Tag: Inventory Management

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10 August
Inventory Management Explained

Inventory is a vital piece of your business structure. Inventory management in itself is the art and science of stock keeping to track the level of products in containment, thereby ensuring products and materials in storage are not too low or dangerously high.
There are stages of inventory which are listed as follows;

  • Finished goods (that are available to be sold)
  • Work-in-progress (meaning in the process of being made)
  • Raw materials (to be used to produce more finished goods)

In today’s world, the gears of business are changing rapidly, with an ever growing population, there is an increase in demand and a market to be exploited. To support an ever growing market, manufacturers must sustain the rate of production and pace of supply; there are major factors that come into play in the overall sustenance of a business architecture and Inventory Management plays a critical role. The keeping of inventory is a strong determinant in the growth of an organization, when products are tracked and recorded, organizations can be up to date on the state of products, the demand and popularity of a certain product and well informed before decisions on logistics can be made.

As it is, we are now familiar with the term “Inventory” and its importance in the day to day operation of an organization, the terms and concepts of it all could seem overwhelming but Loft is here to take you through it all, serving as your personal co-pilot and wingman.
We guarantee the organization and security of your biggest asset, the “inventory” through meticulous planning ahead of operations, state of the art modern storage facilities and the employment of a dedicated personnel, capable of the movement and eventual storage of product before distribution. Inventory management is a fundamental part of running a business, to avoid unprecedented damages and fluctuations in the flow of business operations, entrust the management of your inventory to professionals, entrust it to Loft!