Finished goods inventory is the total on-hand stock of products that have completed the production process and are ready for sale. The value of these products must be reported in your financial records. Without it, you can’t accurately measure profitability […]
If you’re not sure which inventory management software is best for your business, this guide will compare the top solutions so you can make the right decision. I’m Oliver Munro—I was an inventory manager and warehouse manager for over six […]
In manufacturing and fulfillment, every stage of production matters. But there’s one critical phase that often doesn’t get the attention it deserves: work in process (WIP) inventory. WIP inventory refers to the partially completed products in your production line, representing […]
You’ve probably heard countless ways to improve your profit margins, from optimizing shipping routes to streamlining warehouse operations. But one method flies under the radar: minimum order quantity (MOQ). With the right MOQ, you can reduce your inventory costs, increase […]
Inventory management is the process of tracking and controlling inventory stock in a business. One thing I learned from six years of working as an inventory manager is that poor inventory management is like a disease. Untreated, it diminishes profits, […]
Ever wonder why some businesses thrive while others struggle to stay afloat? While many factors contribute to success, one crucial element is often overlooked: understanding and managing costs. At the heart of this is cost per unit — the total […]
A stockout occurs when a company runs out of available inventory for a product. Stockouts prevent a business from making sales until goods are replenished. They can damage your brand reputation, send customers shopping elsewhere, and directly impact your bottom […]
Are you struggling to understand your inventory’s true value? Ending inventory holds the key to unlocking crucial insights about your business’s financial health. In this guide, we’ll demystify ending inventory calculations, showing you how to boost profits and make smarter […]
If your profit margins aren’t as high as they should be—even when sales are strong—the culprit might be hidden costs in your ordering process. Ordering costs can quietly drain your profits if left unchecked, hiking up overall business expenses and […]
How will you know how much new product to produce for your next holiday? What kinds of capital will you need to invest in stock for your next fiscal year? Demand forecasting has the answers. Demand forecasts project sales for […]
Dropshipping is a low-entry way for almost anyone to start an ecommerce business. Suppliers handle fulfillment and logistics, so you can focus on sales, customer service, and growth. In this dropshipping guide, you’ll learn what it takes to get started […]
Constantly juggling inventory levels while trying to keep up with customer demand and avoiding stockouts or backorders is a balancing act that can leave you feeling like you’re always one step behind. But what if there was a way to […]
