What Is Material Requirements Planning (MRP)

What Is Material Requirements Planning (MRP)

Material requirements planning (MRP) is a digital inventory management system that can be accessed through a variety of computer-based platforms. MRP is specifically developed to increase a company’s inventory efficiency by estimating raw material amounts and arranging timely deliveries. A … Read More

Everything You Need to Know About Inventory Management

Everything You Need to Know About Inventory Management

Whether you own a small business or a chain store, inventory management is just as crucial. The term inventory represents products available for sale or raw materials and items that are used to manufacture these products. The turnover of inventory … Read More

Everything You Need to Know About Purchase Orders

Everything You Need to Know About Purchase Orders

For small businesses, startups, or small orders, purchases of resources via emails or verbal agreements might suffice. However, as your business grows, a more organized and reliable system is needed for bigger inventory purchases. Purchase orders (Pos) can simplify procuring … Read More

how to start an Electronic Store in dubai

How to Start an Electronic Store Business in Dubai

Dubai is among the leading metropolis cities in the world booming with diverse businesses. The city boasts to be one of the fastest-growing economies around the globe and holds the position of the richest city in the Middle East. Opening … Read More

5 Tips to Effectively Manage Inventory for Online Stores

5 Tips to Effectively Manage Inventory for Online Stores

Inventory management is a crucial step for any lucrative business. Still, many small businesses take it very lightly and don’t practice good management of the products they sell. Such businesses may have too little inventory, failing to meet customer demand … Read More

cash-flow-statement

How Do You Calculate Inventory on Cash Flow Statement?

Inventory, or stock, refers to the goods or commodities held within a business for the purpose of resale or trade to generate profit. Changes in product levels in the business have an effect on the cash flow statement and its … Read More

How to Calculate Closing Stock in Balance Sheet

How to Calculate Closing Stock in Balance Sheet

Anyone who runs a business knows the importance of calculating closing stock. It is the amount of stock that is still available in the business to use or sell on a given date. It is usually calculated at the end … Read More