by Olivia Barnes-Brett | Sep 6, 2022 | Inventory
Feeling a little nervous about your business’s future? You’re not alone. Data suggests that overall confidence amongst small business owners is at its lowest since at least 2017, when the survey began. But it’s not all bad news. Even with talks of a...
by Olivia Barnes-Brett | Aug 30, 2022 | Inventory
Just-in-time (JIT) is a form of management commonly used in retail and manufacturing. The idea is to hold (or make) only the stock that you’ll need immediately. Items arrive as you need them — just in time — rather than as bulk orders that must be held until they sell...
by Olivia Barnes-Brett | Aug 5, 2022 | Accounting
Economic order quantity (EOQ) is sometimes called the optimum lot size. It aims to tell you the optimal order quantity for a specific inventory product, so you know how much to purchase each time. The aim is to make ordering as cost-effective as possible. You might...
by Olivia Barnes-Brett | Aug 4, 2022 | Accounting
How much you spend on inventory has a huge impact on your business. Luckily, knowing the right accounting formulas makes managing your costs a lot easier. Today, we’re looking at cost of goods sold (COGS), why it’s important, and the simple COGS formula....
by Olivia Barnes-Brett | Jul 13, 2022 | Inventory, Workflows
Order picking is an important part of warehouse management. With the right methods in place, businesses can reduce costs, boost productivity, and increase customer satisfaction. We delve into the world of warehouse order picking methods to help you make the best...
