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Exploring best eCommerce analytics tools for online businesses in 2022

Inventory Management

11 min read

Top 5 eCommerce Analytics Tools to Check Out Now!

Merchants around the world are under pressure to create eCommerce websites that meet the standards and expectations of today’s consumers. And with good reason – online shopping is now the norm. As a business owner…

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SKU number SKU number

Inventory Management

What Does the SKU Number Stand for? Click to Know!

The term “stock keeping unit” refers to a number (typically eight alphanumeric digits) merchants assign to items to monitor stock levels internally. SKUs should include data on a product’s most significant features, such as price,…

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Ending inventory formula Ending inventory formula

Inventory Management

The beginning and ending inventory formula

Ending inventory refers to the monetary worth of a product that is still available for purchase at the end of an accounting period.    It is an essential component for calculating the Cost of goods…

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COGS formula COGS formula

Inventory Management

What is the cost of goods sold? COGS formula

Cost of Goods Sold is essentially the cost of manufacturing the products that the company ends up selling.    When it comes to tangible commodities, it usually comprises the value of current inventory and any…

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Inventory Management

Procurement vs Purchasing: main differences explained

Procurement and purchase are frequently perceived as the same and are often used interchangeably. However, it is vital to understand that procurement and purchasing are two separate processes, and despite their similarities, they perform different…

11 min read
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The just-in-time management The just-in-time management

Inventory Management

Just-in-time (JIT) inventory explained

Investopedia defines the just-in-time (JIT) inventory management strategy as a system that arranges raw materials, finished goods, and other types of inventory with production or retail schedules. The main initiatives of applying just-in-time inventory management methods…

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stock controlling stock controlling

Inventory Management Multichannel Sales

Which Stock Controlling Method is the best for you?

Before we dive deeper into specific strategies of stock control and inventory management system, let’s first define stock controlling.  Stock control or inventory control, is the act of having the precise amount of stock on…

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Inventory control Inventory control

Inventory Management

What is inventory control, and how to automate it?

Inventory control helps you keep track of your inventory levels. This helps you to make the most of your resources, satisfy consumer demand, and avoid product deterioration while reducing costs.    It aims to manage…

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Omnichannel retailing definition Omnichannel retailing definition

Inventory Management Multichannel Sales

Omnichannel retailing definition. Should you implement it?

Customers have a wide array of new channels with which they get familiarized with various products and services and make purchases. They can utilize many channels simultaneously when shopping; search on one channel, and purchase…

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What is good inventory turnover ratio What is good inventory turnover ratio

Inventory Management

High or low? What is a good inventory turnover ratio?

Wonder what is a good inventory turnover ratio for your company and whether your company’s current balance is good or bad? We got the answer!   Inventory turnover, often known as stock turnover, measures how…

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Inventory Management

Inventory counts: its methods and main benefits

Physical inventory counts are usually tedious and time-consuming tasks for employees. It usually requires business operations to stop because no inventory movement should happen in warehouses or stores. Thus, both business owners and employees are…

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Average inventory formula Average inventory formula

Inventory Management

Average inventory formula: how to calculate average inventory

Inventory management is crucial for minimizing and controlling inventory-related costs and meeting customer demands. There are many tools and techniques that businesses apply to improve inventory management processes. One of these is calculating and analyzing…

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Inventory Management

Inventory control methods

Choosing the best-fitting inventory control technique is a complicated decision for a business. With the business growth, inventory management becomes a more challenging task. Thus, it is crucial to set a well-informed and proper foundation…

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Cycle counting Cycle counting

Inventory Management Wholesale Management

Inventory cycle count: Definition & IRA formula

Cycle counting is an essential tool when it comes to ensuring accuracy in inventory management. It helps to estimate the accuracy between the physical inventory and accounting recordings.    What is inventory cycle counting?  …

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QR code vs barcode QR code vs barcode

Inventory Management Multichannel Sales

QR code vs Barcode: what you should use?

When it comes to inventory tracking, you hear a lot about QR codes and barcodes. Both of them hold data about an item that a scanner can read. However, before deciding which one is a…

9 min read
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Barcode inventory Barcode inventory

Inventory Management

Barcode Inventory: How can You Implement It?

If you want to find a way to keep track of your company’s inventory and ensure that you don’t run out of products, then a barcode system is the way to go. Barcode inventory systems…

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