by Olivia Barnes-Brett | Aug 4, 2022 | Accounting
Key takeaways The cost of goods sold (COGS) formula is: COGS = (Beginning Inventory + Purchases) – Ending Inventory = Cost of Goods Sold. COGS is essential for understanding the true cost of producing or purchasing goods and is a key metric to determine a...
by Olivia Barnes-Brett | Jul 13, 2022 | Inventory, Workflows
Key takeaways Order picking can account for up to 60% of total warehouse costs, making it a critical area for efficiency improvements. The best picking method depends on warehouse size, team structure, and inventory type—there’s no one-size-fits-all approach. Common...
by inFlow Inventory | May 6, 2022 | Inventory
Overstocking goods may help businesses avoid shortages, but this strategy isn’t without its risks. When your excess inventory becomes obsolete, your dead stock can drag down your return on investment (ROI) and hinder your growth. Every inch of wasted space in...
by inFlow Inventory | May 6, 2022 | Inventory
Optimized inventory management is the key to maintaining adequate stock levels and keeping everything organized and running smoothly. However, even with the best warehouse management software, you may find that your current facility is holding you back and is no...
by inFlow Inventory | May 6, 2022 | Inventory
For years, studies have shown that the workplace environment has a direct correlation with productivity levels. The less stressful the workplace, the more satisfied and productive your employees will be. Today, healthy, efficient, and positive work environments that...
