Category: Stock Control Knowledge Base
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Ins & outs of FIFO Inventory Management
What is FIFO? FIFO, or first in, first out is a type of inventory management. The principle is that the first item of a particular stock item should be the first one used. To facilitate this, FIFO inventory tracks the landed cost of the products received per purchase order. It knows how much each product…
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Manage Your Landed Costs with WorkGuru
What are landed costs? Put simply, landed costs are the total cost of your stock purchases after you take into account shipping, duties, handling costs and similar shipping fees. Basically, you can think of it as the cost of your stock plus the cost it takes to get it to you. It’s important to track…
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5 Ways stock control methods can improve your business
Why Stock Control is Important If you produce, maintain or sell a physical product, chances are that you’ll have stock on hand that’s essential to your business. Whether you’re managing raw materials, parts, finished products or all the above, stock control procedures are necessary to keep your business well-stocked and running smoothly. 1. Negotiate…
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5 inventory management techniques that just make sense
If you’re looking to improve, maintain or implement a new inventory management system or process, you’ll already know there is a lot to think about. That’s because stock control and inventory management are where real-world actions meet record-keeping, and you have to take both into account all the time! Every businesses’ needs and processes will…
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WorkGuru’s Par Levels Help You Maintain Your Stock
Do you have materials that you use all the time, or that are essential to your business? If there’s stock you are reliant on day after day, it can be very disruptive to run out of that product. The solution? WorkGuru Par Level controls! In three steps you can set your business up to keep…
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How to Reduce The Stock You Need in 5 Easy Ways
It doesn’t matter if your shelves are physical or virtual, keeping them well stocked is key to keeping customers happy and returning. But it’s not as simple as keeping the shelves full, the products you choose to stock and the ability to meet customer changing needs is also crucial. How much stock is too much?…
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4 Ways Bad Inventory Management is Costing You
Profitable metal fabrication is a careful balancing act… There are lots of factors you have to think about every day to keep things moving smoothly. Inventory Management should be on that list, as getting inventory management wrong can cost your business potential sales and cause increased costs. Regardless of whether your end product has ten…
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Top Reasons to Adopt a Stock Control Software in 2021
Depending on your industry, procedures and unique business needs, the answer to the question “What are the stock control methods that would work for my business?” will vary widely. However, there are a few key ways that all businesses could benefit from a software solution for stock management. Here’s our list of reasons you should…
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Reduce the Stock You Need in 5 Effective Ways
Stocking your shelves is one of the most important aspects of any business, no matter what you’re selling and whether your shelves are physical or virtual. Whether you’re a bespoke craft maker or a major sheet metal fabricator, you need to have ‘stock’ to keep customers coming back. But how much is too much?…
