Members

Thomashodge
  • Male
  • Australia
Share on Facebook MySpace

Gifts Received

Gift

Thomashodge has not received any gifts yet

Give a Gift

 

Thomashodge's Page

Latest Activity

Thomashodge posted a blog post

The Future of Retail Inventory Management

Technology advancement has changed almost all sectors of human life, including the retail world. While retail has been transitioning into the digital world for some time, the COVID-19 pandemic changed the minds of those who have not undergone a digital transformation. Worldwide lockdowns pushed online shopping into overdrive over the past two years. This year, analysts expect over 266 million digital buyers and forecast a steady increase for the next few years. Consequently, businesses that…See More
Nov 21
Thomashodge posted a blog post

Restaurant Inventory Management Methods You Should Know

As a business that heavily depends on fresh products, a restaurant must have proper food inventory management to succeed. Keeping track of stock consumption across all the outlets helps you to make informed business decisions on how to run the restaurant for maximum profit. Otherwise, you will have to deal with food shortages, unnecessary food waste and inaccurate forecasting – all of which can greatly hurt your cash flow.Using retail inventory software like Advstock Inventories …See More
Oct 14
Thomashodge posted a blog post

The Best Way to Improve Pharmacy Inventory Management

Any business that handles stock must have excellent inventory management. Having the products needed to meet customer demand helps to propel a business to success. This applies to businesses of every size, including pharmacies.To correctly predict market demand, a business owner requires accurate insights into real-time stock levels. Said insights can be achieved by tracking the flow of stock using retail inventory software. Here is why pharmacies must have the right retail inventory software…See More
Oct 4
Thomashodge posted a blog post

The Unknown Problems of Overstocking

One of the most common mistakes businesses make is overstocking. This issue occurs in both small and big companies. Despite seeming like a good idea, having too many stocks in your inventory does more damage than good.Overstocking is an easy mistake to make when you don’t use a retail inventory software to keep track of your stocks. First, you have to deal with the fluctuating customer demands, which…See More
Jul 20
Thomashodge posted a blog post

5 Most Common Inventory Management Problems (and How to Solve Them)

Whether you’re running a small or large business, having efficient inventory management is the key to rapid business growth. With proper inventory management, you get to deliver products to customers on time and meet the market’s demand – boosting your sales and overall shopping experience.That said, managing inventory is not an easy task. Let’s take a look at some of the most common problems that occur in the supply chain.Lack on Inventory VisibilityIf you cannot locate or identify the current…See More
Jul 11
Thomashodge posted a blog post

The Importance of Stocktaking

If you are running a stock-based business, doing a stocktake regularly and correctly is essential. Having updated knowledge of the stock levels held in the inventory helps to avoid over-stocking, prevent stealing, and identify damaged or misplaced stocks. Proper stocktaking also lets you detect slow-moving or dead stocks and reconsider your pricing strategy. In other words, stocktaking highlights any issues within the warehouse processes.All the insights gained from monitoring your stock levels…See More
Jun 7
Thomashodge posted a blog post

What Is Inventory Management?

Any business that sells physical goods must be familiar with inventory management. It is the process of ordering, storing, and tracking a business’ inventory. Inventory management governs the flow of raw materials, components, and finished goods – from stock purchasing to sale – and makes sure all the stocks are used effectively and efficiently.Inventory management makes or breaks a business’ cash flow. For instance, businesses that deal with perishable goods must keep track of their expiry…See More
May 23
Thomashodge posted a blog post

The Importance of Regular Stocktaking

Any business that deals with physical goods must be familiar with stocktaking. The process involves counting the items in your storage facility and cross-checking the results with the numbers on your records. Some businesses conduct stocktaking once a year, while others do it on a monthly basis.The growing role of technology in the business sector, particularly in the stocktaking area, influences the birth of stock and…See More
May 2
Thomashodge posted a blog post

Smart Inventory Management With Stocktaking App

In this fast-paced world, businesses will not survive without proper inventory management. Having too little or too many stocks in hand can result in revenue loss, which dampens your business’ growth. The best way to maintain your inventory’s health is to conduct regular stocktaking.The purpose of stocktaking is to keep track of all the physical items stored in your storage facility. You process the findings into a comprehensive report and cross-check it with the records of your previous…See More
Apr 15
Thomashodge posted a blog post

Digital Stocktaking with AdvStock

Anyone who is running a business must have been familiar with the process of stocktaking. Besides recording the quantities of all the inventory you currently have, it also involves checking the goods’ quality for any stock issues like damaged products, missing orders, and spoiled goods.Stocktaking should be conducted regularly as it affects your business’ purchasing, production, and sales. If it is done correctly, accurate stocktaking can help your business avoid stockouts, overstocking, and…See More
Mar 7
nimsul dasa commented on Thomashodge's blog post What is stocktaking and why is it important?
"sfeXCsD sfeXCsD sfeXCsD sfeXCsD sfeXCsD sfeXCsD sfeXCsD sfeXCsD sfeXCsD sfeXCsD sfeXCsD sfeXCsD sfeXCsD sfeXCsD sfeXCsD"
Feb 17
Thomashodge posted a blog post

What is stocktaking and why is it important?

Stocktaking is the process of checking and recording your inventory. It plays a major part in your business’ workflow as the insights you gain from it allow you to make sound business decisions in terms of purchasing, production, and sales.If you’re a manufacturer, stocktake reports tell you when to purchase the goods needed to make your products. Similarly, retail business owners can use the stocktake records to identify dead stock and stockouts, resulting in bigger revenue.Businesses that…See More
Feb 17
Thomashodge posted a blog post

Advstock Inventories: Stocktaking Solutions for Small Businesses

If you’re a business owner, you must be familiar with the process of stocktaking. Depending on your business’ size and type, this activity can be time and energy-consuming.Yet, the importance of stocktaking is evident. Other than reducing loss and waste, doing it regularly will help improve your business’ revenue and discover potential and dead stock. If it’s done properly, stocktaking can even uncover theft within the business and provide insights for accurate stock level forecasting. As…See More
Jan 24
Thomashodge posted a blog post

How to Choose the Best Stocktake App for Your Business

Every online or offline business selling physical products must be familiar with stocktaking. This process involves manually checking whether the quantity and quality of all the inventory a business currently manages are accurate and in good condition. By regularly conducting stocktakes, a business can gain insights into products that sell and don’t - essential information for avoiding product shortage. If you’re selling perishable goods, stocktaking makes sorting items due to expire easier,…See More
Jan 15
Thomashodge posted a blog post

Top 3 Stock Counting Tips for Retailers

Whether you’re handling inventory management using Excel or are using AdvStock’s retail solution, stocktaking is a critical part of running a retail store. Advanced and detailed planning is necessary so painful stocktaking won’t come into existence. Below are the top three stock counting tips we came up with for the hardworking retailers:1. Use inventory scanners or other types of stock counting technologiesGone are the days when physical inventory counts are done using a piece of pen and a pad…See More
Dec 13, 2021
Thomashodge posted a blog post

Avoiding Stock Outs

Stockouts could be one among a retailer’s nightmare. Not only do they lead to lost sales, but out-of-stocks also result in reduced customer satisfaction and lower loyalty levels. Shoppers often feel let down when you don’t have what they’re looking for, and the last thing you want is to disappoint customers.There are a number of reasons why retailers are unable to track their inventories properly. That's why they go out of stock. One is inaccurate data. Inaccurate data is often obtained from…See More
Dec 2, 2021

Thomashodge's Blog

The Future of Retail Inventory Management

Posted on November 21, 2022 at 5:44am 0 Comments

Technology advancement has changed almost all sectors of human life, including the retail world. While retail has been transitioning into the digital world for some time, the COVID-19 pandemic changed the minds of those who have not undergone a digital transformation. Worldwide lockdowns pushed online shopping into overdrive over the past two years. This year, analysts expect over 266 million digital buyers…

Continue

Restaurant Inventory Management Methods You Should Know

Posted on October 14, 2022 at 2:18am 0 Comments

As a business that heavily depends on fresh products, a restaurant must have proper food inventory management to succeed. Keeping track of stock consumption across all the outlets helps you to make informed business decisions on how to run the restaurant for maximum profit. Otherwise, you will have to deal with food shortages,…

Continue

The Best Way to Improve Pharmacy Inventory Management

Posted on October 4, 2022 at 5:29am 0 Comments

Any business that handles stock must have excellent inventory management. Having the products needed to meet customer demand helps to propel a business to success. This applies to businesses of every size, including pharmacies.To correctly predict market demand, a business owner requires accurate insights into real-time stock levels. Said insights can be achieved by tracking the flow of stock using retail inventory software.

Here is why pharmacies must have…

Continue

The Unknown Problems of Overstocking

Posted on July 20, 2022 at 4:21am 0 Comments

One of the most common mistakes businesses make is overstocking. This issue occurs in both small and big companies. Despite seeming like a good idea, having too many stocks in your inventory does more damage than good.

Overstocking is an easy mistake to make when you don’t use a retail inventory software to keep track of your stocks.…

Continue

Comment Wall

  • No comments yet!

You need to be a member of On Feet Nation to add comments!

Join On Feet Nation

 
 
 

© 2022   Created by PH the vintage.   Powered by

Badges  |  Report an Issue  |  Terms of Service