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What Is A SKU Number In Retail?

Emily Usher | July 25, 2019 | Comments

Whether you’re preparing to launch your online retail store or simply looking to better organise your vast inventory, there are benefits to having a strong SKU architecture in place.

But what exactly are SKUs? Why are they so important? And are you using them effectively?

This article aims to give you a greater understanding of Stock Keeping Units (SKUs), with examples of practical uses so you can improve how SKUs are utilised in your eCommerce business.

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Topics: Inventory Management, Inventory Management Software, SKU

What Is Vendor Managed Inventory?

Nat Libby | June 10, 2019 | Comments

The bigger your business gets, the tougher it can be to stay on top of everything. One of the last things you’ll want to be concentrating on are inventory levels and product reordering.

Fortunately, a vendor managed inventory strategy can go a long way in maintaining a steady stream of inventory and ensure that your products are always in stock.

So, what exactly is vendor managed inventory? How can you convince your suppliers to take on the responsibility of maintaining their inventory in your store? What are the advantages and disadvantages to a VMI solution?

In this article, we shine a spotlight on vendor managed inventory and discuss its pros and cons so that you can decide whether or not it fits in with your business and strategy. 

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Topics: Inventory Management

Inventory Management Techniques (2019)

Aimee Manning | February 27, 2019 | Comments

How well you manage your inventory will ultimately determine the success and profitability of your online business.

Why?

Because without it, you risk losing money as a result of dead stock and unnecessary storage cost, but worse than that, you stand to damage your reputation and face marketplace suspension.

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Topics: Inventory Management

How To Calculate Inventory Turnover: Formulas & Examples

Aimee Manning | January 23, 2019 | Comments

While there are plenty of factors influencing the profitability of your online business, a healthy inventory turnover is fundamental to long-term success.

But what does inventory turnover actually mean? And how do you calculate it?

Also known as stock turnover and inventory turns, inventory turnover refers to stock rotation.

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Topics: Inventory Management, eCommerce

Inventory Analysis: Inventory Metrics Worth Tracking For eCommerce Growth

Aimee Manning | May 3, 2017 | Comments

The ability to accurately analyse your inventory performance can be the difference between business success and business failure.

Yet, inaccurate inventory reporting – or lack of reporting altogether – remains a huge challenge for many online retailers.

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Topics: Inventory Management, eCommerce Best Practices, eCommerce, Reporting