Inventories fulfill a fundamental function for the correct management of a company, it is important to know what type of inventories exist to better meet the needs of customers. In this article, we will guide you to know what type of inventory is ideal for your company.
When we talk about the stock we refer to the goods that are stored for marketing. It is very important that companies always keep a correct margin to guarantee internal and external demands. In order not to affect profitability it is necessary to manage the inventory, for this, proper management is required.
Anticipation inventory
This inventory is carried out when there is a greater amount of demand and a strategy is required to meet the needs of customers. This type of inventory must be constantly updated according to the seasons and commercial promotions, to have in stock what is necessary to meet the demand.
Batch inventories
These inventories are made according to lot size, this reduces costs and means that products are ordered only when they are needed. Batch inventory is one of the easiest inventories because it is much less maintenance and orders are placed according to your needs.
Consignment Inventory
This model is a business arrangement in which the wholesaler agrees to deliver his goods to the consignee or retailer without him paying in advance. The wholesaler remains the owner of the goods and the consignee pays for the goods when the retailer sells them.
Remember that the inventories we are mentioning are according to the classification according to logistics, there are other types of inventory that are separated according to the moment in which they are carried out, the periodicity, the form, among others.
To choose the right inventory it is necessary to analyze the needs of the company, its limitations, and the specifications of each of the modalities. Supporting you in the more strategic areas such as sales and analysis will help you to plan and forecast demand.
As you could realize, warehouse management is very important to have correct stock management, to have better management it is important to have a logistic partner, like the one we recommend below.
Reach new heights
Delegating tasks is also important for any growing business. Xborder has been in the e-commerce business for over 10 years, and has everything you will need to expand into Latinamerican markets: accounting, financial and consulting services, digital marketing, customer and shipping services, store management, warehousing, order fulfillment, and more!
If you are interested in giving your business a professional boost, visit xborder.co and we will gladly assist you.
