What does inventory discrepancy mean? Inventory discrepancy refers to a situation in which the amount of inventory on hand is different from current inventory records. Though discrepancies in inventory levels are a common situation, it can lead to a loss in profit, which is why it’s important...
What does Remnant inventory mean? Remnant inventory refers to any ad units that have not been purchase by an advertiser, and that is sold at discounted wholesale prices Why is the Remnant inventory available? Remnant inventory is typically available because it does not sell, or last-minute cancel...
Ending inventory is the total value of products you have for sale at the end of an accounting period. Here’s how to calculate it and when to use it.
This does not mean that manufacturing businesses never purchase anything. Manufacturing businesses routinely purchaseraw materialssuch as wood, chemicals, metals, etc., that they use to manufacture a product. But their core operations are about manufacturing new products, not just buying and selling th...
What is pipeline inventory? Learn what it means, how to calculate, and how it can help support a your inventory management strategy.
To ensure the record cards are correct, store personnel will then need to at least count a few inventory items every day. This is so-called “continuous count” where it is spread out over the year rather than completed in one count at a designated time....
Why are inventory counts important? The key benefit of taking inventory of your stock is understanding what you physically have on hand versus what your stock count orinventory management softwaresays you should have. Human error, theft, and other issues can create discrepancies between your real-...
Cloud Inventory Free Product Tour MRO Inventory FAQs What does MRO mean in supply chain? Maintenance, repair and operations (MRO) refers to a range of activities that keep a company running on a day-to-day basis. Companies rely on their supply chains to provide the materials, tools and comp...
Do I have the personality, temperament, and mindset of taking on the world on my own terms? Do I have the required resources to devote all my time to my venture? Do I have an exit plan ready with a clearly defined timeline in case my venture does not work?
Again, consider the use of cell phones. Many people only need one; there is an extremely large jump in utility from owning zero cell phones to owning one cell phone. Should a market become quickly saturated with people who all own cell phones, a company can be stuck holding inventory. ...