/** * The main template file * * This is the most generic template file in a WordPress theme * and one of the two required files for a theme (the other being style.css). * It is used to display a page when nothing more specific matches a query. * E.g., it puts together the home page when no home.php file exists. * * @link https://developer.wordpress.org/themes/basics/template-hierarchy/ * * @package WordPress * @subpackage Tally * @since 1.0.0 */ ?>
Optimum stock is the key to manage inventory successfully. Overstocking will lead to blockage of cash and add up to certain risks such as price fluctuation, cost of managing excess stock, dead stock etc. This means that excessive stock may lead your business into losses.
Detecting the correct re-order level is extremely crucial. If an order is placed too soon, it would incur extra costs which include, warehousing rent, opportunity cost, etc. These costs are classified as “carrying costs” which also affects the overall financial health of your business. However, if the company places an order too late, it would result in stock-out costs, for example lost sales, etc
Some of the most crucial benefits apart of keeping your company’s finances steady which re-order levels of inventory reap are:
Maintaining a company’s financial health remains a top priority for any business owner and accurate management of inventory triggers that. Reordering of your stock without incurring any additional expenses could be a bit challenging but it certainly isn’t impossible. Especially with a software as flexible and reliable as Tally, you can ensure that you never run out of stock.
To simply put, TallyPrime accepts the quantities that you want to specify. In advanced mode, it considers the previous consumption patterns to suggest re-order levels. However, you can define your own reorder levels. You can also specify the minimum quantity of the item to be ordered, either in simple or in advanced mode. Keen to explore more about of stock? Take a free-trial right here!
Best Practices to Evaluate, Purchase and Implement Business Accounting Software