#exploreuniverseservices #costofgoodssold #COGS #InventoryTurnoverRatio #inventoryvaluation #SupplyChainPlanning #pickingandpacking #demandforecasting #supplychaincollaboration #DigitalSupplyChain #inventory #receivinggoods #3pl #thirdpartylogistics #LogisticsServices

overhead and sales & marketing. 𝟑. COGS is deducted from revenues (sales) in order to calculate gross profit and gross margin. Higher COSG results in lower margins. 𝟒. The value of COGS will change depending on the accounting standards used in the calculation.

such as distribution costs and sales force costs. The cost of goods sold is also referred to as the "cost of sales." 𝟏. Cost of goods sold (COGS) includes all of the costs and expenses directly related to the production of goods. 𝟐. COGS excludes indirect costs such as

𝐂𝐎𝐒𝐓 𝐎𝐅 𝐆𝐎𝐎𝐃𝐒 𝐒𝐎𝐋𝐃 (𝐂𝐎𝐆𝐒) Cost of goods sold (COGS) refers to the direct costs of producing the goods sold by a company. This amount includes the cost of the materials and labour directly used to create the good. It includes indirect expenses,

#inventoryvaluation #SupplyChainPlanning #pickingandpacking #demandforecasting #logisticstools #supplychaincollaboration #DigitalSupplyChain #supplychainsustainability #inventory #receivinggoods #3pl #thirdpartylogistics #LogisticsServices

calculate the days it takes to sell the inventory on hand. Calculating inventory turnover can help businesses make better decisions on pricing, manufacturing, marketing, and purchasing new inventory. #exploreuniverseservices #InventoryTurnoverRatio

𝐈𝐍𝐕𝐄𝐍𝐓𝐎𝐑𝐘 𝐓𝐔𝐑𝐍𝐎𝐕𝐄𝐑 𝐑𝐀𝐓𝐈𝐎 Inventory turnover is a financial ratio showing how many times a company has sold and replaced inventory during a given period. A company can then divide the days in the period by the inventory turnover formula to

#vendormanagement #SupplyChainPlanning #pickingandpacking #demandforecasting #logisticstools #supplychaincollaboration #DigitalSupplyChain #supplychainsustainability #inventory #receivinggoods #3pl #thirdpartylogistics #LogisticsServices

shoes at the end of the year, then you need to calculate their financial value and record it in your balance sheet. Let’s look at how and why you’ll calculate the value. #exploreuniverseservices #inventoryvaluation #inventoryreport #inventoryplanning

and to record it in the balance sheet, it needs to have a financial value. This value can help you determine your inventory turnover ratio, which will help you plan your purchasing decisions. To give you an example, if you run a shoe business and you’re left with 50 pairs of

𝐈𝐍𝐕𝐄𝐍𝐓𝐎𝐑𝐘 𝐕𝐀𝐋𝐔𝐀𝐓𝐈𝐎𝐍 Inventory valuation is an accounting practice that is followed by companies to find out the value of unsold inventory stock when companies follow preparing their financial statements. Inventory stock is an asset for an organization,

#demandforecasting #logisticstools #supplychaincollaboration #DigitalSupplyChain #supplychainsustainability #inventory #receivinggoods #3pl #thirdpartylogistics #LogisticsServices

inventory or running out of inventory when customers buy your products online. #exploreuniverseservices #inventoryreport #inventoryplanning #vendormanagement #SupplyChainPlanning #pickingandpacking

ordering, or the inventory you need for internal business use. Good inventory reports contain up-to-date information with a high level of detail and use visual to make it clear how many of a given item you have in stock. Inventory reports help you avoid over-ordering

𝐈𝐍𝐕𝐄𝐍𝐓𝐎𝐑𝐘 𝐑𝐄𝐏𝐎𝐑𝐓 An inventory report is a summary of the amount of inventory a business has on hand at a given time. The inventory report is a physical or electronic document with numbers representing the product you're able to sell now, the inventory you are

#pickingandpacking #demandforecasting #logisticstools #supplychaincollaboration #DigitalSupplyChain #supplychainsustainability #inventory #receivinggoods #3pl #thirdpartylogistics #LogisticsServices

𝟸. Supply chain efficiency 𝟹. Control of costs 𝟺. Accurate sales and demand forecasting #exploreuniverseservices #inventoryplanning #vendormanagement #SupplyChainPlanning

Evidently, inventory planning is an important aspect of any business’s success. 𝙂𝙤𝙤𝙙 𝙞𝙣𝙫𝙚𝙣𝙩𝙤𝙧𝙮 𝙥𝙡𝙖𝙣𝙣𝙞𝙣𝙜 𝙨𝙪𝙥𝙥𝙤𝙧𝙩𝙨 𝙨𝙚𝙫𝙚𝙧𝙖𝙡 𝙫𝙞𝙩𝙖𝙡 𝙗𝙪𝙨𝙞𝙣𝙚𝙨𝙨 𝙤𝙗𝙟𝙚𝙘𝙩𝙞𝙫𝙚𝙨 𝙞𝙣𝙘𝙡𝙪𝙙𝙞𝙣𝙜:- 𝟷. Customer service and satisfaction

Inventory planning usually affects the company in numerous ways. For example, it directly determines the cash flow of any organization and its profits margins with reference to those that have an over-reliance on fast turnovers of materials and goods.

𝐖𝐡𝐚𝐭 𝐢𝐬 𝐈𝐧𝐯𝐞𝐧𝐭𝐨𝐫𝐲 𝐏𝐥𝐚𝐧𝐧𝐢𝐧𝐠? Inventory planning refers to the process that any organization adopts to determine the optimal quantity as well as timing, with the sole aim of aligning such plans with the organization’s capacity to produce and make sales.