Calculating optimal order points and cost-effective order quantities can be a challenge. For example, do you buy in bulk and risk increasing stock holding costs? Or buy a little and often and potentially increase unit costs and transportation fees?
In this guide we share inventory replenishment techniques that will help improve your replenishment strategy and processes. Discover:
Simple but effective inventory replenishment methods
Factors that influence reorder quantities
The Economic Order Quantity formula
The benefits of automating stock replenishment processes
Demand forecasting techniques Demand forecasting techniques play a critical role in inventory management. If you can accurately forecast market demand,…
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5 inventory reduction strategies to drive cost savings
For businesses that carry non-perishable goods it’s tempting to order and carry surplus stock to help meet market demand and…
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8 causes of excess inventory and carrying too much stock
8 reasons why you’re carrying too much inventory Below we’re going to investigate why businesses end up with too much…