Inventory Management Explained in One Flow Chart |
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As the graphic to the right suggests, inventory management is a balancing act between two opposing goals: "asset efficiency" (having less inventory) and "transaction efficiency" (having more inventory).
How do you explain to your employees the decision process behind inventory management? How do you explain it to your sales team?
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“WarehouseTWO has been a life-saver for me and my customers more times than I can count!”
Dan Smith
Charlotte, NC USA
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June 12-15, 2021
Scottsdale, AZ USA
Visit us in booth 509 during the June 15th "Showcase of Hose Solutions".
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June 22-25, 2021
(virtual conference)
Join us on Wednesday, June 23rd at 2:30pm EDT for our session, "WarehouseTWO Best Practices for Tribute/TrulinX Users". Contact us for the link to this session.
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Featured Feature: Reference Documents Library
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Got questions about how to use WarehouseTWO? The answers are likely to be in our on-line tutorial section. Take a moment to browse the helpful forms, resources and tips available in the "Reference Documents" tab. To get there, log into your WarehouseTWO account and then click on the "View All Tutorials" link. If you are not yet a member, click here for guest access to our tutorials and reference documents. |
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Our next round of four different training webinars is scheduled for Wednesday, June 9th and Thursday, June 10th, 2021. Click here for session syllabuses and for links to register for any of these webinars. Space is limited, so register early!
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Distribution Quip of the Month |
"From the moment that the sales forecast has been finalized, it is wrong."
Got a favorite work-related quip? Or a snippet of wisdom applicable to the world of wholesale-distribution? Share it with us.
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WarehouseTWO Tip of the Month |
To promote your inventory to other WarehouseTWO members, but not give away too much information to cross-town competitors, post to the WarehouseTWO system all of your inventoried items, but not all of your available quantities of each item. That is, truncate your available quantities. For example, for items sold in “eaches”, limit the displayed quantity to twenty-five (25). For items sold in “feet”, limit the quantities to 500. Then, in your location record’s (records’) “How to Order” field(s), add the sentences, “We may have additional quantities of this item in stock. Contact us for more information.” |
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The easiest way to get more value from your WarehouseTWO account is to increase participation by other distributors and manufacturers. Over the years, many of you have been loyal "evangelists", recommending WarehouseTWO to peer distributors, to manufacturers and to associations and marketing groups.
We want to encourage and compensate you for the results of your efforts. To learn more about our "WarehouseTWO Referral Rewards" program, and how you and your company can benefit, click here.
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WarehouseTWO eNews Archives |
The Rewards and Risks of Accepting an Order for a "Buy Out" Item
How Smart Manufacturers Reduce the Frequency of Costly Small-Volume Production Runs
New Supplier? Before you Place Your First Stock Order, Do This
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Words that Confuse us at WarehouseTWO |
stationary: not moving or not intended to be moved
stationery: writing paper, especially with matching envelopes
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An Explanation of Inventory-Sharing Communities at WarehouseTWO |
WarehouseTWO's system of inventory-sharing "communities" serves a unique purpose in enabling "inventory-sharing" among peer wholesalers. Understanding and leveraging this system can enhance the value of one's WarehouseTWO membership.
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Got something to ask or something to say? Want to learn more about how formalized inventory-sharing with WarehouseTWO can help your company be more successful? Email us. Or call us at 1-650-329-1592 (USA Pacific time zone).
Enjoy your day!
Mark Tomalonis
WarehouseTWO, LLC
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