Benefits Of Cycle Counting

Benefits of Cycle Counting Cycle counting is a new inventory management process where physical inventory is counted. Unlike traditional inventory management, physical inventory in cycle counting come to a halt after all the items are totaled. Cycle counting is popular as it maintains record accuracy, as well as faster detection of faults and errors. 1. … Read more

Benefits Of Vendor Managed Inventory

Benefits of Vendor Managed Inventory Vendor managed inventory consistently offers significant rewards for the customer and the supplier as well. Today, most companies chose to have a number of vendors so that they can find the lowest price. Vendor managed inventory can have financial and operation perks for your business as they eliminate the need … Read more

Benefits Of Auctions

Benefits of Auctions Auctions allow multiple buyers to competitively bid for products of services from single suppliers. These auctions are appropriate for goods that are difficult to move and also excess or surplus inventory. Successful auctions may provide the following advantages. 1. Reduce ownership costs As soon as the choice of selling is made, the … Read more

Benefits of JIT

Benefits of JIT JIT is basically the theory that items are delivered to the required point at the correct time and in correct quantities. The main aim of JIT is to minimize waste linked with inventory and thus stock ought to be delivered and components or goods manufactured just in time. There are various losses … Read more