INVENTORY MANAGEMENT
ALL INVENTORY ISSUES HAS BEEN SOLVED
Shipp X Company integrated with the leaders of e-commerce platforms, Shipping companies, SMS & Payment gateway.
The biggest issue for any warehouse owner is inventory management! Stop using excel sheet and start using the right way one dashboard to know each and everything if you have one or multi warehouses.
Simply control your inventory 99%
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Inventory per client
If your client asks for a cycle count per week or month then you can easily use our technology to start managing client stocks and the result will be reflected directly into the client portal.
Real-time Inventory Tracking
This feature allows businesses to monitor their inventory levels accurately at any given moment, helping to prevent stockouts and overstocking
Multi-location Inventory Management
Capability to manage inventory across multiple warehouses or locations, providing visibility into stock levels at each site and facilitating efficient distribution.
Additional features
1
FIFO: First In First Out.
2
LIFO: Last In First Out.
3
Expiry Management.
4
Out of stocks.
5
Near to be out of stocks.
6
Near to be expire.
Why is inventory management important?
Inventory management is important for several reasons. First, it helps ensure that a company has the right amount of stock on hand to meet customer demand without incurring excess carrying costs. Second, it helps minimize the risk of stockouts, which can lead to lost sales and unhappy customers. Finally, effective inventory management can help improve cash flow and profitability by reducing inventory-related costs such as storage, handling, and obsolescence.
What are some common inventory management techniques?
Some common inventory management techniques include ABC analysis, economic order quantity (EOQ) analysis, just-in-time (JIT) inventory management, and vendor-managed inventory (VMI). Each of these techniques is designed to help companies optimize their inventory levels and minimize carrying costs while still ensuring adequate supply.
How can companies reduce inventory costs?
There are several strategies that companies can use to reduce inventory costs, including implementing just-in-time inventory management, improving demand forecasting, reducing lead times, optimizing production schedules, and using inventory management software to improve inventory accuracy and efficiency.
What is inventory turnover?
Inventory turnover is a measure of how quickly a company sells and replaces its inventory. It is calculated by dividing the cost of goods sold by the average inventory level during a given period. A high inventory turnover ratio generally indicates that a company is effectively managing its inventory and selling its products quickly.
What is a stockout?
A stockout occurs when a company runs out of inventory and is unable to fulfill customer orders. Stockouts can be costly for companies, as they can lead to lost sales, unhappy customers, and damage to the company’s reputation.
What is deadstock inventory?
Deadstock inventory refers to goods or materials that a company is unable to sell or use due to factors such as changes in demand, product obsolescence, or overproduction. Deadstock inventory can be a significant cost for companies, as it ties up capital and takes up valuable storage space.
What is cycle counting?
Cycle counting is an inventory management technique in which a small portion of a company’s inventory is counted on a regular basis, rather than conducting a full physical inventory count at a single point in time. Cycle counting is designed to help companies improve inventory accuracy, identify inventory discrepancies more quickly, and reduce the disruption and costs associated with conducting a full physical inventory count.
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