‘Days sales in inventory’, alternatively referred to as “days in inventory (DII)”, “days in inventory outstanding (DIO)”, or “inventory days of supply”, serves as a measure indicating the number of days a business maintains its inventory based on sales value. A common misunderstanding is associating ‘days sales in inventory’ solely [...]

Cycle count vs physical count is a comparative analysis of two methods of counting inventory, and how and when they should be implemented. Precise inventory data plays a pivotal role in the success of a business as it directly impacts various aspects ranging from customer satisfaction to financial management. Inaccurate [...]

Reverse logistics refers to the reverse of the conventional flow in the supply chain, where products are transported from the end consumer back to the manufacturer. This facet of supply chain management encompasses various activities such as managing returns, refurbishing, recycling, and disposal. It plays a crucial role in handling [...]

30/01/2024 In the realm of business, it’s a reality that not every product will experience swift sales. This is an inherent cost that every business must accept. When a company faces a situation where its inventory fails to sell and loses all market value for various reasons, it is required [...]

23/11/2023 For businesses dealing with physical products, the recorded inventory often exceeds the actual on-hand inventory due to various reasons, collectively known as shrinkage. This discrepancy, whether caused by theft, fraud, manufacturing or shipping errors, spoilage, or other unfavorable factors, can lead to financial losses. Shrinkage not only impacts a [...]

23/11/2023 Freight shipping serves as a method for businesses to move bulk shipments that go beyond the weight and size limitations of parcel packages. Typically, this type of cargo is packaged and transported on pallets. What is Freight?r The term “freight” can be used to refer to any cargo requiring [...]

08/11/2023 Managing inventory poses a significant challenge for businesses with warehouses. As the quantity of items in storage increases, the task of monitoring them without the aid of an inventory list becomes increasingly difficult. Such a list not only helps in keeping tabs on possessions but also offers valuable insights [...]

03/11/2023 In the conventional approach to inventory management, retailers buy products from suppliers in advance and assume responsibility for unsold items. However, an alternative supply chain strategy transfers the burden of inventory costs from retailers to suppliers. This consignment inventory model involves the manufacturer, wholesaler, or supplier retaining ownership of [...]

17/10/2023 As the business landscape increasingly embraces e-commerce platforms, logistics has followed suit. The upward trajectory of global e-commerce sales shows no signs of slowing down, making the demand for efficient, cost-effective, and integrated warehousing solutions more critical than ever. Projections indicate that the global e-commerce market will exceed $5.55 [...]

20/09/2023 According to India’s MSME Ministry, about 6.33 crore or 66.3 million MSMEs are registered in the country as of 2021. Of these smaller businesses, the ones that do well are those that are able to find ways to efficiently manage their operations and grow, while lowering costs. Small businesses [...]