Calderdale-based international software development company TWEAVE is launching a series of online free seminars for SMEs that are looking to optimise inventory management to increase cash flow and profitability.
Inefficient inventory management can lead to significant consequences, including lost revenue, cash-flow problems, and even loss of customers as they turn to competitors with the necessary stock.
Recent figures from the Federation of Small Businesses revealed despite a drop in overall confidence in the region, a fall to -9 in Q4 2023 from +3 in the previous quarter, the North West is the best-performing region on growth in employment and wages, investment intentions and revenue.
Sascha Dobbelaere, CEO at Tweave, says, “The North West has a huge reputation for being an important business hub – last year it had the third highest number of start-ups in all of the UK’s regions.”
Last year saw more than 80,000 start-ups launched in the North West – an increase of 7.7 per centfrom the previous year. With Startup failure of around 60% within three years, Tweave is supporting companies across the North West, nationally and globally to optimise inventory management to stabilise the business before engaging in growth.
“65% of SMEs blame cash flow problems as the main reason for business failure, whilst 42% of start-ups fail because of a lack of market demand for their products or services,” said Dobbelaere.
“Optimising inventory management is a crucial differentiator for success in today’s competitive business landscape. Efficient inventory management improves cash flow and profitability. It also ensures customer satisfaction and helps reduce costs, such as carrying and stock-out costs, whilst leading the organisation towards long-term success in an increasingly competitive environment.”
A recent White Paper published by Tweave, A Guide To Optimising Inventory Management, revealed that companies with a comprehensive understanding of their inventory structure are better positioned to make informed business decisions.
Sascha Dobbelaere concluded, “The advantage of this clarity is that it allows the company to reduce warehousing costs by avoiding replenishing slow-moving items. Meanwhile, fast-moving products can be stocked in alignment with sales demand, thereby increasing profits. As a result, these strategic activities significantly enhance the company’s EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortisation).”
For more information about the online seminars click here
