Inventory Management Techniques That You Need To Know About

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Inventory Management Techniques That You Need to
Know About
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Inventory management techniques that work for our
wholesale and distribution customers around the
world
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What Should You Care About Inventory Management?
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Downside of Inventory Mismanagement
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What happens if you take your eye off the
inventory management ball?
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First-In, First-Out (FIFO)
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SELL THEIR OLDEST STOCK FIRST TO REDUCE THE RISK
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Whats not to like about FIFO?
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First goods to be bought are the first to be sold
may not match all businesses. Some companies
stock both new and old goods
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FIFO method gives a better, more accurate
valuation of inventory on the balance sheet
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FIFO and Inflation Dont Mix
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THIS MEANS A HIGHER GROSS MARGIN, MORE PROFITS
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Why should you do this?
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FIFO method gives a better, more accurate
valuation of inventory on the balance sheet
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How do you assign A, B and C categories to your
stock?
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80 OF YOUR REVENUE IS GENERATED BY 20 OF YOUR
PRODUCTS
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Economic Order Quantity (EOQ)
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Economic order quantity (EOQ), in inventory
management, is the order quantity that minimizes
the total costs of inventory in a business
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EOQ v2AB/C
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Helps small and medium-sized businesses like
yours to answer the following
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Whats not to like about the EOQ model?
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Inventory costs under the EOQ model is finding
the optimal balance between
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Just-In-Time (JIT)
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Just-In-Time (JIT) Parts or raw materials are
ordered as and when they are needed in the
production process
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Whats To Like About JIT?
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JIT Isnt For Everyone
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Just one supplier to fail to deliver materials on
time, to shut down your entire production process
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More Inventory Management Techniques
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Which Inventory Management Technique Will You
Pick?
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management-techniques/