Take your inventory and logistics management to the next level with an impact recorder

A savvy business owner is always looking for ways to save money, cut costs and protect their own inventory while simultaneously ensuring they take care of the customer. One major pain point along that journey is damaged inventory, equipment or supplies. A solution to the problem of protecting your assets is necessary both for loss prevention and saving money.

Inventory and logistics management

A superb way to take up a defensive position in your own inventory and logistics management is to use an impact recorder to keep an eye on what’s happening with your equipment, measuring and preventing damage in the process.

What is an impact recorder?

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Understanding Inventory Management Software

If you have been in one of your city’s larger supermarkets, take a look around you. Right in that moment, you are bearing witness to one of humanity’s largest victories in logistics.

Using inventory management software

All these big shops move products around and across multiple storage units and store fronts from all corners of the world. One of the biggest retailers we know today has been reported to own warehouses in at least 50 countries. And when we convert these numbers into money, we could probably come up with a number similar to a the GDP of a medium sized country.

Given these huge numbers also comes immeasurable complexities.…

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4 Benefits of Switching to an Online Inventory Management System

There are several reasons why more and more people are turning to online platforms to shop. For one, they have a wider range of products to choose from, which may even include items that are only available overseas. The price points are also quite competitive and various payment options can lead to even more savings for the customer.

Using online inventory management system

But perhaps the most compelling reason for most people to buy online is convenience and speed. In fact, customers expect businesses to do everything they can to deliver the products on as quickly as possible, especially if the online store makes the delivery earlier than the promised date.…

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How to Create Smarter Inventory Management Solutions

Inventory management is about much more than just tracking down missing items. It’s about increasing your business’s efficiency, keeping shrinkage as low as possible, and ensuring that inventory counts are accurate. With accurate counts, you’ll never over-order, and you’ll always have your customer’s favorite items in stock.

A happy customer is a paying customer after all, so why not keep your inventory counts accurate? Here’s how to create smarter inventory management solutions for your business.

Man pointing at area of inventory management chart

Start with Your POS System

If you’re using a bulky, outdated cash register for your POS needs, it’s time to upgrade and move into the future.…

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4 Tips to Keep Better Control of Your Inventory

Inventory control isn’t just an issue for small business owners, it has almost shut the doors of major corporations. According to reporting by Business 2 Community, JP Morgan lost a staggering $6 billion in 2012 due to inventory spreadsheet errors. They also report that Hershey’s once failed to deliver $100 million in candy to stores in time for Halloween due to a failure in their supply chain system. It’s easy to see how quickly poor inventory control can put your business into an unstoppable free-fall, but difficult to know how to actually tackle it.

Inventory management and control

From the automotive business to medical field, there are ways to get a better handle on your inventory to keep your business running smoothly and profits intact.…

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7 Rookie Inventory Management Mistakes to Avoid in Retail

Inventory management is one of the most vital elements to the success of a new retail business. Keeping track of your inventory levels at all times helps you find products quickly (when you need to serve customers), understand your most popular and least popular products, identify sources of loss, and monitor and improve your profitability.

Inventory management mistakes

Unfortunately, inventory management isn’t as straightforward as it seems on the surface, and most new retail entrepreneurs end up making serious mistakes in the creation or execution of their overall strategy.

The Biggest Mistakes in Inventory Management

These are some of the most common and devastating mistakes new retail businesses make in inventory management:

1.

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Managing Your Inventory for Next to Nothing

Inventory Management Software as a Service

As the owner of a small and medium-sized business, it’s understandable that you want to keep your business overheads as low as possible. However, in this age of cloud applications and software-as-a-service, there’s simply no excuse not to embrace software and technology at every turn in your business.

Inventory management solution

Right now, you’re probably using email, calendaring, tasks and collaboration applications for free. Your business absolutely depends on these applications. But if your business deals with products, or if you’re a wholesaler or distributor, then you can add inventory management software to this list.

What Can It Do For Me?

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8 Huge Inventory Management Mistakes

Inventory management is way more than taking a tally of boxes in your warehouse every six months. In fact, an updated inventory management system can give you all sorts of insights into your business, from tracking seasonal trends to understanding why certain products aren’t selling. Yet, plenty of companies continue to perform manual counts, making all sorts of egregious mistakes that cost their business vital money and time.

Inventory manager is making inventory management mistakes

Here are some of the worst inventory-related blunders made by more businesses than you might expect.

1. Refusing to Spend Money on Inventory Tools

Among new business owners, there is a rampant misconception that all you need to manage your inventory is paper, a writing utensil, and a strong ability to count, so it seems that spending money on inventory management tools is a massive waste.…

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How to Effortlessly Control and Track Your Inventory

Savvy inventory management is crucial to streamlining business operations, meeting customer demand, and improving profitability. While many business owners start selling without a clear inventory strategy in mind, keeping track of and controlling inventory levels effectively is vital to growing over the long term.

Inventory management

Here are some of the inventory management considerations every retailer or wholesaler should know.

Key inventory management stages

Foundation: Inventory management should start with a fundamental system of categorizing and naming products. Giving each product an SKU (stock keeping unit) ensures all your inventory is uniquely identifiable and easily tracked. SKUs can easily be created for products using an SKU generator.…

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What Every Small Business CEO Should Know about Inventory Management

CEOs of small businesses are generally expected to know a lot about running a business. However, there are some, especially the less experienced ones, who may need to get more acquainted with important matters such as inventory management. For small businesses, being able to properly monitor and manage inventory is a must. The failure to do so can lead to dire consequences.

Small business owners

Inventory Management Is Extremely Important

Good inventory management is a vital part of running a small business. Even service-oriented companies have inventory to manage, although not to a point that requires meticulous attention or the aid of an inventory management platform.…

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