Blog

Companies need to know the various types of methods used to manage stock. Here are the definitions and workings of the 4 stock management methods:

It is important for companies to choose and use a Warehouse Management System (WMS) with a variety of features offered. Here are 5 recommended WMS options for businesses.

Fast moving stock refers to products that have a high stock turnover rate. Meanwhile, slow moving stock refers to products that have a low turnover rate.

Work order, also known as a job order, in warehouse management is a formal document or instruction issued to carry out specific tasks or operations within the warehouse.

Shrinkage can hinder inventory management. Companies need to understand the causes of shrinkage so they can implement appropriate solutions.

Economic Order Quantity (EOQ) is a calculation method applied in warehouse management to determine the optimal order quantity with minimal inventory costs. The total inventory cost includes ordering cost and holding cost.

Inventory aging is a process of categorizing and analyzing stock inventory based on the age or duration that the stock has been stored in the warehouse.

Stock replenishment is the process of restocking or reordering inventory to maintain the desired stock condition and quantity. The replenishment process includes transferring inventory from reserve storage, production cycles, distribution, and even sales.

The stock storage method is a way or system used to organize stock items in a warehouse for further processing. Stock items are classified based on their characteristics, such as type, condition, or item attributes.

Safety stock is an inventory buffer prepared by a company to prevent stock shortages during uncertain market demand conditions. Factors that significantly affect this type of inventory often require a certain lead time before the ordered goods arrive.