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 ... Read more →
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 ... Read more →
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. ... Read more →
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 ... Read more →
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 ... Read more →
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 ... Read more →
34% of the top 50 U.S. retailers have reported poor forecasting accuracy. Considering a deviation of 1% in either over-forecasting or under-forecasting can cost a company thousands, or even millions of dollars, you have to wonder why? Only about 60% ... Read more →
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 ... Read more →
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 ... Read more →
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 ... Read more →
