5 Inventory Management Best Practices

5 Inventory Management Best Practices

Categorising inventory

Good inventory management starts with a solid business understanding of inventory best practices and the relationship between this and day-to-day inventory operations. Step One is really knowing the types of inventory your business supplies.

For example, businesses with fast moving inventory will generally need to maintain a higher level of inventory than slower moving inventory. To identify this, businesses can use techniques like the ABC analysis (or Selective Inventory Control), which provides a mechanism for identifying items that will have a significant impact on overall inventory cost, while also providing a mechanism for identifying different categories of stock that will require different management and controls. Within best practice inventory management systems, it is possible to create custom product groups and categorise inventory in line with this ABC analysis.

(more…)

simPRO Service   Simple Service Management

simPRO Service Simple Service Management

Would you like to increase your business productivity and profitability? Is it your businesses goal to deliver prompt, reliable service to customers every time? If so, simPRO Service is for you.

simPRO is highly practical service management software specifically designed for do and charge teams from five to five hundred providing quick and accurate quoting, invoicing and reporting.

(more…)