Each aspect of your business is equally important, but if there’s one that stands more crucial than others, that would be the point-of-sale (POS). It’s the moment when a potential client finally transitions into a paying customer. Most businesses already have an established point-of-sale system. For brick-and-mortar stores, that would be the cash register…
A company’s inventory is one of its most valuable assets. Be it retail, manufacturing, food service, and other inventory-intensive sectors, a company’s inputs and finished products are the core of its business. Inventory management software is a small investment that can give you massive returns. Managing that inventory is again a significant task for…
A common challenge for both small and large companies is how to handle inventory problems and solutions. The many processes involved in inventory management mean you need to keep a careful eye on your items. Otherwise, your products can easily get lost or damaged. Without the right tools and strategy, this task can become even…
A retail business’s inventory is among its most precious assets. As it has been proven to be the case, in the global ever-growing economy, for inventory-intensive industries such as retail, hospitality, and manufacturing, an entity’s finished products, raw materials, and other components are at the heart of its business. Therefore, a shortage of inventory at…
Inventory is the collection of goods a company has in its stock. This includes raw materials, unfinished goods, and goods that are ready to be sold. Generally, inventory refers to the finished goods. This can also include the raw materials required for the production of finished goods called work in progress. Inventory turnover…
Benefits of inventory management software in wholesale, manufacturing, brewing and lighting industry Inventory management software refers to its usage in process of ordering, storing, and using a company’s inventory. These include the management of raw materials, components, and finished products, as well as warehousing and processing such items. A company’s inventory is one of…
5 Smart Tips To Avoid Stock Damage Stock damage or inventory damage is one of the biggest challenges faced by several managers and business owners in today’s highly competitive market. If you’re running an enterprise, along with stock, you have to handle a lot many things. Read our article on 7 mistakes that entrepreneurs should…
Inventory Valuation Methods Inventory generally refers to stock or stock in trade. In trading, it refers to perpetual inventory meant for resale or unsold goods. In a manufacturing concern, it includes items such as raw materials, semi-finished goods, and finished goods. An inventory valuation allows your company to provide a monetary value for items that make up…
What Is A Bill Of Materials? In a nutshell, a Bill of Materials (BOM) is the complete list of all the items that are required to build a product. But, it is more than a mere shopping list. A list of material, or the Bill of Materials is a list of all the production…
The world of online retail is still showing considerable signs of growth on a global scale and, despite trends predicting a slight decrease in percentage growth for 2019 in comparison to previous years, there’s still scope for eCommerce businesses to upscale and take their share of the market. In this post, Jon Leighton from…
