Losing Money By Not Using These 8 Inventory Management Techniques?

Read “Warning: You’re Losing Money By Not Using These 8 Inventory Management Techniques!” by Cassandra Campbell to learn more!  

I used to dread the word “inventory”. As a part-time cashier in high school, the word inventory only meant one thing: lots and lots of counting. It’s common for businesses to reconcile their inventory at the end of the year by counting up all their physical product and making sure it matches what’s on the books. For big companies like the one I used to work for, this requires all hands on deck!
silent killer of cash flow

These days, I understand just how important solid inventory management is. Inventory is a placeholder for money.… READ MORE

Analyzing inventory to maximize profitability

Every company strives to improve profitability. Countless hours are spent in meetings devising ways to lower operating costs while increasing sales and gross margins.

Analyzing inventory

Unfortunately, management in many companies assumes that:

  • All material currently in stock is necessary to properly serve customers.
  • Costs can best be reduced by lowering wages, reducing benefits, and squeezing any possible amount from the operations budget.
  • Salespeople should focus on increasing sales dollars and gross margin profit dollars. Buyers should order whatever salespeople request to help them achieve these goals.
  • New warehouse technology is an expense that cannot be easily afforded.
  • In the quest to maximize return on investment many organizations fail to scrutinize their investment in inventory.… READ MORE