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Employees looking at their laptop and tablet PC in a warehouse.

The Differences Between FIFO and LIFO

Storing inventory efficiently is one of the key challenges of inventory management, and many companies use the principle of first-in, first-out (FIFO) principle to do so. FIFO is considered to be the ideal way to store inventory. This concept applies not only to inventory management, but also to the accounting

Construction workers overviewing a site.

Demystifying SKUs In The Context of Construction

Mastering SKUs is the key to communicating with your inventory so that it can work for you. Especially in the complex world of construction inventory management, SKUs, Stock Keeping Units, are the fundamental building blocks of your operation. Each SKU, a unique code assigned to items, speaks volumes, detailing the

A close up of a keyboard.

How Lean Manufacturing Works

In order to sustain growth in a fast-paced environment, manufacturers need to ensure quality and efficiency above all else. Lean manufacturing is a leading innovation strategy that minimizes waste and thus increases the efficiency of production processes. Anything that doesn't add value to the customer is considered waste.

Compare Private Labels and Dropshipping! Tips for Running an Online Business

Compare Private Labels and Dropshipping! Tips for Running an Online Business

Thinking about running an online store? If you've never run a store before, you might be wondering how you're going to get the products on your shelves, let alone sell them off the shelves. There are three main ways to sell your products: private label, consignment,

yield management, quality management, segmentation, managing quality, demand forecasting

Yield Management - How to Enhance it for Growth and Productivity

Yield management is paramount for companies looking to maximize growth and productivity in today’s hyper-competitive business landscape. It requires a comprehensive approach integrating data analytics, technology, and a deep understanding of consumer behaviors to increase revenue and improve operational efficiency. This article explores yield management to help businesses supercharge

what is sku number, how to track, what is stock keeping unit, how to create a sku number, sku code

Try SKUs. It Works Like a Charm.

In today's swift business landscape, efficiency and organization are crucial. SKU codes, integral to modern inventory management, allow companies to systematically track products and optimize operations. When combined with a 24/7 cloud-based inventory management system, businesses gain unmatched flexibility and scalability, ensuring readiness for market shifts and

Problems in Inventory Management and Their Solutions in 2023

Problems in Inventory Management and Their Solutions in 2023

Efficient inventory management is crucial for your company's success. Serving as the heartbeat of operations, it ensures the right products are available at the right moment and in the right quantities. However, many businesses overlook the importance of inventory management, and as per Zippia, 43% of small businesses