Landed cost includes everything from the amount paid for the product and shipping charges to customs fees and insurance. Knowing your landed cost can help you set more accurate prices, manage your inventory better, and boost your profit margins. In this article, we’ll break down landed cost, why it’s essential, and how you can calculate it to ensure you’re truly on top of your business finances.
Organizing your warehouse space can make a world of difference. In this article, we’ll explore practical tips and strategies to help you organize your warehouse space more effectively, ensuring a streamlined and efficient operation. Let’s discover how a little organization can go a long way!
Keeping track of inventory can be daunting as your business grows. The good news is that there’s a smarter way to manage your stock without the hassle of halting operations for a full physical inventory count: the inventory cycle count, a modern and efficient approach to maintaining accurate inventory records.
Keeping track of inventory efficiently is more crucial than ever. Many businesses are looking to barcode inventory system software to assist with this critical function, streamlining operations and boosting accuracy in the process.
Product assembly is about combining different pieces to create a finished product. Think of product assembly like a puzzle, but instead of pieces of cardboard, you’re working with various product components. These can be as simple as a few screws and boards or as complex as the thousands of parts in a car.
Whether assembling furniture or the latest gadgets, product assembly is vital to bringing products to life.
Imagine you’re playing one of those strategy video games where you must keep your resources balanced—too much of one thing, and you’re wasting valuable space; too little, and you risk running out when the enemy attacks. Now, replace the game with real life, the resources with your business’s inventory, and the enemy with market demand. Welcome to the world of inventory management—a delicate dance of supply and demand. That’s where Economic Order Quantity (EOQ) steps into the spotlight.