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How to Calculate Beginning Inventory and Why You Should Track It

Ship Monk

There are a lot of accounting terms thrown around when describing eCommerce inventory: merchandise inventory , WIP inventory , ending inventory , and beginning inventory to name just a few. Unless you’re a CPA, the differences are subtle and can be confusing. What is Beginning Inventory?

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10 reasons why you should use an ERP system in manufacturing

SYSPRO Smarter ERP

It also provides insights into how assets of the business, such as inventory, are being used. An ERP system brings financial, manufacturing, and business data into one central place so staff and management can have a complete view of how different business areas are working in real-time.

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How Does Inventory Affect Cash Flow: Stock Management Tips

GoShip Blog

When running a small business,one might wonder, how does inventory affect cash flow? Understanding this relationship is vital for effective stock management and financial health. A few concepts can help you improve your stock management, review the cost of goods, and upgrade the cash flow. How does inventory affect cash flow?

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The Connected Shop Floor and help from an ERP system

SYSPRO Smarter ERP

has been around since 2011, but it has taken time for manufacturers to understand what it means and what is needed to make it work. What is the Fourth Industrial Revolution? What is the Fourth Industrial Revolution? The concept of the Fourth Industrial Revolution (IR4.0) opportunities will impose considerable risks IR4.0

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LIFO Inventory Valuation Method

Ship Monk

How much is your inventory worth? There are several different methods, or cost flow assumptions, that can be used to value your assets at the end of the year, as well as determine cost of goods sold (COGS) during the year. The most common inventory valuation methods are FIFO, LIFO, Weighted Average, and Specific Identification.

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Perpetual Inventory System

Ship Monk

Perpetual inventory. What eCommerce owner wouldn’t love a perpetual flow of products guaranteed to never run out? Well, a perpetual inventory system does constantly monitor the flow of products in and out of your warehouse, but there’s a bit more to managing the inventory than that.

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Fixed Logistics Model vs Flexible Logistics Model

Locus

What is fixed logistics? A fixed logistics model is an asset-heavy model that businesses carry out for a fixed-term length in fixed locations. This model is best suited to manage complex logistics operations involving massive volumes of goods that require customization and automation. What is flexible logistics?