What Is Order Management? Some businesses manage their orders manually and keep their records in ledgers. That being said, this is only good for small companies who process very few orders on a daily basis. For big companies with larger order inflows, the task of order management and processing can be challenging to carry…
With the onset of various practices aimed to increase the gross output from a company, the management, and control of everything related to the inventory are in the spotlight. Thus, paving the way for new techniques and practices to achieve it. Inventory control is, therefore, an important aspect of maintaining a successful supply chain for…
What Are Delivery Challans? As a businessperson, is this question placing you in a dilemma? Well, this article contains all information about Delivery Challans! Also referred to as a dispatch challan or a delivery slip, a Delivery challan may be a document that contains the outline, condition, and quantity of products delivered. The paper…
Inventories are the largest current asset of any business. Businesses are often confused about FIFO Vs LIFO. Ideally, there are two inventory valuation methods or accounting methods: LIFO (Last-in, first-out) and FIFO (First-in, first-out), or for this blog; FIFO vs LIFO. These are the two most used inventory methods for record-keeping that are feasible by…
What is a Sales Order & where is it used? The Sales Order, sometimes abbreviated as SO, is an order issued by a business to a customer. A sales order specifies the details about products and/or services ordered by a specific customer along with the price, quantity and terms and conditions. Businesses use it as a confirmation…