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What Is a Markup?
In 2021, U.S. companies had their most profitable year since the 1950s, and much of that is a result of increasing markup averages across…
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What Is a Markup?
In 2021, U.S. companies had their most profitable year since the 1950s, and much of that is a result of increasing markup averages across and within industries. The average markup percentage that same year was 72% above marginal cost. Rising markups aren’t a new phenomenon. Research shows about a 25% increase overall between 2006 and 2019. Knowing what percentage to mark…
Is Inventory Considered a Current Asset?
Whether your business deals in raw materials, components and parts or finished products, your inventory is an essential source of potential revenue. It represents a significant investment and is part of your total current assets. Learn more about what current assets are and the best way to calculate and use your current assets. What Is…
QuickBooks Solution Provider Program Helps Finale Users with Inventory Accuracy
Finale Inventory is proud to announce that we’ve joined Intuit’s QuickBooks Solution Provider Program. Small business owners can reduce errors and save time on manual transactions all while increasing efficiency with our tightly integrated inventory and accounting solution. By taking advantage of our bundle offer that combines QuickBooks Online and Finale at a discounted rate,…
9 Signs You’ve Outgrown Your Current Inventory Management Software
When you are trying to run a business efficiently, a lack of helpful tools or outdated tools can make work stressful. While inventory and stock are not the most glamorous areas to manage, they are necessary to your business’s success. That’s why every business needs an efficient inventory management system, whether upgrading an existing system…
A Guide to Inventory Accuracy
It’s important to keep track of stock to inform customers about which of your products are available and which aren’t. An accurate inventory also lets you plan around future shortages and demands. By keeping track of your production stock and raw materials, you can account for existing products and know when you need to make…
Strategies for Direct-to-Consumer Manufacturers
Until the rise of e-commerce, the shopping experience relied solely on retailers and distributors. However, more manufacturers are turning to a more direct customer journey. Direct-to-consumer (D2C) selling allows manufacturers to forego distributors and gain several benefits, like a deeper relationship with consumers. Direct-to-consumer selling can seem daunting for manufacturers that depend on retailers to…
What Is a Packing Slip and Why Is It Important
Many customers may disregard packing slips as soon as they open their packages. Yet, these pieces of paper are essential to many e-commerce businesses in various industries. Packing slips contain much information that helps businesses and customers evaluate what a package contains, reducing packing mistakes and improving communication between buyer and seller. While the availability…
The Complete Guide to Understanding SKU Rationalization
Stock-keeping units, or SKUs, are crucial tools for inventory management. They provide identification for your products and help businesses keep track of available inventory. You can also use them to track sales trends, optimize future items and improve the customer experience at your stores. However, managing the number of SKUs in your inventory is important….
Everything You Need to Know About the Bullwhip Effect
Businesses use the supply chain to order and distribute goods to consumers. Supply chain layers work together to create and distribute products across the globe. However, disturbances in this chain can disrupt access to goods and other business functions. In the phenomenon known as the bullwhip effect, retailers make larger orders in response to sudden…
What Is a SKU?
Retailers and manufacturers use a variety of identification methods during inventory management. These codes help you organize products and maintain inventory accuracy, which is crucial for business success. One example is a SKU. Inventory professionals use these frequently for various inventory operations. But what does SKU stand for, and how are they used in inventory…