Imagine yourself making huge sales. The rate at which the products are flying off your shelves is so fast that you can’t match their demand. What happens next? Do...
Direct materials cost is the cost of direct material associated with a production unit. Direct material is also referred to as productive material. Direct material cost fluctuates a lot...
Inventory is the store or stock of goods. The goods are retained at hand or nearby to allow the business to meet the demand fulfilling its reason to exist....
Inventory management is the backbone of any successful business. Poor inventory management may have far-reaching adverse effects on your average company, perhaps even leading to its closure. The Retail...
You have a business, and just like many business owners, you want to improve your bottom line. You will need evaluation methods most common in eCommerce accounting to achieve...
The quick answer to this question is yes, inventory is a current asset. Inventory is composed of the products used in the manufacturing of the final product. Why then...
Q: Andrew, you’ve had an amazing career as an entrepreneur. Can you share with us some of the goals and motivations that drive you every day? Andrew: Internally, my...
Every manufacturing company follows three primary phases in the manufacturing process. First, there is the sourcing of requisite raw materials from suppliers. Naturally, the second step uses these raw...
Any business owner will tell you that effective inventory management is the lifeline of any business. A company has to find an optimal balance between too much inventory that...
The Periodic Inventory System is an inventory management tool where a physical count of available inventory is conducted on a periodic/scheduled basis. It allows businesses to account for their...
