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...
What are the problems of Enterprise Resource Planning (ERP)? What is Enterprise Resource Planning? Enterprise Resource Planning is the strategic management of resources across an entire organization. It’s how...
Inventory management is a tough task, especially when you’re starting out. Though having practical knowledge is great, but sometimes theoretical knowledge can come handy. There are lots of inventory...
With multiple ways of labeling inventory within the business, it can be arduous to pick a solution that will work perfectly. Between SKU and UPC, there will be different...
Calculating the Cost of Goods Sold (COGS) can be done in many different ways, but two of the most popular inventory costing methods are FIFO and Average Costing. Both...
One of the most critical activities when closing a financial year is calculating the ending inventory. It is every businessman’s responsibility to know how much is left at the...
Many apps ago — a time where we could only dream of a mobile Internet and where phones were used strictly for phone calls, SMS and the occasional Snake...
Within the global supply chain, vendor-managed inventory (VMI) is becoming an essential service. Most people demand the movement of goods to be quick. That is why most retailers will...
There are different ways for retailers to get and sell their inventory. The most common is where a retailer purchases their inventory and stocks it in their warehouse for...
How’s Your Business Doing? As a busy wholesaler and distributor, in between receiving purchases and fulfilling orders, I’m sure you must wonder how your business is doing. You can...
