Asset Infinity

  Inventory management is an important part of the business. It can impact your business in a negative or positive way that is why it is important to keep a sharp eye on your inventory. For instance, your day starts as a regular day but when you receive your first order you notice that you do not have stock either your team has placed it somewhere else or inventory is out of stock. Then more orders arrive it becomes complex to solve problems that is why it is important to keep track of inventory in the business. We all know that even a small mistake can be lethal for business. In this blog, we will learn how inventory management solutions can help your business efficiently? But let us know what is inventory management! So, any further ado, let us begin! What Is Inventory Management? At the ground level, inventory management is only appropriately managing stock to keep supply chains chugging along as expected. Clients depend on great stock administration practices to accept their or...

  Lots of organizations, especially online shopping systems, do not have inventory in stock but they don’t update the website as per the inventory availability as a result negative inventory happens. This can hugely impact business, for instance when customers order negative inventory assuming that they will get inventory but most of the time they do not get the required product. As a result, disappointment occurs to customers. What Is a Negative Inventory? Negative inventory is that inventory that is mentioned on the website, but you do not have physically, or you are selling inventory that you do not have stock to provide to the customer at that given time. They are very similar to  phantom inventory . Negative inventory is one of the most common problems in the  e-commerce industry , manufacturing industry, and all those industries in which inventory is a major part of the business. Negative inventory impacts your business because you are creating bigger issues for you...

  Inventory management is important for all organizations it does not matter. When you are a small organization, you can do it manually but when you are fast-growing organizations or big-size organizations then you cannot rely on manual inventory management. Inventory is very important for all types of organizations if you are thinking our business doesn’t rely on inventory then you need to think again because every business needs inventory somehow. But for retail organizations inventory is most important. To understand how you’re managing inventory; you need inventory reports and sales reports. But then again only a few organizations keep records of inventory management. Inventory reports can help organizations in showing much inventory they are using and how many are returned. So that they can take better decisions about  inventory planning  and management. What Are Inventory Reports? Inventory reports help in managing inventory and track records of inventory. It also a...

Are you managing Inventory efficiently? We know every organization tries to do the inventory management right way, but they are not able to do so! The reason is inventory management is not simple actually it is very complex! That is why the organization needs to implement inventory management software in the organization. The inventory management software market is growing! According to  Global Market Insights , “Inventory Management Software Market size crossed USD 3 billion in 2019 and is estimated to grow at a CAGR of over 5% from 2020 to 2026.” What Is the Inventory Management Process? The inventory management process allows you to manage inventory efficiently. It is the procedure of ordering storing and selling inventory. Also Read:  What Are the Various Strategies to Improve Inventory Management? This also includes management of raw materials, finish products, MRO (Maintenance repair operation) parts.  Supply chain management  to warehouse management is also pa...