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Topic: ordering costs

Source Local or Go International?

Sourcing the right materials and components for your business is a big decision. There are a multitude of factors that come together that will shape your decision making process when deciding between a domestic or international source. Domestic sourcing occurs in the same country as the buyer, whereas international sourcing occurs in an overseas ma ... Read More

  March 14, 2018     

What Does the Future Hold for Brick-and-Mortar Retail?

Retail is changing rapidly. The future is uncertain as online shopping has had a sweeping presence that has changed the playing field dramatically. There has been a shift in buying behaviour. Consumers are trending towards digital buying platforms. Meanwhile, brick-and-mortar retailers are battling to compete. With ecommerce giants like Amazon, com ... Read More

  March 7, 2018     

Cutting Costs on Your Cost of Goods

No matter what good a company is producing, the cost of the materials needed to produce that product directly impact profits. Cost of goods sold, otherwise known as COGS, is simply the costs of the products produced and sold, or purchased and sold again by a company. The cost of goods can include the cost […] ... Read More

  February 26, 2018     

Which Volume Pricing Approach is Best for Your Business?

As consumers, we’ve all experienced the way that volume pricing can affect the way we perceive value. Take one slice for $2 or two slices for $3.50? It’s a no brainer – buy two and save one for later. Volume pricing is fundamentally about increasing sales volume, even at the expense of a lower per […] ... Read More

  November 25, 2017     

How To Set Adequate Prices

Balancing Pricing with Ordering Costs Pricing strategy is an extremely important factor that contributes to a business’ overall revenue potential. Implementing prices that are considerably low may attract the customers interest, but it may also fail to offset behind-the-scenes expenses attracted by manufacturing costs, machinery costs and orderin ... Read More

  September 27, 2017     

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     

Controlling Inventory Costs: Ordering, Holding and Shortage

Impact of inventory costs Inventory is likely to be one of your biggest assets. Given the size of inventory on a typical business’ balance sheet, significant inventory costs are to be expected. Although the cost of procuring stock is the most obvious component, a range of other inventory costs (such as ordering costs, holding costs […] ... Read More

  May 27, 2017     

Do You Know the True Costs of Inventory?

There are three costs of inventory that should be carefully considered as they can drastically affect the bottom line without any apparent cause. ... Read More

  April 18, 2017