Consigned inventory has the potential to be a very profitable investment. The benefits of consignment inventory include convenient, reliable goods for customers and steady profits for distributors. Below, we discuss consignment inventory best practices and common mistakes....
A vendor-managed inventory app is used by an industrial or medical distributor to facilitate the VMI process of replenishing onsite inventory at the customers' point-of-use location (where the customer uses the inventory in the course of conducting their operations, as opposed to selling the inventory). VMI apps help distributors and customers share inventory data seamlessly and make replenishment decisions collaboratively. Learn about important features of a VMI app here.
Point-of-use inventory is consumable inventory that is used in the course of business operations and it needs to be managed in a unique way. Here is how to manage POU inventory well.
The Amazon Smart Shelf was a cool little wireless weight pad for replenishment but alas... it is discontinued. Luckily, for companies that absolutely cannot stock out of inventory, there are still other inventory sensor technologies that can automate replenishment.
What you should know about inventory audits and how to make them run more smoothly
Inventory management software FAQs
Summary: A definitive guide to setting stockroom min/max levels based on actual usage data from the point-of-use. This article defines Min/Maxes, how to calculate them, how modern VMI apps that track usage can optimize min/max levels, and what the financial benefits are to letting an auto-replenishment app like eTurns TrackStock dynamically set your optimized min/max levels based on your current usage.
Are you still counting and replenishing point-of-use inventory in an “Old School” Manual way? While many are, perhaps now is the time to learn more about the efficiencies there are to be gained from auto-replenishing, and the variety of new smart devices there are to automate the cycle counting and replenishment process.
Ensure that you are investing in the best possible option for your organization’s inventory management practices by selecting an app that takes into account each of the following mobile inventory app features.
A large airline and an e-commerce company have approached eTurns recently to help them move from a Vendor-manged Inventory model to a Customer-managed Inventory model for managing their MRO inventory more efficiently. Both companies started their projects with supplier and product rationalization. Then they looked for an easy-to-use inventory auto-replenishment app that would help their employees be able to do guided cycle counts and usage tracking with min/maxes that would trigger auto-replenishment to any supplier and optimize their inventory.
