Product bundling is a marketing strategy companies can use to increase sales and maximize profits. It involves offering multiple products or services as a "bundle" of items. This strategy can attract new customers, increase customer loyalty, and drive sales.| Deskera Blog
It is a manufacturing method where different goods are produced on the same production line according to irregular production schedule| Deskera Blog
The acquisition of materials is the primary distinction between toll manufacturing and contract manufacturing.| Deskera Blog
Jump Start Your Growing Business with Deskera. Get Amazing Insights to Grow & Run Your Business With Articles on Accounting, Sales, Human Resources and More| Deskera Blog
It is the process of assembling components to build automobiles, trucks, and other motor vehicles. Its 4 steps are designing, building, quality checks| Deskera Blog
This is because it affects all aspects of life, and the decisions and actions of individuals,businesses,and governments can impact our future significantly.| Deskera Blog
It is a systematic and ongoing process of introducing new products, services, business models that create value for customers, improve business performance.| Deskera Blog
Depreciation represents the decrease in the value of an asset due to its continuous deterioration through its useful life. Companies calculate depreciation to estimate how much their assets have decreased in value over time.| Deskera Blog
Unit of Production method calculates the depreciation for the asset when the asset’s value is closely related to the number of units produced| Deskera Blog
The straight-line depreciation method depreciates the value of an asset gradually, and linearly, over the years it is used.| Deskera Blog
An element or resource that is not physical but assigns a considerable value to a company is called an intangible asset. Besides this definition, this post offers insights in: * Description of Intangible asset * Difference between Tangible and Intangible assets * Types of Intangible assets * Characteristics of Intangible assets * How to value| Deskera Blog
The three most widely used methods for inventory valuation are: First-In, First-Out (FIFO), Last-In, First-Out (LIFO), and Weighted Average Cost| Deskera Blog
Cost of Goods Sold = (Beginning Inventory Value - Ending Inventory Value) + Total Inventory Purchases + Direct Costs. Learn with FIFO & LIFO examples| Deskera Blog
The income statement is a comprehensive breakdown of your company's operating and non-operating expenses and revenue.| Deskera Blog
Obsolete inventory refers to items in a company's inventory that are no longer in demand or have lost their market value. These products may have become obsolete due to changes in technology, consumer preferences, or other factors that have made them irrelevant or unattractive to buyers.| Deskera Blog
Overstocked inventory ties up valuable resources, takes up valuable storage space, and can ultimately result in wasted resources and lost profits. Understocked inventory, on the other hand, can lead to stockouts, dissatisfied customers, and missed opportunities.| Deskera Blog
Prioritizing quality management led to long-term growth, with top-performing companies reporting 26% higher return to shareholders than their peers.| Deskera Blog
APIs act as bridges between different software systems, allowing them to communicate and share data seamlessly.| Deskera Blog
The total cost of goods in a company's inventory that has not been used for manufacturing or producing finished goods is known as raw materials inventory. The goods which are now in stock and available for usage, are referred to as pre-production inventory.| Deskera Blog
Just-in-Time Inventory is an inventory management method that aims to provide inventory, raw materials, and workers only at the time of need.| Deskera Blog
Landing pages ensures the highest returns on investment in the form of leads generated. These pages are focused on specific, short-term goals.| Deskera Blog
Backordering refers to the order of a product which is out of stock currently. The product could either be unavailable in the company’s inventory or is under production.| Deskera Blog
A bill of materials (BoM) is a thorough rundown of parts, components, assemblies, and different materials needed to make a product.| Deskera Blog
The LIFO method records for the inventory where the most recently purchased goods are sold first, thus generating higher revenue in an inflationary market.| Deskera Blog
A Manufacturing Execution System or an MES assists firms in ensuring that their manufacturing activities are up to the mark. The system also takes care of the efficiency of their output. It is a software system that connects the manufacturing floor's machines, work centers, and data flows. It assists in tracking and managing these data flows.| Deskera Blog
The pharmaceutical industry loses about $50 billion in view of the overall shortcoming of batch processing. It's because of time requirements, delivery mishaps, damage, or the cost of a review.| Deskera Blog
Understanding the production cycle in manufacturing is important because it helps ensure that goods are produced efficiently, cost-effectively, and safely. It also enables manufacturers to identify areas where improvements can be made and helps them plan for future production needs.| Deskera Blog
Lean manufacturing has contributed to a 25 percent increase in productivity. Additionally, it has resulted in a 20 percent reduction in lead times [https://www.deskera.com/blog/lead-time]. Lean manufacturing is a business philosophy focusing on reducing production waste. It aims at improving efficiency and creating a better working| Deskera Blog
Avoiding expenses related to late deliveries improves a manufacturer's financial success. Running a business requires proper understanding of how long a task will take to finish. For daily tasks, long-term projects, and industrial processes alike, knowledge is power.| Deskera Blog
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
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
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
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
Production planning is the process of deciding how a product or service will be manufactured before the manufacturing process begins.| 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
A business budget is a spending plan based on your income and costs for your company. It determines your available capital, forecasts your spending, and aids in income forecasting. A budget can assist you in planning your business activities and serve as a benchmark for establishing financial goals.| Deskera Blog
A vendor can be described as a person, company, or group that distributes goods and services to businesses, companies, and ultimate customers.| Deskera Blog
The Inventory Turnover Ratio is the number of times a company sells or replaces the inventory during a given period.| Deskera Blog
In depth coverage of cash flow statements, with preparation, calculations and examples. Download ready to use cash flow statement templates for free.| Deskera Blog
Capital is the asset that allows your business to produce a product or service to sell to customers. It can be financial assets or raised from financing.| Deskera Blog
In business, sustainability refers to the ability of a company to operate in a manner that meets the economic, social, and environmental needs of the present while also ensuring its long-term viability.| 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
A supplier in business can be described as a person or an entity that supplies goods and services. This is the part of the business's supply chain that provides the bulk value of a particular product.| Deskera Blog
