First time here? Join Mr Dashboard Right Now. It’s Free! Management Tips and Tools This Week Welcome to this week’s edition of Mr Dashboard Weekly! Here you’ll find essential insights, practical business strategies, and useful resources that can help you optimize your operations and drive growth. Each section covers key management topics with actionable … Read more
Understanding Inventory Turnover Rate Inventory turnover measures how many times a business’s inventory is sold and replaced over a specific period. The formula to calculate this metric is: Inventory Turnover Rate = Cost of Goods Sold (COGS) / Average Inventory A higher inventory turnover rate indicates effective inventory management and sales performance, allowing businesses to … Read more
How to Perform Effective Inventory Management in Manufacturing Inventory management is a critical function in any manufacturing business. Properly managing your inventory ensures you use resources efficiently, minimize waste, and meet customer demand on time. Conducting at least an annual inventory count is essential to track your products, materials, and work-in-progress accurately. Why Inventory Management … Read more
Understanding Seasonal Inventory Management Effective management of seasonal inventory is crucial for businesses that experience fluctuating demand based on the time of year. While some products maintain a consistent demand year-round, others see a marked increase during specific seasons. Knowing how to calculate and manage this seasonal inventory can significantly boost your business’s efficiency and … Read more
Introduction to Inventory Turnover Ratio Understanding your company’s inventory turnover ratio is crucial for warehouse managers, supply chain leaders, and accountants. This ratio indicates how many times your inventory has been sold and replaced during a specific period, typically a year. A higher ratio suggests better inventory management and sales efficiency. Why Is Inventory Turnover … Read more
Why Use Excel for Inventory Management? Excel remains one of the most affordable and flexible tools for tracking stock. It requires no extra licensing fees, works on any computer with Office, and lets you turn raw numbers into visual insights with just a few clicks. Cost‑effective: No subscription, no implementation budget. Customizable: Add or remove … Read more
Streamline Your Inventory Management with Free Excel Templates Managing inventory effectively is critical for any business that handles physical products. Whether you run a small retail store, an online shop, or a warehouse, keeping track of stock levels, deliveries, and product quality can be complex. However, efficient inventory management doesn’t require expensive software or complicated … Read more