Consignment Inventory or Vendor-owned Inventory
Consignment inventory is an element of supply chain management in which the vendor inventory is held at the customer warehouse. The customer doesn’t pay for the goods until the goods are consumed, and in most cases, pays only the amount consumed. When receiving the inventory, the physical receipts and on-hand inventory transactions are posted in […]
What is ABC Analysis?
ABC analysis is the process of classifying the inventory into A, B and C classes based on their relative significance to business, either by their monetary value, utilization, carrying cost or any other factor. This allows leaders to allocate the company’s resources to maximize the efficiency.| https://www.ascent365.com/wp-content/uploads/2025/03/bf463f6f-eb9f-4259-bf9e-f80048d3_3400.mp4 Class A: Very important for an organization. […]
Procurement Goals: We Don’t Need Any Toner
A former coworker and good buddy of mine is a Purchasing Manager for a mid-size manufacturing company. He always had a lot on his plate and more often than not, he would greet fellow colleagues to his office with “I can’t take it no mo’!”, “Please. Leave. Now.” or “I don’t want your ____”. I […]
What is Safety Stock?
Safety stock or buffer stock is the additional quantity of an item above the desired quantity that is held in the on-hand inventory. Such extra inventory is held with the sole purpose of avoiding the risk of running out of stock. Safety stock serves as an insurance or a cushion for manufacturers and retailers against […]
Committing to Accurate Barcodes: Because Royal Doulton Looks Weird Next to a Sippy Cup
Take a moment and think about the most exciting and joyful moment of your wedding. If you aren’t married, then try to imagine it. What did you pick?The expression of your love and faithfulness to your spouse? While that’s a sweet sentiment, you’re wrong. Throwing a party for your family and friends? Barring the judgmental […]
Microsoft Cloud for Manufacturing
What Is Microsoft Cloud for Manufacturing? Microsoft Cloud for Manufacturing is a cloud-based solution designed specifically for manufacturers, helping them become more agile, efficient, and resilient. It brings together powerful tools like Azure, Dynamics 365, Microsoft 365, Microsoft Teams, and Power Platform to create a connected, intelligent manufacturing ecosystem. With built-in AI, IoT, and […]