Due to the global disruption of the pandemic, heated discussions persist around moving from “lean” supply chains that only focus on cost and efficiency, to more resilient and agile supply chains that ...

Inventory includes raw materials, partially finished goods and finished goods. A retail business may have finished goods awaiting shipment, while a manufacturing business may have raw materials and ...

Businesses that sell goods need to implement effective inventory control to keep track of assets. Businesses use two primary methods to calculate the ending inventory value: the gross profit or the ...

Organizations that correctly and thoroughly apply inventory optimization techniques can typically reduce inventories by up to 50% while improving or maintaining service levels. And yet the sad truth ...

Inventory classification and optimisation techniques are pivotal in modern supply chain management, offering structured approaches to managing diverse inventory portfolios. Traditional methods such as ...

Jeff is a writer, founder, and small business expert that focuses on educating founders on the ins and outs of running their business. From answering your legal questions to providing the right ...

Just months after snarled supply chains led to widespread inventory shortages, the proverbial pendulum has decidedly shifted to the other side. Now, companies have a different problem. They have ...

Learn what inventory accounting is, how it works, and key methods like FIFO, LIFO, and WAC. Includes real-world examples, tips, and best practices. I like to think of inventory accounting like ...

I'm a history buff, and that comes in handy when looking at the problems of inventory optimization. The whole idea of getting inventory to the right distribution center at the right time bears a ...

The requirements for retail success don’t get much more basic than the ability to accurately forecast customer demand. Even a mom-and-pop bodega has to have a pretty good sense of how many people will ...