Poor Inventory Management Could be Ruining Your Profit & Reputation

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When a business grows, a lot of small business owners feel pressured to keep their focus on the day-to-day challenges of the business.  That means seemingly mundane tasks, like inventory management, gets pushed aside. While counting inventory and restocking shelves might not seem like it should be a … [Read more...]

7 Best Practices for Fixed Asset Inventory Software

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Small businesses that don’t utilize fixed asset inventory software often encounter the pitfalls that can doom startups and companies with outdated infrastructure -- disorganization, poor security, lost or stolen assets, tax code violations and other issues. But due to inertia or even lack of … [Read more...]

As an Inventory Manager,
What Can I Learn from The Walking Dead?

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We all know the Zombie Apocalypse is going to happen – frankly, it’s overdue. We just don’t know exactly when the world-as-we-know-it will cease to exist. It could happen tomorrow or decades down the road. Not having a firm undead deadline is bothersome, but don’t use this as an excuse to delay … [Read more...]

Proper Inventory Management Drives Economic Growth

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Poor inventory management is one of the primary reasons small businesses fail. According to the State of Small Business Report, 46% of SMB’s with 11-500 employees don’t currently track inventory or use a manual inventory process such as tracking in Excel. This may be hard to believe, but ensuring … [Read more...]

What is Inventory Turnover Ratio? Everything you need to know!

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For many small businesses, the margin of error is small. Extraneous costs each month can be the difference between success and failure, which is why every small business owner should know about inventory turnover and how this commonly overlooked ratio can be efficiently managed to turn a loss into a … [Read more...]

Rock and Roll Heroes: Managing the Logistics of Live Concert Tours

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Everybody applauds musical performers, but few people appreciate some of the true heroes of live concert tours. These are the logistics and inventory managers who make sure that everything from musical equipment to souvenir T-shirts shows up on time and doesn't get lost to inventory shrinkage. These … [Read more...]

7 Supply Chain Predictions For 2015

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With the New Year now well under way, here are some supply chain predictions that could help make 2015 even better. Globalization The supply chain world is already a global one. Since markets are so interconnected all across the globe, parts come from different places in the world. It is crucial … [Read more...]

Inventory Management 101

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Almost every business carries inventory, regardless of the organization’s size. Inventory includes raw materials, work-in-progress, and finished goods. No matter which category a business’ current stock falls within, those items need to be counted and tracked. Accuracy determines whether a company … [Read more...]

Managing Inventory during the Holiday Season

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It doesn’t matter if you sell shovels or phones, during the holidays a lot of goods are flying out the door. Making a list and checking it twice makes sense for small business owners managing inventory during the holidays—otherwise known as a physical inventory audit. Rachel Ann Austin draws … [Read more...]

Year-End Write-Offs That Could Change Your Financial Statement

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With the calendar year drawing to a close, many businesses are looking at what can be done to improve their financial position for the new year. According to CNBC, there are a number of inventory and asset-focused activities that your small business can complete this month to help take advantage of … [Read more...]