An inventory management system performs functions like managing inventory, tracking product movement and orders, etc. The streamlining of inventory management also ensures that the right amount of inventory is available at the warehouse for order fulfillment. For this, there are multiple types of inventory management…
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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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3 Min Read
What Are Retailers? A retailer is an individual or business that directly sells goods to consumers. Retailers are the intermediaries between wholesalers and consumers. They purchase products in bulk from wholesalers and then sell these products in single units to the consumer. Types of Retailers…
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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…