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Margin vs. Markup: How Are They Different?
Margin and markup are often mistaken or used interchangeably. Because you calculate both using the same variables and the two figures are…
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Margin vs. Markup: How Are They Different?
Margin and markup are often mistaken or used interchangeably. Because you calculate both using the same variables and the two figures are closely related, it’s easy to mix them up. Understanding the difference between the two can give you a more complete understanding of your business so you can plan for long-term success. Let’s compare…
5 Tips for Stock Replenishment
When working in a retail setting, it’s essential to know how much product is ordered and sold. Cafes and restaurants need to examine their stock levels often, as the amount of product available can quickly shift day to day based on promotions, seasonal trends and customer spikes. For online businesses, knowing how much stock you…
Everything You Need to Know About Minimum Order Quantity
If you have an e-commerce business that’s considering adding another revenue stream with wholesale, you suddenly face the prospect of setting a profitable minimum order quantity for your goods. Whether you manufacture your products with raw materials or buy finished goods straight from a manufacturer, you’ve likely encountered an MOQ as a buyer. Maybe you’ve…
Just-in-Time Inventory: What It Is and How to Manage It
Just-in-Time Inventory: What It Is and How to Manage It Are you searching for ways to reduce your e-commerce inventory level and slash costs without affecting product availability and prompt order delivery? The just-in-time inventory management system may be your ideal solution. This article will cover everything you need to know about just-in-time inventory management…
Warehouse Inventory Management: The Ultimate Guide to Follow
When running a business, the most important thing you can do to keep your business afloat and successful is to practice proper warehouse inventory management. This is essential no matter the size of your business, and it’s especially imperative the more inventory you have to keep track of and coordinate. When your warehouse inventory is managed poorly, it can lead…
The Best Order Picking Methods for Your Warehouse
Order picking has a critical role to play in your warehouse operations. It impacts your efficiency, accuracy and customer satisfaction, and you can amplify your business by finding the right method.
Backordering: What Is It and How Can It Impact Your Business?
Online retailers lose $22 billion annually when products go out of stock. One way to reduce those losses is to place an item on backlog. As a retailer, you may sometimes see this from your suppliers or consider using the strategy yourself. So, what does it mean when an item is on backorder? Under this scenario, customers…
Why You Should Be Using Multi-Warehouse Inventory Management
If you are looking to implement multi-warehouse inventory management, you can use many strategies and tools to handle the logistics involved and save on expenses. One of the most essential tools you need is cloud-based multiple warehouse inventory control software like Finale Inventory. Here are some of the most important things you need to know when managing inventory in multiple warehouses….
What Is Inventory Turnover and How Do You Calculate It?
As an e-commerce business, your merchandise is your most valuable asset. It’s also one of your riskiest investments since your profitability depends on selling off your inventory and turning it into cash — also known as turning it over. When inventory is sold faster, companies have better cash flow and face fewer risks associated with…