What Is Inventory Management? Inventory management refers to the process of ordering, storing, and using a company's inventory. These include the management of raw materials, components, and finished products, as well as warehousing and processing such items. For companies with complex supply chains and manufacturing processes, balancing the...
/*! elementor - v3.6.2 - 04-04-2022 */ .elementor-widget-image{text-align:center}.elementor-widget-image a{display:inline-block}.elementor-widget-image a img[src$=".svg"]{width:48px}.elementor-widget-image img{vertical-align:middle;display:inline-block} Before selecting a warehouse management system (WMS), it's important to know what drives your company so you can identify the key needs you want the solution to address. Steve Hitchings, senior vice president of information...
Drive up profits for your company – Use an inventory management software To start off with the very basics, inventory management is a component of the supply chain which supervises the flow of goods from the manufacturer to the warehouse. From there, these facilities are then...
An inventory management system can help you manage your business’s inventory and stock items, keeping track of exactly where your assets are and what they’re worth. The system also analyzes your business’s inventory needs and can even automate your ordering. Inventory management systems are important...
If you're standing in the middle of a big retailer such as Wal-Mart, and you look around, you're witnessing one of history's greatest logistical triumphs. Retailers such as Target, Lowe's and Best Buy stock tens of thousands of items from all over the world. Wal-Mart...
For manufacturers, inventory management can be one of the most complicated aspects of the many roles they have to fill. It defines every other activity internal to a manufacturing company, and is central to the interactions between manufacturers and their customers. Despite its importance, quite...
Although the terms inventory management and warehouse management appear to refer to the same type of materials management in industry, in reality there are subtle differences between the two. Understanding the differences can be important for company managers and owners to realize, because the type...
The digitization of inventory and maintenance processes is helping Michigan better manage its 4 million acres of state forests. About 150 foresters regularly use the Michigan Forest Inventory (MiFI) system to manage the state's forests, collecting data on tree types and making recommendations for prescribing controlled...
What Are You Going to Do Differently in 2018? In a few weeks, we’re going to hit another New Year and list yet another year’s worth of resolutions. What goals do you have in mind for your business in 2018? How about taking a hard look at...
Warehouse management is always evolving, and companies must keep up with new happenings in the industry if they hope to outlast their competitors. The following are three major supply chain management trends that are helping companies meet their logistical challenges: 1. The World of IoT More than ever...
