27 Sep
Inventory Audit – Importance & Procedures
Stock is a vital asset in every company’s balance sheet. It is used as collateral for securing financial assistance. It also runs the risk of being inappropriate for fraudulent reports generation. Hence, inventory audit procedures are enforced to ascertain the
23 Sep
9 Common warehouse organisation mistakes
Warehouse organisation is often misunderstood as organising inventory alphabetically. Efficacy in warehouse operations is a must for cost control, uninterrupted supply chain and overall customer satisfaction. Most of the time, these inefficiencies attributes to the simplest mistakes. These inefficiencies can
12 Sep
What’s the role of the Stock Keeping Unit (SKU) in your inventory?
The retailers prefer to use a coding system to keep track of the inventory. It can assist them with sales tracking as well. In other words, you can understand when your store needs to reorder the products. This can help
22 Aug
5 Things to Know for a Successful Barcode Implementation
Trackability is one of the prerequisites for a modern supply chain. It helps in ensuring visibility, meeting compliance, and in case if there is an effective recall. An automatic data capture system will aid in the collection of information quickly.
10 Aug
5 Best Inventory Management Apps for Shopify Owners
Nowadays, everything is online, and it has transformed how people shop. Every shopping website is giving its customers a whole new experience like Shopify, for instance. Retailers can earn more customers through these shopping sites. However, to meet the number
05 Aug
What Does a Purchase Order Contains and How Does It Work?
Every business has two primary parties, a buyer and a seller, regardless of the industry. A company keeps track of its inventory and sales through the usage of a purchase order and invoice. As these documents are similar in many
30 Jul
8 Steps to Controlling Inventory Flow & Warehouse Efficiency
Having an optimal inventory flow and warehouse efficiency is vital for businesses to keep their supply chain efficiency. Ensuring the dispatch of the right stock at the right time is crucial for retaining customers. Optimizing the inventory flow and the
14 Jul
What is Inventory Carrying Cost And How to Calculate It?
Inventory primarily occupies the current asset position in a company’s balance sheet. It is generally the most substantial portion of current assets. This stock is also known by the name “Inventory at hand’. It is a standard practice of every
05 Jul
5 Inventory Valuation Methods For Accurate Analysis Of Your Inventory
Inventory valuation methods are an essential part of every business’s costing process. It helps in determining the actual cost per product and profitability. It gives many benefits such as calculating income, financial position and the liquidity analysis of the firm.
21 Jun
6 Best SaaS Pricing Strategies To Get Your Customers To Pay
Finding the right balance between value and price is a challenge faced by every business. When offering Software as a Service, the company needs to use the right SaaS pricing strategy to generate and retain customers. The pricing model is
11 Jun
7 Best Websites That Provide Free Invoice Template
Whether you are a business owner, freelancer or an entrepreneur then, having a personalized invoice template is vital. Invoices aid in generating cash flow of the business and in securing timely payments. It also helps in keeping track the amount
22 May
What is Balance Sheet? What are the Different Components of a Balance Sheet?
The balance sheet is a statement that reflects a company’s financial position at the end of the accounting year. The components of a balance sheet state the value of assets, liabilities, and the capital of the company. To clarify, one