Every company keeps a list of their unsold goods, left goods, defective goods, raw materials as inventory. Inventory management is crucial for every company as it focuses on collecting products and goods and using that data for better supplier optimization. In this retail business age, if you ask, “why is inventory management important?”, know one …
Why is Inventory Management Important for Retails Business Read More »
It is essential that you know about the functioning of the moving average inventory methods. Each method generated different levels of profits and cost of goods sold, focusing on various elements. We know the most popular costing methods are LIFO and FIFO, where they focus on different variables to generate results. To get the results …
Inventory management is managing goods from sourcing and production to selling to the end parties where supply chain management (SCM) is primarily related to transfer of goods, information, and products between different members of the supply chain, including the supplier, manufacturers, wholesalers, retailers, and finally the consumers. Nowadays, most supply chain executives are aware of …
Role of Technology to Eliminate the Risks of Supply Chain Inventory Management Read More »
An online flea market pricing guide to equip flea market vendors of all experience levels to succeed before, during, and after a flea market! PLANNING BEFORE BECOMING A VENDOR FOR FLEA MARKET Locate opportunities to be a vendor. Do a Google search for flea market directories, and you will get multiple websites to choose from …
Gone are the days when people visit different stores to buy different products. Now everything has come under a roof. No, I am not talking about superstores. Superstore has become an old concept now. Now people like to shop everything online without visiting stores. For the changing buying pattern of the customers, the retailers are …
This is a representation of overbuying, orders that have been canceled, late deliveries or even projections that are inaccurate. The excess inventory can be as a result of a disruption in the cycle of a product. Disruptions can be caused by technical challenges, shipment delays or other factors like quality of the product. Excess inventory …
It doesn’t matter what kind of business one does, excess inventory is common to all types of business and the companies have to find ways of controlling it because it tends to take a lot of storing space, tie up a lot of capital and also use a lot of money paying up the warehouse …
Having a reliable inventory control system should be at the forefront of any product distribution business or organization. An inventory control system is very important because it has an immense impact on sales and we know that sales determine profits. A balance has to be maintained on all inventories purchased or manufactured. You will need …
The excess unprofitable stock is a nightmare to every business owner. It may come with benefits after some time, but it is never a major money-making strategy. Suppose the causes mentioned above results in you are harboring surplus stock that makes you lose money, there is no need to rant about the situation because you …
Advantages and Disadvantages of Excess Inventory Read More »
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