Inventory Management in Manufacturing: Tips and Techniques

Inventory

What Are Stock Keeping Units (SKUs) and How to Manage Them?

A stock keeping unit (SKU) is a specific type of product in a company’s inventory that is marked with a unique SKU code. Using SKU codes for inventory tracking allows you to avoid stockouts and overstocking, ensure effective picking and dispatch, and track inventory performance related KPIs.

By Madis Kuuse 11 min read

InventoryProduction planningSales

How to Manage Product Variants in Manufacturing?

Product variants are versions of products with variations in attributes such as color, size, material, features, pricing, etc. Even though selling a product with variants is quite clear-cut, managing their production can be a real headache.

By Madis Kuuse 9 min read

AccountingInventoryManufacturing Tips

Work in Process Inventory – What Is WIP and How To Calculate it?

We have all seen manufacturing depicted in cartoons. Basic resources are rolled into a factory, followed by loud noises and a smoking chimney. Then, shiny finished products emerge on the other side. In reality, manufacturing is a bit more complex. On their journey toward becoming final products, raw materials go through work in process inventory. […]

By Mattias Turovski 12 min read

InventoryManufacturing TipsSupply Chain

Material Planning – Definition, Tools, and Tips

Material planning is the process of figuring out what and how much is needed in order to produce goods within a specified timeframe, and ensuring the timely delivery of those materials. Accurate material planning can contribute significantly to the efficiency and profitability of a company.

By Madis Kuuse 13 min read

InventoryManufacturing TipsSupply Chain

What Is Economic Order Quantity (EOQ) and the EOQ Formula?

Economic order quantity is a supply chain management technique used to determine the optimal lot size per order. This is done in order to avoid stockouts and overstocking, thereby balancing inventory costs and opportunity costs.

By Madis Kuuse 9 min read

InventorySupply Chain

What is Consignment Inventory?

With eCommerce taking the world by storm and complex, continent-spanning supply chains the new normal in retail, selling goods on consignment is gaining popularity across diverse manufacturing sectors. In this post, we look at what is consignment inventory and weigh its pros and cons.

By Mattias Turovski 11 min read

InventoryManufacturing Tips

How to Use Inventory Tags and Labels to Organize Inventory?

Tagging and labeling inventory items can bring substantial benefits to your business. From increased stockroom control to better supply chain traceability, this post explores how inventory tags and labels can help further efficiency.

By Madis Kuuse 10 min read

InventoryManufacturing TipsSupply Chain

Inventory Planning – A Quick Guide

Inventory represents the very foundation of any manufacturing or distribution operation. Keeping the raw materials, WIP, and finished goods inventories at optimal levels is crucial for short- and long-term business success.

By Mattias Turovski 10 min read

InventoryManufacturing TipsSupply Chain

Purchase Order Management – Achieving Consistent Deliveries

For any manufacturing company that relies on components and raw materials from suppliers, purchase order management constitutes an important set of practices that can significantly simplify the procurement process. In this article, we look at how to achieve consistent success with your procurements using the best purchase order management practices and solutions.

By Mattias Turovski 9 min read

Inventory

What Are Stock Keeping Units (SKUs) and How to Manage Them?

How to Manage Product Variants in Manufacturing?

Work in Process Inventory – What Is WIP and How To Calculate it?

Material Planning – Definition, Tools, and Tips

What Is Economic Order Quantity (EOQ) and the EOQ Formula?

What is Consignment Inventory?

How to Use Inventory Tags and Labels to Organize Inventory?

Inventory Planning – A Quick Guide

Purchase Order Management – Achieving Consistent Deliveries

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Inventory

What Are Stock Keeping Units (SKUs) and How to Manage Them?

How to Manage Product Variants in Manufacturing?

Work in Process Inventory – What Is WIP and How To Calculate it?

Material Planning – Definition, Tools, and Tips

What Is Economic Order Quantity (EOQ) and the EOQ Formula?

What is Consignment Inventory?

How to Use Inventory Tags and Labels to Organize Inventory?

Inventory Planning – A Quick Guide

Purchase Order Management – Achieving Consistent Deliveries

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