Cutting-edge industry trends and practical tips to make fulfillment excellence a competitive advantage.
With running an online business being one the most hyping trends of the last couple of decades, people have begun slowly adjust to the mentality of buying everything and anything exclusively without going to offline stores and shops. That being said, entrepreneurs and online business runners are bound to be people who are capable of […]
Also known as inventory outstanding, days in inventory refer to the number of days it takes for stock to turn into sales. While the formula for days in inventory may vary from sector to sector, the general rule of thumb is the lower the inventory outstanding, the more optimal inventory management is. The days in inventory formula can also be called inventory […]
Today’s business world requires an agile strategy interpretation and an effective operational management system in order to evolve beside the rapidly changing business climate. At this stage, forecasting comes into play and enables companies to plan ahead for unexpected events. Here you can find everything about forecasting in businesses, including forecasting cash flows, the basic […]
In the business world, many parts are working together. Manufacturers, suppliers, wholesalers, retailers, third parties, etc… Manufacturers take the raw materials and make the product. Wholesalers buy those products and sell them to retailers. Retailers sell those products to customers. This network includes different activities, people, information, and resources. Managing this supply chain is crucial […]
When pricing your products and services, determining the average total cost is an essential part of your accounting process. This step ensures you are pricing your products high enough to recover both your variable and fixed costs. The total cost formula helps businesses determine the total amount of expenses it takes to run the business.
A perpetual inventory system is an inventory management accounting method designed to update all the relevant information regarding the company’s accounting process. Perpetual inventory records real-time transactions that have been received or transactions related to sold stock. While this method is usually considered more efficient and handy than a periodic inventory system, it also involves updating and tracking inventory […]
Say that you decide everything from the design and packaging to the concept and materials of the product. Afterward, the supplier manufactures the product according to these specifications. The outcome is your own product with your own brand name on it. Here in this post, you will read the key points of a private label […]
USPS has a unique understanding of shipping zones. USPS zones are defined based on the distance a package has to travel from its original point. As a result, a lot of confusion occurs when defining various USPS shipping zones, and the most common question asked of all is “What USPS zone am I in?” These zones do not […]
If you’re an interested businessman and sell goods, you’ve most probably heard about “ending inventory” This term explains the total value of products a company still has for sale at the end of an accounting period. It is a piece of vital information for businesses not only for the chance of selling more but also […]
One of the most important calculations to factor in when running a business is the concept of margin. A margin calculator is bound to be your best friend when calculating an item’s revenue. Defining the gross margin of an item is relatively easy to understand and has a straightforward method that directly influences the core elements of […]
