Every business purchases goods and services from other companies. It might be paper and other office supplies, or it might be items you’re manufacturing or selling. One thing is certain – the more items you purchase, the more difficult it is to keep track of everything. It makes sense to use purchase orders for the […]Continue reading
Inventory management methodologies, definitions, and best practices to manage and control your stock.
Imagine running a sale on your website. You’ve been hyping it up, and your customers are ready to buy. The sale goes live and your hopes are high. Suddenly angry emails start pouring in, and past customers start complaining about your brand on social media. You quickly realize the stock you thought you had ready […]Continue reading
Your order fulfillment process can significantly impact your business’s overall efficiency and success. If your fulfillment process is inefficient or broken at any stage, you could negatively affect customer experiences and possibly lose their business forever. You might also waste a lot of money, deter new leads and customers from doing business with you, and […]Continue reading
The inventory turnover ratios for each of your products can help you determine how marketable your goods are and how effective your marketing is. Inventory turnover is a crucial measurement for understanding how your business is performing. This metric can help you make more informed decisions regarding manufacturing, buying products, storing inventory, marketing, and selling […]Continue reading
If your business carries inventory, you should understand what a sell-through rate (STR) is, how it works, and why it’s essential. Once you grasp the basics you’ll be able to improve this key metric for each of your products.Continue reading