When we say inventory valuation– we are talking about an accounting technique. To be precise, it is a method to assess the value of unsold stock in time of financial statement preparation. It is usually done at the end of every financial year. Learn more about it in this blog post. And let us also…
Category: Inventory
Inventory
Create your Product Catalog
When it comes to showcasing your products to your customers– you have to be creative. That’s where a product catalog comes in. What’s a product catalog? It is a form of marketing collateral to help customers make a decision to purchase by listing important product information. Such specifics include product features, specifications, measurements, size, weight,…
Find your Products and Supplier
Learn to Find your Products and Supplier. Where can you find them? That’s probably the question you have in mind as you stumble upon this post. Perhaps you’re on your journey to start your e-commerce business. Actually, most entrepreneurs– who are building a startup–do ask that too. And in reality, even those who’ve been in…
Receiving Process
Think of your business as the whole stage in a play. While selling your products or services is the main stage, there are a lot of things to do in the backstage. There are processes that you need to keep in mind in order to run it smoothly. One is the Receiving Process. Once you…
Purchasing Process
Start learning what Purchasing Process. Whether you are preparing to start your own business or you are trying to expand it, you are doing the right thing to do some business blog reading. Especially if you want to make sure that everything is on the official and legal side. For this post, it’s all about…
Financial Statements
Running a business is not about just buying/manufacturing products and selling them to make a profit. That is just the basic. There are many things to do and to acquire knowledge about to ensure business success– like marketing, accounting, etc. But as you are reading this article, I can feel a sense of urgency and…
Inventory Process
For startups, managing the inventory is easy. But when more sales come in as your business grows– that’s when it will be difficult. You could miss some sales, overstocked, and many more errors and problems might arise. On that point, you’ll wonder what you may have missed. What you may have done to avoid it….
Ideal Inventory Level, Why is Safety Stock Important?
Managing your inventory may not be the most exciting part to do for your business. However, it is a crucial part of it. It determines how things are running in your warehouse that would reflect the growth of your business. Actually, it determines everything, it is the backbone of your business. It is important to…