One of the most important concepts in inventory management is categorization. By categorizing your inventory into A, B, and C categories, you will know what you have and how much you need to order. Experts recommend separating inventory into A and B groups, with A group items being higher-ticket, while C group items are cheaper and have high...

The best way to save money on inventory is to keep track of the parts and supplies that are most frequently used. By having a clear understanding of your inventory, you can pass along the "good deal" to your suppliers. Additionally, inventory management benefits your company by reducing holding costs, which are a major drain on your budget. In...

An effective inventory management system can help your business stay on track and eliminate costly mistakes. By using an inventory management system, you can monitor your stock level, identify potential mistakes, and even identify errors in your warehouse processes and reorder point formulas. For example, if you are a ski manufacturer and you need...