The inventory cost of purchasing an item – there’s more than meets the eye
When running a company, it is imperative to understand every reason for outgoing revenue and to try and find methods to reduce these so that the bottom line does not suffer. One such area that can sometimes take people by surprise is all the hidden costs associated with purchasing stock. They are not so much […] ... Read More
July 7, 2017 inventory cost, inventory management, inventory storage, shortage costs, warehousingControlling 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 cloud computing, holding costs, inventory, inventory cost, inventory management software, ordering costs, shortage costsDo 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 holding costs, ordering costs, sales forecasting, shortage costs, supplier management