really mean? What does inventory management mean? Types of inventory checks.

Driving Rigor into Your Inventory Control Practices Helps You Win the Race

Logistics Viewpoints

Kind of like managing inventory in your warehouse. Poorly managed inventory will cause stress in the operation between departments. Loss of sales from inaccurate or missing inventory leading to disappointed customers who may go elsewhere (and might not come back).

Why Is Promotion Planning Important In Inventory Management?

Logistics Viewpoints

Why should we consider Promotion Planning in Inventory Management? Whether it be e-commerce, brick-and-mortar, or both, retail companies care about the inventory they keep. Therefore intelligent inventory management benefits the business results as well as the brand image. .

Just in Time vs. Just in Case: What’s the Way Forward for Supply Chains?

Just-in-time supply chains worked just fine — until they didn’t. Is more inventory the answer? It’s not a binary solution. Read this latest GEP paper to learn how enterprises can ensure adequate supplies without running excess inventory.

It’s Just Inventory, Right?

3PL Insights

Why is there such a focus on inventory these days? One of those areas includes inventory management. Shortages, backlogs, labor, and operational challenges have increased inventory issues—either too much material or too little can send your business into a frenzy.

Inventory management with drones

Logistics Business Magazine

Inventory management may have just got a lot easier, writes Paul Hamblin, editor of Logistics Business Magazine. You will probably need to travel far and wide in the world of warehousing to find someone who doesn’t find inventory management a thankless task.

How AI is transforming manufacturing Part 2: Inventory management

SYSPRO Smarter ERP

Manufacturers have incurred significant financial losses due to supply chain disruptions and the subsequent inventory management challenges. Inventory management in the supply chain. Raw materials, work in progress, and completed items are the three primary forms of inventories.

Contract Manufacturing Supporting Inventories

LandLink

The Covid virus has presented production challenges for global manufacturing. Food, chemical and personal products companies, among many more, struggle to meet retail demand.

Key Questions for a Successful Distribution Network

Speaker: Irina Rosca, Director of Supply Chain Operations, Helix

If we're going to offer the speed of shipping and variety of inventory that today's customers have come to expect, there are a lot of different questions that need to be asked.

Nordstrom leverages pack and hold inventory to mitigate supply chain risk

Supply Chain and Logistics

Nordstrom and a number of other retailers are starting to keep more inventory, by buying larger lots and holding some. The fact that retailers are publicizing this means that they are starting to recognize that inventory shortage is a substantial … Continue reading → Logistics container shipping inventory safety stock shipping delays stockouts supply chains

The importance of 3PL inventory management in 2022

West Coast and California Logistics

These changes have all had a profound impact on how suppliers, distributors, and retailers manage inventory. These days, however, inventory is back in a big way – whether intentionally or not.

3PL 81

3 Strategies for Migrating Inventory to a New 3PL

Ship Monk

You remove all of your inventory from your current 3PL and ship it to your new fulfillment center(s) in one fell swoop. Strategy 2: Sending Inventory to Cover a Transition Period. In this case, you ship some of the inventory from your current 3PL to cover a transitional period.

Things People Get Wrong with Inventory

Logistics Bureau

What are the things that people get wrong in inventory? Robobyrne: Sins In Inventory Management. Supply Chain Secrets: Why Supply Chain Inventory Should Matter to the Finance Pros. Benchmarking Success: 5 Reasons to Care About Great Inventory Management.

Multi-Tier Supply Chain Application Enables Fortune 100 Company to Gain Visibility

A Fortune 100 company wanted to have seamless visibility, collaboration and synchronized planning with its multiple levels of suppliers. How did they do it?