A purchase order is a contract between the buyer and the seller and it gives specific information like product or services to be delivered, delivery date, and any other terms and conditions.
Inventory control is an activity of checking a shop’s stock and to maintain the inventory at desired levels, keeping in view the best economic interest of an organization.Read More
Inventory turnover ratio is an accounting ratio that establishes a relationship between the revenue cost, more commonly known as the cost of goods sold.Read More
Inventory valuation is a process to determine the cost associated with an entity's inventory at the end of a reporting periodRead More
The cost of goods sold (COGS) is any direct cost related to the production of goods that are sold or the cost of inventory you acquire to sell to consumers.Read More
Barcodes are an essential part of inventory management. With a simple scan of a barcode, you can do what would take several minutes, or even hours, to do manually.Read More
Bill of Material is a comprehensive list of raw materials, components, assemblies, sub-assemblies, parts, or anything which is required to manufacture the finished product.Read More