Congratulations on starting your manufacturing business! Now, getting started means you need products, but how do you figure out how many will be just right? It can be a bit tricky to determine how many products you’ll need in the first month, and then as…
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4 Min Read
A virtual warehouses is a digital solution that stores and manages the inventory. These also allow the businesses to holistically monitor and control the warehouses from one seat. Virtual warehouses can be used by businesses across industries to streamline their operations, especially inventory management. However,…
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11 Min Read
Introduction Direct procurement or direct spend involves acquiring goods or raw materials that directly contribute to producing the goods you sell. Indirect procurement involves acquiring anything other than goods or raw materials that are directly involved in the production of your product. It is more…
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4 Min Read
Forklifts are vehicles that are used in warehouses or other storages to lift heavy products. Sometimes, they automate the process and eliminate the need for labor. There are several types of forklifts, each designed for a different purpose. Let’s explore the many types below. Types…
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9 Min Read
Introduction How many businesses do you think manufacture their own products? Only a small percentage – 20%. The major 80% rely on third-party vendors to fulfill their business needs. Every business, whether small or large scale, has multiple vendors. If you are a business that…
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4 Min Read
In manual inventory management, businesses manage inventory with little to no use of technology. This means that inventory operations are carried out by employees/staff. As the business purchases and sells inventory, the staff updates the inventory records manually. This is opposite to what automated inventory…
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4 Min Read
An inventory count sheet is a document that physically records the inventory levels. By looking at this document, businesses can know the quantity of the products that are in stock. Readers may encounter some confusion between an inventory count sheet and a stocklist. Even though…
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9 Min Read
“Your product is only as good as your manufacturer.” The manufacturer you choose for either producing the raw material or getting the finished product directly determines the quality of your product, which ultimately impacts your business reputation and growth. According to the 2018-2021 data report…
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4 Min Read
ABC Analysis (also known as the ‘always better control’ method) is an inventory control technique that classifies products into three main categories: A, B, and C. This classification is based on which products are valuable to the business and generate the most income. Category A…