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importance of demand forecasting, demand forecasting for inventory control

The Importance of Demand Forecasting

Getting the estimates of future sales is a prerequisite to optimizing your inventory management processes. In the ever-evolving business landscape, the importance of demand forecasting cannot be overstated. It’s a crucial element that employs predictive analytics to recognize what customers will want in the future for a product or

cross-docking, what is cross-docking, cross docking meaning, cross docking warehouse, what is a cross-dock warehouse.

A Closer Look at Cross-docking and its Benefits

An efficient supply chain can do wonders for the growth of your business. In fact, a survey found that 79% of businesses with strong supply chains gained a higher-than-average revenue. So, what can you do to make your supply chain more efficient? Well, cross-docking is a well-tested strategy that has

BoxHero Stock Out screen.

Three Ways to Edit Inventory History in BoxHero

Did an unexpected breakage or theft cause your physical inventory quantity to differ from your computerized inventory quantity? Or did a new employee accidentally record the wrong inventory information, resulting in an error in your inventory history? In these cases, BoxHero makes it easy to correct your inventory history by

A woman scrolling through an online store.

23 Ways to Survive and Thrive in the New E-commerce Landscape

The e-commerce sector is evolving, faster than ever, driven by technological advancements, now by AI, and ever-changing consumer behaviors across an ever-increasing number of touch points and sales points. To navigate this omnichannel commerce world, businesses need to adopt a multifaceted strategy, not just customer-facing but also deeper back-end issues

reserve inventory, abc analysis, buffer stock, inventory control software for small business, Inventory management

What is Reserve Inventory? Inventory Management Terms Explained

A well-managed inventory plays a pivotal role in efficient business operations. If you aren’t careful, you may find yourself facing stockouts with no buffer stock or reserve inventory as a backup. These events are pretty common when you aren’t clear about terms and concepts related to different inventory

wholesale distribution, inventory check, wholesale inventory management, barcoding stock, marketplace automation

Tech-based Solutions for Wholesale Distribution

The world of wholesale distribution is dynamic and highly competitive, and managing inventory efficiently can be your key to success. While large enterprises often employ cutting-edge inventory management technology, it's a different story for small businesses. Most small businesses still employ traditional manual systems for inventory management. However,

Shopping carts stacked in a supermarket.

How Walmart and Costco Manage Inventory

Walmart sells a wide variety of groceries, everyday household items, and more! How does a company as large as Walmart, with so many items to sell, practice inventory management? In the third installment of our "Learning inventory management from retail brands" series, we look at the inventory management