Buying unnecessary inventory costs your business money. Conversely, inadequate inventory can lose sales. Accountants and analysts have developed a number of metrics for judging how efficiently your ...

Adam Hayes, Ph.D., CFA, is a financial writer with 15+ years Wall Street experience as a derivatives trader. Besides his extensive derivative trading expertise, Adam is an expert in economics and ...

Inventory is one of the major concerns of a small business. Having what your customers need when they need it matters. Maintaining control of your inventory can be a challenge, however, as even in the ...

Learn how to automate inventory management in Excel with this free template. Track stock, log transactions, and avoid costly ...

Kelly Main is a Marketing Editor and Writer specializing in digital marketing, online advertising and web design and development. Before joining the team, she was a Content Producer at Fit Small ...

In machine shops, the “parts” — i.e., the raw materials, MRO supplies and equipment, works-in-progress, and the finished goods — are vital role in the success of the business. Without effective ...

Material requirements planning (MRP) is a computer-based inventory management system designed to assist production managers in scheduling and placing orders for items of dependent demand. Dependent ...

This guide was reviewed by a Business News Daily editor to ensure it provides comprehensive and accurate information to aid your buying decision. Effective inventory management is vital for any ...

The best inventory management software supports all of your business’s sales channels, streamlines order management and generates detailed reports. Many, or all, of the products featured on this page ...

Michael Amori is CEO and cofounder of Virtualitics. A data scientist and entrepreneur with a background in finance and physics. At the core of modern logistics and inventory management lies a web of ...

Artificial intelligence is now touching every industry, including retail, and retailers of all sizes are tapping into the ...