Vendor invoice management sounds like a mouthful, but it’s really just a way to make sure you’re paying your suppliers correctly and on time. But it’s not as simple as it sounds. Almost more than 500 invoices are processed each month, which takes an average…
admin
6 Min Read
Buyback is a practice in which a supplier agrees to repurchase a predetermined amount of inventory from a retailer/wholesaler, at a predetermined price. Retailers or wholesalers return this inventory if it goes unsold. The buyback agreement decides the terms and conditions of this transaction. It…
admin
4 Min Read
Inventory procurement cost is a set of all the costs that a company incurs in acquiring inventory. Procurement cost can serve as an effective KPI to measure the cost-effectiveness of the business. Before learning about the different types of inventory procurement costs, it is essential…
admin
3 Min Read
A skid is a warehouse equipment made of a single deck platform. This platform is supported by stringers or runners which provide stability to the whole structure. Skids and pallets are often used interchangeably but there are slight differences in their making and functionality. Difference…