by Olivia Barnes-Brett | Sep 30, 2022 | Inventory, Popular Now
Key takeaways There are 5 fundamental types of inventory: raw materials, work-in-progress (WIP), finished goods, maintenance, repair, and operations (MRO), and packing materials. Raw materials are the basic components used to create finished goods. If the components...
by Olivia Barnes-Brett | Sep 16, 2022 | Accounting
Knowing how quickly stock sells gives businesses a good insight into their inventory management. No matter the size of your business or the industry you’re in, it’s important to know how long you hold onto stock so you can optimize processes. This is where...
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 Jared Plumb | Aug 8, 2022 | Barcoding, Featured
Key takeaways Barcoding boosts accuracy, efficiency, and scalability, and small businesses can start for just a few hundred dollars. A barcode is a visual code (1D or 2D) that represents numbers or text, but it only becomes useful when linked to product data in a...
