Inventory Management in Manufacturing: Tips and Techniques

Inventory

Lean Inventory Management – Core Principles and How to Implement

Lean inventory management is a strategic inventory approach that helps companies operate with less capital tied up in inventory while maintaining agility and responsiveness to market demands. Rooted in Lean manufacturing principles, its goal is to reduce excess stock, improve efficiency, and deliver customer value.

By Mattias Turovski 14 min read

AccountingInventoryManufacturing Tips

Inventory Costs – Types, Examples, and Tips to Manage Them

Inventory costs make up a substantial part of any manufacturing or distribution company’s total expenses. But the purchase price is just the beginning—storage, handling, and opportunity costs add up fast. Getting a handle on these expenses directly impacts your bottom line, profit margins, and competitive position.

By Steve Maurer, IME 18 min read

InventoryManufacturing Tips

Warehouse Organization – 10 Best Practices for Small Businesses

There are many moving parts to running a profitable business. One critical but often overlooked component is an efficient warehouse operation. Here’s why it’s important, along with 10 warehouse organization tips to optimize and keep it running smoothly.

By Steve Maurer, IME 13 min read

InventorySupply Chain

Overstocking and How to Prevent It

Overstocking means holding more inventory than is actually needed. While it might sound like a good idea to have extra stock lying around just in case, it can significantly increase your operating costs and erode profits.

By Madis Kuuse 8 min read

InventoryManufacturing Tips

What Is Dead Stock and How to Avoid It?

Dead stock, also called dead inventory, happens when materials, components, or products lose their purpose. Understanding the causes of dead stock helps you prevent costly tie-ups of cash and space. Dead stock management starts with recognizing the warning signs.

By Steve Maurer, IME 12 min read

AccountingInventory

Specific Identification Inventory Valuation – When to Use it?

Managing inventory costs in manufacturing? The specific identification method tracks each item’s actual cost from purchase to sale—no estimates, no assumptions. It’s the most accurate way to calculate the cost of goods sold, but the complexity means it only makes sense for certain operations.

By Steve Maurer, IME 11 min read

AccountingInventory

Weighted Average Cost Inventory Valuation – Is It Right for You?

When it comes to inventory valuation methods, weighted average cost (WAC) offers manufacturers a practical balance between simplicity and accuracy. WAC particularly makes sense when tracking large quantities of identical items. Understanding whether WAC aligns with your specific operation can significantly improve your inventory accounting.

By Steve Maurer, IME 12 min read

Inventory

Stock Replenishment – Top Tips for Small Manufacturers

Inventory control, inventory optimization, inventory management – are they all just other words for stock replenishment? In a way, yes, but also, not at all! Let’s find out the difference.

By Mattias Turovski 12 min read

Inventory

How to Keep Accurate Inventory Records?

Keeping accurate inventory records is an important part of maintaining a smooth running operation. An inventory management software solution provides an answer to this challenge, keeping the business fiscally fit.

By Steve Maurer, IME 11 min read