Return Merchandise Authorization or RMA is a systemic approach to handling product returns. It allows for better tracking, makes the processes quicker, and could thereby improve customer satisfaction.
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Traceability essentially means having insight into the chain of events that is your business. But how to achieve it and what are the mechanisms that support it?
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Setting up a business in Shopify is an easy thing to do. Properly managing that business, however, takes work. Here are some techniques and apps for effective Shopify inventory management. You can also listen to this article:
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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. You can also listen to this article:
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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.
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Implementing proper materials management methods allows businesses to make sure raw materials reach the shop floor at the right time, in the right quantity and quality. Follow these best practices to get more control over this essential supply chain function.
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Kitting could be a valuable addition to the managing practices of both your raw material and finished goods inventory. There are two types of kitting and numerous instances when either of them could prove useful.
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Demand forecasting could be the key to a business’s future. But how does it work and how could it be leveraged in a way that would be most beneficial?
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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.
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ABC analysis helps manufacturers get insight into their supply chain, reduce inventory, and improve inventory management. And it does not require a data analyst nor a substantial amount of resources to do it right.
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Safety stock is the buffer that helps manufacturers keep serving their customers when disruptions occur. Here is how it works.
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As warehousing becomes more complex, there is a need to automate all processes to align them with automation already taking place in supply chain management (SCM). Modern Warehouse Management System can help.
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