How to Prioritize Excess Inventory for Clearance?
Excess inventory is a common issue that many businesses face. It can tie up valuable capital, increase storage costs, and potentially…
Best Practices for Inventory Planning to Prevent Theft and Fraud
Inventory planning is crucial in any supply chain management system. However, theft and fraud can pose significant risks, leading to operational…
How to account for the Hidden or Indirect Inventory Carrying Cost?
Inventory carrying cost is a crucial aspect of inventory management that often goes unnoticed. Understanding and accounting for these hidden or…
How can you address discrepancies found during inventory audits?
Inventory audits are crucial for ensuring the accuracy of stock records. However, inventory discrepancies found during these audits can lead to…
How to Calculate and Improve Order Fill Rate in Supply Chain Management?
Keeping your order fill rate high is critical in today’s fast-moving supply chain world. It directly affects customer satisfaction, operational efficiency,…
What are common inventory valuation errors? how can they be avoided?
Accurate inventory valuation is crucial for businesses of all sizes, influencing financial reporting, operational decisions, and overall profitability. However, several common…