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Inventory control aims at two basic objectives: to minimize the cost of storage and to provide excellent customer service. The availability of an excellent stock and the constant and correct balance of stocks are fundamental for the company’s profitability. The reason is that stock outages could cause delays or complaints from customers. Moreover, an overstock…
It is therefore imperative that a company periodically carry out inventories in order to ensure the reality, exhaustiveness and correct valuation of its assets and liabilities during its financial year. The inventory of stocks provides supporting documents for goods, raw materials and finished or outstanding products that are the property of the company, regardless of…
The control of fixed assets goes beyond having a list of everything that a company owns.This implies continuously monitoring the performance of each asset to obtain in this way the total budget to spend on them. However, the same amount of assets often turns out to be a problem and ends up complicating the proper…
Inventory monitoring and control is a core activity in your company since having reliable visibility of it you can make better decisions in addition to reducing costs by not carrying excess or shortage of merchandise and therefore offer a better service to your customer. Also, having optimal inventory levels can help you free up cash…
The correct order and management of inventories is one of the main factors that affect the performance of companies and the profits obtained. Therefore, it is vitally important for companies to have a well-managed and controlled inventory. The focus in this area should be to maintain an optimal level so as not to generate unnecessary…
Out of stock occurs when an item is not available at the time the customer is ready to buy it. Out of stock has been found to be one of the main factors influencing customer satisfaction. The consequence of not having a certain product, size, quantity, sizes, etc., is that the customer becomes frustrated and…
A system to control inventory is a useful tool to keep our internal processes optimized. It is also important to be clear that our merchandise in stock is money that does not move, its correct rotation and flow will directly impact our profits and profits. Having an adequate sales system, which also controls our stock,…
Optimal inventory management involves controlling merchandise from when stock levels require replenishment, until it is delivered to the customer. And this happens through orders to suppliers, reception, control and storage, etc. For many types of businesses, stock control is key to their success. It is part of the supply chain. Inventory management is a key…
Inventory is an essential part of many businesses. Essentially, inventory is the storage of products that are revered by consumers in order to make a profit. Additionally, in some cases, inventory also includes what the business uses to keep the business up and running, for example, the storage of cleaners is considered inventory for a…
When a company takes the advantages of an inventory management solutions they will immediately see the benefits of these solutions. Companies that have firm control of their inventory know their business value, their product value, what products they will need in the future, and precisely how much product is needed. Good inventory and warehouse management…
