November 13, 2019

Examples Of COGS (Cost Of Goods Sold)

The growing popularity of online marketplaces like Amazon, Ebay and Etsy has driven massive growth for retailers of all sizes. Some of these companies operate exclusively through online retail, taking advantage of a worldwide target market that doesn’t carry high expenses. Despite leveraging the online marketplace, these retail businesses are still required to pay taxes… Read more »

November 10, 2019

Economic Order Quantity

Economic Order Quantity, also described as (EOQ), is a measurement used in the field of Logistics, Operations and Supply Chain Management. In short, EOQ is a tool you can use to determine the volume and frequency of orders needed to satisfy a specific level of demand while minimizing your cost per order. If your assumptions… Read more »

November 7, 2019

Retail Warehousing: The Benefits, Pros And Cons Of Conversion

The concept of a retail warehousing comes from the continued decline of available warehouse space in the United States. According to the Wall Street Journal, retailers throughout the country are experiencing a shortage of available warehouse capacity. The effects of less warehouse capacity causes a lot of issues for retailers, from an inability to meet ecommerce demand… Read more »

November 2, 2019

Retail Inventory Management

While there’s a number of different types of inventory management you can focus on, today is all about retail inventory management. Retail inventory management is not “attractive” or “fun,” but you can bet your bottom dollar that it’s a key component to the success or failure of your business. We still remember when Walmart lost… Read more »

November 1, 2019

What Is Multi-Channel Retailing?

Multi-channel retailing is the practice of using multiple channels to sell your products. Multi-channel-retailing strategies force you to think outside the box, leaving the comfort of a website and exploring other channels that could drive potential customers to your brand. There’s no question about it, consumers are using more avenues today to shop for the… Read more »

October 27, 2019

Inventory Receiving: (7) Ways To Master Your Receiving Process

When it comes to warehouse management, one of the first steps of operations is receiving inventory. If the inventory coming in is messed up, everything else that follows is going to be messed up too. It doesn’t matter what industry you’re in, receiving inventory is what sets up the rest of your operations. It’s a… Read more »

October 24, 2019

Dead Stock: What Is It And What To Do About It

What is Dead Stock? Inventory that doesn’t turn over, also referred to inventory that doesn’t sell, is often referred to as dead stock. If a business doesn’t have software for their inventory management, dead stock can remain on warehouse shelves for long periods at a time. If inventory is “dead” and sitting around gathering dust,… Read more »

October 19, 2019

Inventory Holding Costs

Inventory holding costs refers to “costs” associated with storing inventory that remains unsold. These costs are one component of total inventory costs, along with ordering and shortage costs. A company’s holding costs can include a number of different elements; Prices on damaged goods Labor cost Storage cost Insurance cost Materials Supplies Holding Costs Definition: Holding costs… Read more »

October 16, 2019

Supply Chain Metrics: 12 Key KPIs You Should Be Focusing On

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 »

October 13, 2019

Storage Cost: How Much Does It Cost To Store Inventory?

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 »