Inventory Solutions
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Inventory Solutions
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by Administrator 09.28.2022
What is an Inventory Audit? An inventory audit uses analytical procedures to check a company's inventory methods and confirm if the financial records match the actual count. While counting all your stock items can sound mind-blowing, with the right tools, an inventory audit can be effective and valuable...
What is an Inventory Audit? An inventory audit uses analytical procedures to check a company's...
What is an Inventory Audit? An inventory...
General Information
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General Information
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by Administrator 05.22.2022
Organizations across the globe need to maintain order, accuracy, and speedy service. There are plenty of management systems to combine data and processes, but one area that they end up failing at is inventory. Performing intensive counts (monthly or cycle counting) must be done with complete accuracy....
Organizations across the globe need to maintain order, accuracy, and speedy service. There...
Organizations across the globe need to maintain...
General Information
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General Information
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by Administrator 04.05.2022
Loss prevention is the action a business takes to reduce theft and fraud. These avoidable losses, caused by human error or deliberate efforts, are known as shrinkage. Shoplifting and employee theft make up a $61 billion annual loss in the retail industry. These incidents are encouraging retailers to...
Loss prevention is the action a business takes to reduce theft and fraud. These avoidable losses,...
Loss prevention is the action a business...
General Information
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General Information
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by Administrator 03.16.2022
An audit is important since it provides an objective and impartial view of an organization’s financial performance. A statutory audit is also a legal requirement. A year-end audit is critical to decision-making. Audit results provide questions about whether your internal controls and processes...
An audit is important since it provides an objective and impartial view of an organization’s...
An audit is important since it provides an...
Supply Chain
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Supply Chain
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by Administrator 01.02.2022
The supply chain is made up of several aspects such as the following: procurement sourcing raw materials manufacturing productions shipping, receiving, storing, and fulfilling managing reverse logistics (returns and exchanges) The goal of a supply chain is to become as efficient and operate...
The supply chain is made up of several aspects such as the following: procurement sourcing...
The supply chain is made up of several aspects...
General Information
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General Information
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by Administrator 10.11.2021
  A company that prepares for upcoming risks and plans possible actions to solve these risks can turn adversities into opportunities. Companies can analyze how they have performed during the crisis by collecting data and learn from these things. This information collected can help the leaders determine...
  A company that prepares for upcoming risks and plans possible actions to solve these...
  A company that prepares for upcoming...
General Information
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General Information
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by Administrator 08.10.2021
Maintaining inventory is still one of the challenging things that you will encounter in the retail industry. You will face various obstacles throughout the supply chain, but there are several ways to prevent these. The holiday season is a special time for so many people, and it can also be a challenging...
Maintaining inventory is still one of the challenging things that you will encounter in the...
Maintaining inventory is still one of the...
General Information
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General Information
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by  06.20.2021
Inadequate pricing verification can lead to many problems such as legal action, damaged business reputation, and many other complications. We do not want that to happen.  At one point, you probably have encountered being overcharged or undercharged at a retail store. Sometimes, you catch it at...
Inadequate pricing verification can lead to many problems such as legal action, damaged business...
Inadequate pricing verification can lead...
Supply Chain
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Supply Chain
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by  04.27.2021
The supply chain is defined as the system where a supplier and a company work together to deliver a product to a consumer. This would include the people involved, the materials needed for the production of the items, the storage facility, the marketing for the item, and the distribution and delivery...
The supply chain is defined as the system where a supplier and a company work together to deliver...
The supply chain is defined as the system...
General Information
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General Information
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by Administrator 03.11.2021
As COVID-19 hit a huge percentage of the world, life drastically changed. Social distancing became a necessity, and taking extra precautions with personal hygiene, such as regular hand-washing and wearing masks, became a norm. With business owners, more changes took place as they had to adjust to having...
As COVID-19 hit a huge percentage of the world, life drastically changed. Social distancing...
As COVID-19 hit a huge percentage of the...
General Information
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General Information
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by Administrator 02.20.2021
In a perfect and ideal setting, there is no reason to worry about inventory theft. However, the reality is that many businesses lose a lot due to inventory theft. This shrinkage can be traced based on the difference between the accounting records such as receipts, purchase orders, and physical count....
In a perfect and ideal setting, there is no reason to worry about inventory theft. However,...
In a perfect and ideal setting, there is...
General Information
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General Information
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by Administrator 01.17.2021
The beginning of the year is a crucial time for business owners. A new year spells out another chance to improve the business and increase profits. This is the time for businesses to drum up new strategies for marketing, set new goals for the organization, and even redesign the interiors. The new year...
The beginning of the year is a crucial time for business owners. A new year spells out another...
The beginning of the year is a crucial time...
General Information
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General Information
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by Administrator 12.14.2020
2020 is drawing to a close and brings with it the end of an eventful and difficult year. With all its complications and uncertainties, business owners have to face realities, and those whose businesses have survived also have to face the daunting task of counting inventory for the end of the year.  With...
2020 is drawing to a close and brings with it the end of an eventful and difficult year. With...
2020 is drawing to a close and brings with...
Supply Chain
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Supply Chain
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by Administrator 11.13.2020
The supply chain is a vital part of many businesses. It is key to the success of a company and customer satisfaction. It is an elaborate process that can reduce costs, and make a business more efficient. While machine learning and AI can improve the forecasts and demands, forecasting and delivery...
The supply chain is a vital part of many businesses. It is key to the success of a company...
The supply chain is a vital part of many...
Supply Chain
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Supply Chain
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by Administrator 08.06.2020
Coronavirus has disrupted a lot of things in every industry. The supply chain has also been greatly affected by the pandemic. When this virus first came out in the news, never would we have expected that things will escalate to where we are now.  The rapid spread of the virus has affected everyone...
Coronavirus has disrupted a lot of things in every industry. The supply chain has also been...
Coronavirus has disrupted a lot of things...
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Inventory Reports
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