News and Posts

Though it may seem counterintuitive, too much inventory isn’t good. In fact, the costs of bad inventory can be steep for a business — you could lose both money and time to poor inventory management. In serious cases, you could even lose your business altogether. Every company, from small businesses to mega-corporations, can be severely negatively impacted…

Your cost of goods sold is an important accounting metric that can indicate your company’s financial health. You’re also required to report your COGS to the IRS, making calculating your COGS an essential part of doing business. Let’s go over the formula for COGS and talk about why this figure is so important.  What Is…

If your business uses a periodic inventory system where you frequently update your stock levels and conduct physical stock takes, the idea of an inventory system that updates automatically in real time sounds pretty enticing. Indeed, transitioning to a perpetual inventory system has many advantages, including saving you time and providing you with more accurate…

To remain competitive and profitable, you need to do more than stock the right products. You need to stock the right product in the right quantity and at the right time. Effective demand forecasting helps you achieve this year after year. If you’re curious about this forecasting for your business, learn what you need to…

Once a business grows to a certain size, makes more sales and deals with more inventory, they realize it’s time to upgrade from manual inventory management to software-based inventory management. Then, once they grow a little more, they might even outgrow their current inventory management tool and decide it’s time for a more sophisticated, feature-rich solution. The good news…

On average, 20%-30% of a company’s inventory is dead stock — which is a sizeable concern. At its most basic, dead stock is inventory that’s impossible or very unlikely to sell. It’s a step above overstocked goods, which is at risk of becoming dead inventory unless it is sold or otherwise repurposed. Unsellable inventory is a huge…

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…

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…

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…