Wholesalers, retailers and manufacturers around the world are facing the economic fallout of COVID-19. Many small-to-medium sized enterprises (SMEs) are in survival mode after delayed or dwindling sales, not being able to enter their premises for several weeks or having to pull the plug on major projects. Add changing lead times, other supply chain issues, and shifting consumer behaviour, and it can spell disaster for your cashflow. So getting out ahead by forecasting demand is essential for SMEs right now.
The impact of Covid-19 on themanufacturing sector will be larger than anything we have seen before. Small manufacturing firms are less likely to have deep enough pockets to get through the recession than large firms, and this pandemic could be the last straw for some that have been struggling.
Stock-outs are a pervasive and significant inventory control issue facing businesses and, by proxy, consumers. A stock-out happens when the number of orders for a product exceeds the amount of inventory that is stored. This situation can arise due to a number of factors, including:
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From homemade beginnings
Spotting a gap in Sydney’s cold-pressed juice market, Allie’s began as a homemade venture to fulfil a need for a convenient, healthy and delicious drink without added sugar, stevia, preservatives or concentrate. After testing her juices on family, friends, colleagues, and the café in her office building, and receiving resoundingly positive feedback, Allie took her creations to Marrickville Farmers Market, where they quickly sold out.
About ten years ago, I bought a struggling toy business that, on the surface, looked like it had a lot of potential. But only two years later, I was forced to sell it at a fraction of what I invested. I lost over a million dollars in the process, which nearly ruined me.
Mega Distribution, a wholesale company based in California, U.S, connects retail businesses with successful, nationally recognised brands. Their customers are mainly small businesses, but as their catalogue has become more mainstream, their clients now include yoga studios and doctors’ offices.
We often get asked this question by users of TradeGecko’s Inventory Management software. Its a good question so we thought we would put it here as an article and link any interested parties back to it.
Shine+ emerged in 2015 when founders, Steve Chapman and Dr Sam Prince, were on a trip to New York and brainstormed a solution to the lack of functional and healthy drinks available in Australia. Sugar-heavy energy drinks were saturating the drinks market, and there were hardly any beverages around for the health-conscious consumer looking to naturally enhance their mental performance. Enter Shine+ with natural nootropics.