A stocklist is a document that shows a comprehensive detail of all the products that a business has in stock. This is a dynamic list that is or should be updated as changes occur in the inventory. There are several benefits for businesses in keeping…
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12 Min Read
Imagine losing 15% of your annual revenue because of a poor alignment and contact between your procurement and financial departments. It’s even painful to think, right? But the good part is. You can save this cost and even increase your company’s revenue. Research indicated that…
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11 Min Read
There is a direct relationship between business success and revenue. A business is considered successful when it generates consistent revenue over the accounting periods. One of the main factors contributing to business success is how well it manages its inventory. Inventory comprises a major chunk,…
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10 Min Read
After World War II, when the world was slowly recovering from the aftereffects, Japan was contemplating how to regain its strength as quickly as possible. In 1952, Kiichiro Toyoda, founder of Toyota Motor Corporation, initiated the development of a system that could help them surpass…
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7 Min Read
If you run a business, especially with international or bulk shipments, you have already heard the term “shipping invoice.” This invoice is a legal document that establishes the contract between the supplier/seller and the buyer. When a company sends a freight shipment of goods, it…