These methods produce different results because their flow of costs are based upon different assumptions. The FIFO method bases its cost flow on the chronological order purchases are made, while the LIFO method bases it cost flow in a reverse chronological order.
Services Original Articles on Inventory Management and Warehouse Operations The following is a listing of original informational articles white papers I've authored on topics related to inventory management and warehouse operations. If you like my articles, you may want to check out My Books.
This article details data inputs, applications, and implementation of EOQ. Describes and explains the exponential smoothing calculation often used in forecasting. The pros, cons, and implications of consignment inventory.
When does it provide a strategic advantage and when is it just moving costs. Explanation of VMI, and why you should or shouldn't consider it.
What you don't know about negative inventory balances may result in your making things worse by incorrectly "fixing it". This article is an excerpt from my book Inventory Accuracy: Software Selection and Implementation Tips.
Nuts and bolts tips on software selection and implementation, including tips on defining functionality needs, software testing, employee training.
Although software packages continue to get better it is unlikely that software manufacturers in the near future will be able to deliver adequate pre-defined reports to meet the diverse needs of their customers. Discusses database terminology and various types of reporting tools available.
Article defines backflushing as a means for issuing inventory in a manufacturing environment, its application, and implementation tips. Cycle Counting and Physical Inventories Avoid the pitfalls of the annual physical inventory by designing a more effective custom cycle counting system.
Insights on why you should cycle count, tracking inventory accuracy, blind counts, count timing, and effects of adjustments. Details functionality of most common types of vehicles such as counterbalanced forklift, motorized pallet truck, order selector, reach truck, swing reach and turret truck.
Also discusses common lift truck attachments. The Aisle Width Decision. Provides more detailed information on Narrow Aisle NA and Very Narrow Aisle VNA storage configurations and the lift truck designs available including comparisons of reach trucks and turret trucks.
Choosing the best systems requires thorough analysis of the characteristics of your unique operation. Understanding the factors to consider when determining where to slot items in your warehouse. Understanding theoretical storage capacity, utilization, and working capacity.
Various options for outsourcing warehouse operations. Discusses the often neglected little issues that affect warehouse operations. Supervision in the Warehouse.
The missing link between how you want your warehouse to operate and how it actually operates. Do you need one? Describes functionality of warehouse management systems WMS.
Methods for loading trailers. This is from my other website for my book on Inventory Accuracy and contains some different information from the above article on RFID.
Education and Equipment can increase safety in your loading dock. Tips on compliance and the need to go beyond compliance to ensure adequate fire safety.
E-consulting options are available.How does the inventory system work? RedBeam Inventory Tracking is a PC-based inventory program that’s easy to setup and use. Stockrooms often come under close scrutiny when organizations are looking to cut spending and keep down costs.
Fostering Growth. Smart Warehousing is continually expanding our service offerings to meet customer’s needs. Partnering and franchising in key markets allows Smart to grow our capabilities while fostering unparalleled service throughout our network.
Perpetual inventory control solves many inventory problems and makes tracking inventory simple. Get the perpetual inventory control template here free! Inventory (American English) or stock (British English) is the goods and materials that a business holds for the ultimate goal of resale (or repair)..
Inventory management is a discipline primarily about specifying the shape and placement of stocked goods. It is required at different locations within a facility or within many locations of a supply network to precede the regular and planned.
Jan 03, · At times, I have had customers contact me with concerns that their Configuration Manager environment is very slow or in some cases that the database is running out of space. When assessing the source of this, I have found that these customers are using the Inventory system in Configuration Manager to collect significant amounts.
The Wetlands Mapper delivers an easy-to-use map-like view of America’s wetland resources.
It spatially integrates NWI data with additional natural resource information and political boundaries to produce a robust decision support tool.