by Olivia Barnes-Brett | Sep 22, 2022 | Workflows
Key takeaways There are six main types of manufacturing processes: repetitive, discrete, job shop, continuous, batch, and 3D printing. Repetitive and Continuous processes are suited for high-volume, standardized products. Discrete and Job Shop allows for more...
by Olivia Barnes-Brett | Sep 16, 2022 | Accounting
Key takeaways DSI measures how many days it takes a business to sell its inventory on average. The DSI formula is: (Average inventory / Cost of goods sold) x 365. Average inventory is usually calculated by adding beginning and ending inventory values, then dividing by...
by Olivia Barnes-Brett | Sep 6, 2022 | Inventory
Key takeaways A recession doesn’t automatically mean you should slash inventory or spending. The best approach is to identify which products, services, and tools truly add value and cut only the things your business can live without. Research on companies that...
by Olivia Barnes-Brett | Aug 30, 2022 | Inventory
Key takeaways Just-in-time (JIT) inventory management focuses on receiving or producing inventory only when it’s needed, minimizing the amount of stock held on hand. Successful JIT systems depend on accurate forecasting, careful production planning, reliable...
by Olivia Barnes-Brett | Aug 5, 2022 | Accounting
Key takeaways Economic order quantity (EOQ), also known as optimum lot size, helps determine how much inventory to order each time to minimize total ordering and carrying costs. While reorder points focus on when to order the EOQ focuses on how much to order. The...
Fellow Canadians: All inFlow plans are available in Canadian dollars 
