Managing your stock
Inventory management is an essential activity for every retailer. Get it right and your customers will be happy, your sales will increase and your margins will improve. Get it wrong and you will experience stock-outs, inefficient picking, packing and delivery and customer backlash.
In this post, we take you through everything you need to know about managing inventory. From key inventory terms to stock management formulas, we cover it all. If you are an inventory manager in a large organisation or a small company trying to improve inventory management this guide will help you better understand how to improve your inventory management process.

Stock Management by Iconography
Did you know that our Unified Commerce platform mixes eCommerce, RMS, CRM and EPoS to provide an award winning omnichannel solution?
It combines all of these into a single system with a single database for stock management for 100% stock visibility across all channels.
Would you like to know more? ›What is inventory management?
The objective of inventory management is to buy the right products, at the right price and have them delivered at the right time so they can be sold at the highest margins
Let’s start by briefly covering what inventory management actually is. Inventory management is an umbrella term that covers all aspects of the inventory management process including purchasing, production, holding stock, sales and reporting.
One key aspect of inventory management is warehousing and stock control. To fulfil as many orders at possible at the highest price, and reduce warehousing costs, an optimum number of products must be in stock at all times.
Too much stock means and you could be sacrificing warehouse space that’s better-used storing more popular lines. Too little stock and you risk losing sales due to out of stocks. Finding the balance is critical.