39 articles
In the simplest terms, the formula for calculating total manufacturing costs is: Direct Materials + Direct Labor + Manufacturing Overhead = Total Manufacturing Costs While this is how to calculate total manufacturing costs, there is a lot more that goes into getting an accurate number. Accord
Are you encountering bottlenecks in your production process? Are you getting behind on-demand and deliverables? You need to streamline your workflow to stay competitive in today’s rapidly evolving market. We’ll examine how to identify bottlenecks and streamline your sourcing in your
A technology stack, otherwise known as a solution stack, data ecosystem, or technology infrastructure, is a comprehensive list of all of the various technical services and tools used to build and operate a single application. They provide an easy and accessible way for developers to communicate lar
Finding a co-packer for your business can be a challenging task. It’s essentially entering a long-term relationship with a stranger without really knowing too much about them. You might know what their business values are from their website, but when it comes down to making sure your shipments are
Smooth operation from start to customer satisfaction is every business's goal. Automated inventory management can help skyrocket any business to a higher level of operations. As traditional manually counting inventory methods become obsolete, these automated inventory systems are not only managing
Retailers require a lot of e-commerce management and documentation. From packing slips and delivery notes to picking slips, bills of lading, and purchase order slips, there are many types of documentation to familiarize yourself with within the e-commerce business. So how is a packing slip differen
Summary: In this article, you’ll learn about the best practices and documentation methods for each stage of life of manufactured foods and beverages. By documenting each and every step of the supply chain and manufacturing processes in industry-specific software, businesses can lower costly mistake
Summary: In this article, you’ll learn strategies for adapting your inventory management techniques to help weather the COVID-19 tumult. These methods include adjusting forecasts, diversifying supply chain networks, and reevaluating existing measures of safety stock, lead times, and EOQs. Furthermo
The events of 2020 have made it one of the most disruptive years ever in the business world. No sector of business has been immune to the effects of the pandemic, and that includes manufacturing. However, contrary to what media outlets would have people believe, manufacturing is not, in fact, in gr
Summary: In this blog post, you’ll learn about inventory management. Topics include what is inventory management, why it’s important in 2020, inventory management amid the covid-19 pandemic, inventory accounting, inventory management techniques and best practices. What exactly is inventory manag
The internet has created new jobs, new opportunities, and new businesses—and one of them is that of the online retailer or e-tailer. In the US alone,1.8 million e-tailersare selling their products on e-commerce platforms or marketplaces such as Amazon and eBay. Online retailing faces new challen
In Part 1, we shared some of the key challenges and causes of ineffective inventory management. How there are nearly $2 trillion in mismanaged inventory costs across three main areas. Overstock inventory accounts for $471 billionOut-of-stock items accounts for $634 billionPreventable returns acc