A million-dollar question, literally and figuratively in every business, big or small, is “How much to order?”. EOQ helps answer this question. As a business owner, your main enemies are overabundance and/or shortage of goods. When you have inventory in large quantities sitting in your warehouse and no one| Deskera Blog
According to a recent study conducted by Statista, 76% of manufacturing executives in the United States identified inventory control optimization as a top priority for their organizations. The study also revealed that 83% of executives believe that advanced analytics and real-time data can significantly enhance inventory management capabilities.| Deskera Blog
Vendor Managed Inventory (VMI) transforms modern manufacturing operations by reducing lead times, improving fulfillment accuracy, and boosting sales.| Deskera Blog
The Inventory Reorder Point in inventory management is the minimum level of stock for a specific product.| Deskera Blog
Safety stock is an extra quantity of a product that is stored in the warehouse to prevent an out-of-stock situation, and retain customers.| Deskera Blog
Manufacturing lead time is the time it takes to produce a product or service. It includes the time duration from the start of the process till the delivery.| Deskera Blog
FIFO stands for First In First Out. FIFO in inventory valuation means the company sells the oldest stock first and calculates the COGS based on FIFO.| Deskera Blog
Cash flow refers to the money moving in and out of the business. Cash flows are found in operations, investing and financing functions of the business.| Deskera Blog
A blockchain is a distributed database, also known as a digital ledger, consisting of blocks that are strung together to hold the batches of time stamped transactions. Each block involved in that transaction is linked to the previous one, forming a timeline through cryptography that creates a chain of data known as Blockchain.| Deskera Blog
An SKU is a unique number or code allocated to each product that differentiates it from the other products in the warehouse., making it easier to track| Deskera Blog
The impact of RFID technology in the manufacturing sector is undeniable, as evidenced by staggering statistics. According to a recent study by Supply Chain Digest, companies implementing RFID technology experience an average inventory accuracy improvement of 27%.| Deskera Blog
Revenue is also referred to as sales revenue. Revenue is the amount of gross income gained through sales of items, products, or services.| Deskera Blog
Production planning is the process of deciding how a product or service will be manufactured before the manufacturing process begins.| Deskera Blog
Here's an in-depth guide on inventory management to help you optimize stocking and warehousing. Learn about benefits, techniques, and different challenges.| Deskera Blog
Inventory control is monitoring & managing a company's inventory and warehouse by keeping up the stock at desired levels.| Deskera Blog
A simple definition of eCommerce is that, E-commerce is the buying and selling of goods or services via the internet, and the transfer of money and data to complete the sales. It’s also known as electronic commerce or internet commerce.| Deskera Blog
Inventory costs includes the cost to order & hold inventory & admin cost. Ordering, holding, carrying, shortage and spoilage costs are some common costs.| Deskera Blog
Expenses in accounting are the cost of doing business, including a sum of all the activities that will hopefully generate profit for you.| Deskera Blog
KPI, or Key Performance Indicator, is a measurable and achievable metric that helps businesses track progress and measure effort towards a desired objective| Deskera Blog
What's inventory all about? Get clear definitions, explore various types, and understand through examples. Manufacturing basics made easy.| Deskera Blog
A technique for predicting future demand for a product is demand forecasting. Managers use different approaches to predict demand forecasting more accurately| Deskera Blog
A supply chain refers to the process designed to manufacture and sell the product, right from the supply of materials to the distribution and sale of the product.| Deskera Blog
Supply chain disruption is a term used to describe any event or situation that affects the normal flow of goods or services. This can include anything from a natural disaster, to a labor strike, to a pandemic.| Deskera Blog
Lead time is the total time taken from the initiation of an order until the goods are delivered and available for use or sale.| Deskera Blog
IoT describes physical objects with software, sensors, and processing ability that connect and exchange data with other devices and systems over the Internet.| Deskera Blog
ABC analysis is an important part of inventory management as it helps in categorizing stocks into three categories - A,B, and C, based on their revenue.| Deskera Blog
Just-in-time inventory is a term that implies ordering inventory only as they are required. This article will help you understand this method in depth.| Deskera Blog
Inventory is all the goods, items, and materials purchased or manufactured by a business for selling. In accounting, inventory is periodic or perpetual.| Deskera Blog
Looking for the best inventory management systems for small businesses? Enhance efficiency and simplify operations with our top picks.| Deskera Blog
Implementing inventory tracking software will help achieve real-time visibility, improve customer satisfaction, get data-driven insights, and reduce costs.| Deskera Blog
Deskera Cloud ERP software:The best software solution for business efficiency, cost reduction and decision making. Deskera ERP is one of the top ERP software.| Deskera
Warehouse management is the process of managing the storage and movement of goods & materials within a warehouse. It’s an important part of any supply chain| Deskera Blog
Manufacturing is the process of turning raw materials into finished products. It involves steps like designing, production, assembly, testing, and packaging.| Deskera Blog
ERP software allows your business units to automate every tasks. Read this article to know what is erp and learn best practices to complete your business needs| Deskera Blog
