Why Inventory Management Software Is Worth the Investment

Choosing where and how to spend money can be critical for small businesses. Some things simply have to be cut due to budgets. However, when it comes to tracking inventory, investing in inventory management software is worth it. It will pay for itself in a number of ways. Here are a few reasons you want to make this investment. Win the War of Inventory Shrinkage In a single year, retailers can lose a substantial amount of capital due...

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Learning the Principles of Effective Supply Chain Planning

Managing the supply chain is a crucial task in today’s business world. It’s critical to gaining a competitive edge in the marketplace, helping in the process of streamlining activities on the supply-side of a business and maximizing customer value. It’s important to remember there are many principles one must keep in mind when it comes to supply chain planning to get it done effectively. Otherwise, attempts at this process can become...

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Why a Vendor Managed Inventory System Is the Best Relationship

What is a vendor managed inventory system? The answer to that is pretty simple. In a vendor managed inventory system, it’s up to the vendor and not the retailer to make decisions regarding the maintenance of inventory levels of a product based on information provided to them by the retailer. There are a host of benefits to this kind of relationship between vendor and retailer. It’s because of this so many retailers are jumping on the...

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The Urgent Challenges of Supply Chains from the Pharma Side

Retail supply chains and pharmaceutical supply chains have a lot in common. The main similarity is consumers buy from retailers, not from distributors or the manufacturers themselves, and the rate of consumption, plus the methods of acquiring the goods, are almost the same. While there are more dire consequences when stock outs happen to pharmaceutical retailers, there are particular challenges in supply chain management that have to...

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