A lot of merchants commonly mix up operating expenses and capital expenses. While the two relate in some areas, these two represent totally different things. An operating expense (OPEX) is an expense required for the day-to-day functioning of a business. On the other hand, a capital expense (CAPEX) is an expense a business incurs to... Read more »
Supply Chain Management (SCM) requires proper management of many complex dependencies between teams, departments and partners across international boundaries. Due to this, data plays a key role in allowing us to run an efficient supply chain. Supply chain efficiency is vital to optimizing all levels of the supply chain. Supply Chain Metrics Supply chain metrics… Read more »
When it comes to storage cost, there’s a lot of different elements that could be labeled under that term. While some retail companies can rely on their own warehouses to store inventory, others must find an affordable solution for their inventory. There’s a number of different expenses a company can have as it pertains to… Read more »
The law of supply is known as a basic principle in economics, it assumes all else will be constant, an increase in the price of goods will have a corresponding direct increase in the supply thereof. The law works similarly for decreases in prices. There’s two key facts you should know about the law of supply.… Read more »
What Is Cost of Goods Sold – COGS? Cost of goods sold (COGS) refers to the direct costs attributable to the production of the goods sold in a company. This amount would include the cost of materials used in creating the goods as well as direct labor costs used to produce those goods. What would… Read more »
It’s always important to evaluate your company on a regular basis to ensure you’re hitting your goals. While this is true for every type of business, in retail, it’s vital to your success. One of the most important departments for any retailer is inventory management. Managing inventory is vital to the success of your business… Read more »
If you know anything about supply chain management, you already know how vital it is to run your supply chain efficiency. We’ve discussed this very thing in our article on logistics management. There’s a lot of working pieces to a supply chain. Supply chains have multi-levels and can give your company a big competitive advantage… Read more »
Logistics management is a term that’s well known in the retail industry and supply chain. It’s a supply chain management component that’s used to meet customer demands through the control, planning and implementation of the effective movement and storage of related information, goods and services from origin to destination. Logistics management has a wide range… Read more »