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Articles on Inventory Management

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FIFO vs FEFO: Which Stock Rotation Method Suits You Best

By | on 17, Apr 2019 |   Inventory Management

As far as inventory management best practices go, stock rotation is right near the top. It’s alongside other methods such as product lifecycle management or employing a POS system that monitors what c[...]

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A Beginner’s Guide to Cycle Stock

By | on 09, Nov 2018 |   Inventory Management

Deciding on the amount of inventory to carry to meet customer demand is not an easy task. After all, any decisions you make will have a direct impact on your bottom line. What makes it even more chall[...]

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How DotActiv Manages the Product Lifecycle

By | on 06, Nov 2018 |   Inventory Management

There are generally two distinct approaches you can take when managing the product lifecycle. One: you can complete this exercise manually, spot checking your retail data yourself and deciding when to[...]

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5 Factors that Affect Your Carrying Costs

By | on 05, Nov 2018 |   Inventory Management

Since the carrying costs associated with holding inventory can be significant to your business, you must be circumspect. Careful, firstly, of the type of stock you bring in because too much of the wro[...]

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5 Product Classification Mistakes to Avoid

By | on 24, Oct 2018 |   Inventory Management

There is real value in completing a product classification exercise. After all, once done, your stores are easier to shop, which means your customers spend more. Of course, you do need to be careful h[...]

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Managing the Complexity of Product Lifecycle Through Software

By | on 22, Oct 2018 |   Inventory Management

 If you’re in retail, you have to understand product lifecycle. More importantly, you need to know how to manage the lifecycle properly. If you don’t, you could find yourself sitting with dead stock. [...]

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How to Approach Product Classification

By | on 19, Oct 2018 |   Inventory Management

An accurate product classification goes a long way to helping you to please any shopper who walks into your store. You could even argue that it’s the foundation for long-term success. By presenting yo[...]

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A Beginner's Guide to Safety Stock

By | on 10, Oct 2018 |   Inventory Management

Safety stock is a strategic tool which is critical for effective inventory management. Invest wisely, and you can provide your customers with the right products at the right time. Fail to treat it wit[...]

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5 Ways to Reduce Your Carrying Cost

By | on 05, Oct 2018 |   Inventory Management

Here’s a fact worth remembering: your carrying cost - the total cost accrued by you for holding stock over a period - can spiral out of control if you’re not careful. It doesn’t help that your invento[...]

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How An Organised Back of House Will Lead to Retail Success

By | on 02, Oct 2018 |   Inventory Management

Your back of house might not be as exciting as your storefront or front of house. It might not get the recognition it deserves either. But that doesn't mean it's not essential. After all, fail to orga[...]

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