Archive | Inventory

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How To Estabish Payment Terms With Your Suppliers

How To Pay Suppliers, Establish Credit, Deal with Future Delivery Problems In most of the relationship between suppliers and the business they supply to work on some sort of credit basis. A supplier who has been supplying merchandise for business on a regular basis, expects to give a time period of credit for about 30 […]

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How To Find And Deal With Business Suppliers

Finding Suppliers For A Business Retail businesses depend upon suppliers. Depending upon the scale of your business and your inventory selection, you may make do with just a few or need many dozens of suppliers and vendors. If your business has been running for some time and is a popular one, you will get leads from […]

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Basics Of Maintaining Inventory

Typically, when you have been in business for some time, your inventory tracking system should be able to tell you when to buy, what to buy and how much to buy. For business startup, this projection gets to be a little difficult because you don’t have any previous sales figures to base your sales expectation […]

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Accounting For Inventory – FIFO and LIFO Methods

Every business owner should understand how the basics of accounting for inventory takes place. Although you will probably not be able to go through these calculations accurately without the help of a business account, you should be aware of the two basic methods that are used to calculate the value of inventory. Evaluating inventory for […]

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How To Increase Profit By Increasing Inventory Turnover

What is Inventory Turnover, How it Affects Business Profit, How to Increase Inventory Turnover It is a commonly acknowledged fact that by reducing the time that it takes to turn over the inventory for your business, you can increase the earning potential and profit as well. The business is considered to have turned over its […]

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How to Choose a POS Tracking System

Features that you may consider in order to choose the right POS tracking system. Ease of use Make sure that the interface of the BeOS tracking system that you choose is something that you understand and are comfortable working with. Some prefer a detailed interface whereas other people prefer the option of being able to […]

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What Is Radiofrequency Identification, RFID

Radio frequency identification, RFID is a method of tagging products that helps in various business processes like inventory tracking, sales checkout, asset tracking, loss prevention and stock management. Until now, RFID and technology is considered to be the domain of mainly large businesses. However, since the cost is the only restricting factor for small businesses, […]

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How Inventory Turnover Affects Business Profit

It is a commonly acknowledged fact that by reducing the time that it takes to turn over the inventory for your business, you can increase the earning potential and profit as well. The business is considered to have turned over its inventory when it has replaced 100% of the original inventory. Important factor to be […]

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What Is Inventory Tracking – How Is It Done

In order to implement inventory control and to manage your inventory in one way or the other, you need to have some sort of an inventory tracking system in place. An inventory tracking system helps you keep track of what has been sold, how much merchandise is in stock and how much you need to […]

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How Inventory and Stock Affect Cash Flow

Relationship between Inventory and Cash Flow Control As we have briefly mentioned in the previous post, your stock and inventory has a direct effect on cash flow of your business. You will be well aware of the fact that the cash flow is an essential factor that any business depends on for running smoothly. Any […]

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