Accounting

How to Calculate the Selling Price of Your Products?

Finding the right selling price for your products is a delicate process with many moving parts. Here are some tips to help you better understand that process.

How to Calculate the Cost of Goods Manufactured (COGM)?

Calculating the Cost of Goods Manufactured is a good way to get an overview of production costs and how they relate to the bottom line of your business. It allows management to identify cash drains, to adjust prices, and to track the development of the business.

Inventory Turnover Ratio – Formula and Tips for Improvement

The inventory turnover ratio is a good indicator of the performance of your company. Find a balance between sales and stock by using these formulas and tips.

What is Cost of Quality and How to Calculate It?

The Cost of Quality is the sum of the costs related to providing a quality product and the costs related to not providing a quality product. While an effective measure to identify cash drains, it can also be used to balance the price and quality relationship of your products.

Periodic vs. Perpetual Inventory System in Modern Manufacturing

Although a periodic inventory system might seem clear-cut and foolproof at first glance, its disadvantages may outweigh the benefits. Perpetual inventory systems, however, are already becoming mainstream.

What Is Safety Stock and How to Calculate It?

Safety stock is the buffer that helps manufacturers keep serving their customers when disruptions occur.

What Are Backorders and How to Manage Them?

Backorders are orders for goods that a company cannot fill at present because demand has outpaced supply.

What is Capacity Planning in Manufacturing ERP?

Capacity Planning used in conjunction with an ERP system can improve the accuracy of planning and help control costs as well as plan for future expansion and growth.

Why Food Manufacturing is Hard and How MRP System Helps?

For a food manufacturing business, many requirements must be met, which can vary depending on the type of food you make, the facilities that you use, and the market you operate in.

What is an Accounting Manual?

Accounting manual is a document in which every organization defines its accounting policies and procedures – in this article, we give an overview of its goals and contents.

Different purchasing practices for manufacturers

A robust and accurate planning system is critical to any manufacturer. In this article, we are comparing different purchasing practices – ROP/ROQ Principles vs MRP System Planning.

What Are Source Documents in Accounting?

The article gives an overview of what are accounting source documents and what are their goals, content, and examples.

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