Track serial numbers easily & with great flexibility

The ability to track serial numbers & lot numbers is important for manufacturers & distributers who need to track items for variety of purposes including quality control, service management, warranty management, product recalls and as a theft deterrent.   What is a serial number & a lot number? A serial number is a unique number assigned to [...]

Assembly inventory: Making inventory for stock

Assembly inventory, or made to stock inventory, is inventory created for stock with the components used depleted from inventory and the new product (the assembly) added to the finished goods inventory. Assembly inventory: the benefits Assembly is commonly used by businesses that do light manufacturing or, in other words, businesses that purchase multiple inventory items and [...]

Managing inventory for increased profitability

Most people keep a pretty good eye on their cash.  Generally, they don’t leave it laying around, gathering dust, not put to use, uncontrolled. In the business world, inventory and cash, from an accounting standpoint, are pretty similar, both being considered assets. Yet, many businesses think of inventory only in terms of the items bought [...]

The human factor

Recently one of my associates suggested that I take a look at Kiva Systems. I looked them up on the web and watched their demo video. Amazing! They have completely rethought the problem of inventory receiving, storage, picking and packing. With the Kiva system, all inventory is stored on special shelving and the shelves are [...]

Planning for a comeback

Most of our businesses have not escaped the impact of the recession.   Some have had a severe downturn while others have had a more moderate negative effect. Regardless the current forecast of the economists that study these things is that we are coming to the end of the recession and, although recovery will be [...]

Turning inventory into cash: Inventory control is cash in the bank

My friend, Mike Glover, has told me many times, “Cash is cash and everything else is something else.” That may seem like an odd quote for an inventory management blog, but if you are like most inventory intensive companies, much of your cash is tied up in inventory.  The good news is that with a [...]

Software for inventory control & business management

Operating a business successfully in today’s tough environment requires knowledge, tools and advantages like never before.   Markets and trends change at a dizzying pace, we are bombarded with data (and most times little information), vendor performance can be erratic and customers expect things faster, better and cheaper. Where do you start?  With the control, [...]

Do you have too much inventory?

Ask most most manufacturing, retail or distribution businesses to list their top challenges, and inventory management  and control – specifically having the wrong or too much inventory – is always near the top of the list. There are numerous reasons businesses end up with too much inventory: overbuying from fear of potential lost sales; getting a “deal” from a supplier [...]