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The Challenges of Accurately Calculating Inventory Costs
Accurately calculating inventory costs can be problematic for many businesses. Regardless of the industry you operate in, inventory is often an organisations largest asset and accounts for a significant portion of the business expense account. Therefore, it is essential for companies to accurately assess factors affecting inventory management to he ... Read More
September 22, 2017 accurate costs, business costs, carrying costs, inventory cost, ordering costs8 Key Factors that Influence Freight Costs
If your business involves inventory - whether you are a wholesaler, manufacturer or retailer - freight charges are one of the key costs of doing business. ... Read More
April 28, 2017 carrying costs, freight costs, inventory management, purchase orders, recosting, supply chain managementAddressing Inventory Carrying Costs
It’s time to address a subject that a lot of companies fail to notice or incorporate into their business planning - the costs of carrying inventory. ... Read More
March 24, 2017 business capital, carrying costs, handling costs, inventory risk, inventory storageThree reasons to understand your inventory carrying costs
Inventory carrying costs can make up a significant amount of your expenditure when buying and storing goods. Especially for new business owners, carrying costs can often be forgotten about with only the purchase price of goods looked at. However, to capture your business’ true return and profit all costs need to be recognized and accounted [&hell ... Read More
February 19, 2017 carrying costs, handling costsOverstocked? Don’t despair! Tips for dealing with excessive stock
Being overstocked is a situation to avoid, however sometimes this is just not possible. You need to handle it properly and turn it into a benefit. ... Read More
January 24, 2017 business planning, carrying costs, excess inventory, inventory automation, overstockedIs Your Excess Inventory an Opportunity?
Excess inventory is expensive to keep around; the longer you hold on to excess or stale stock, the more you lose to handling and storage costs, depreciation and shrinkage. Crucially, so long as your excess and stale stock has value, by holding on to it, you are tying up capital that could otherwise be invested elsewhere in your business. Whether yo ... Read More
October 11, 2016 business capital, carrying costs, depreciation, excess inventory, surplus stock