Inventory Management Blog

Monthly or Weekly Forecasting Which one is right for you Published in Blog, Manufacturing, Retail, Wholesale - 03 July 2019

Monthly vs Weekly Forecasting

Which forecasting method is best for your business? The goal of Slim4 – Slimstock’s inventory optimization software – is to predict the future. Specifically, how much of an item you’ll need to meet customer demand. Predicting the future is hard work even using historical data. With our ever more interconnected world, the number of data
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Header Picture How to Tell You've Outrgrown Excel Published in Blog, Technology - 30 May 2019

5 Ways to Tell You’ve Outgrown Excel

How to know when your business is ready to upgrade from spreadsheet forecasting and ordering For many business folks, Excel is synonymous with demand planning and ordering inventory. It’s often the go-to choice because of its familiarity and seeming ubiquity. There’s a good chance that the computer you’re reading this article on right now has
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3 Ways Excess Stock Can Put The Brakes On Your Profits Published in Blog - 07 May 2019

3 Ways Excess Stock Can Put The Brakes On Your Profits

If you’re rolling a new hybrid CUV off the assembly line or chrome-plating exhaust tips for the aftermarket, the automotive industry runs on parts. In 25 years of working with manufacturers and distributors, we know that demand planning and inventory optimization are evergreen topics in the auto industry. Reducing excess stock can be a major
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Optimize your inventory by trimming excess stock Published in Blog - 12 April 2019

4 Steps to Trim Down Your Excess Inventory

Excess stock is bad for business. It takes up valuable warehouse space and costs you a lot of money while it becomes obsolete. And, 10% of the items in your warehouse will never be sold, according to Slimstock inventory analysts. These items are unlikely to bring in revenue, so why are you holding on to
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Use Slimstock's revised EOQ formula to find optimal order quantities Published in Blog - 11 April 2019

The EOQ Formula: From Theory to Practice in 7 Easy Steps

Unraveling the secret of optimal order quantities Whether it consists of raw materials or end-products: inventory is unavoidably one of the largest single assets on your balance sheet. In the manufacturing industry, around 37% of total costs consist of inventory costs, while for retailers and wholesalers even more than half of the total costs are
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4 Ways To Improve Procurement to Increase CSAT Published in Blog - 26 March 2019

4 Ways To Improve Procurement For Increased Customer Satisfaction

Andrew Thomas, founder of Skybell Video Doorbell, reports that it takes roughly 40 positive customer experiences to undo the damage of a single negative review. With stats like that, it’s easy to see why customer satisfaction influences customer loyalty, retention, and even your ability to attract new customers. If one element of a business’ product
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