Inventory takes up to 20% – 30% of the total business budget. Keeping track of inventory, aka effective inventory management, is the only way to keep a business running and profitable. However, the problem with inventory management is that businesses mostly focus on the products…
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3 Min Read
The recommended retail price is the retail price the manufacturer suggests for a product. This price is also known as manufacturer-suggested retail price (MSRP), list price, sticker price, and suggested retail price (SRP). This is the price the consumer pays for the final product. However,…
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4 Min Read
Consumer behavior and habits are ever-changing. As a result, brands must constantly adapt to meet the needs of their customers. Many economists say consumer spending is a key factor in economic performance. It is the primary driver of U.S. economic growth and reflects a country’s…
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9 Min Read
One thing that keeps your business running and your cash flow healthy is your balanced and well-maintained inventory. And if not maintained well, you can see cash flow disruptions, revenue drop, and poor customer retention. Many businesses in the US lose on average $1.6 trillion…
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5 Min Read
Bonded warehouses are storage spaces that are authorized and regulated by the country’s customs authority. These are used by businesses to store products to defer the payment of duties until the products are moved within the customs territory. These warehouses can facilitate international trade. There…
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4 Min Read
For e-commerce businesses, finding a cost-effective and reliable package delivery service is important because it can directly impact customer satisfaction and experience. Poor delivery service can negatively impact the business by damaging its reputation, leading to negative publicity. Today, we will dissect one of the…
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6 Min Read
When it comes to global commerce, the International Chamber of Commerce sets specific rules and roles to define the responsibilities of the seller and the buyer in the trade contract. DDP (Delivered duty paid) is an international commercial term also known as Incoterms. It is…