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Your Expert Guide to Inventory Audits: Best Practices & Tips 

ShipBob

Table of Contents ** Minutes What is an inventory audit? When it comes to selling goods, ecommerce businesses may audit their inventory — whether it’s for tax purposes annually or to simply verify units on hand. Inventory audits can be done in-house or by a third party and represent one point in time. What is an inventory audit?

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The Hidden Costs of Ghost Inventory: What You Need to Know

ShipBob

These physically unaccounted-for units of inventory called ghost inventory, or phantom inventory , are a more common challenge faced by retailers than you think. Often, the items accounted for in the asset register do not reconcile with what is in the inventory. What is ghost inventory?

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Why Small Businesses Should Consider Using Freight Forwarders

20Cube Logistics

Shipping is a concern for nearly all of them. However, many SMBs and SMEs assume that working with a freight forwarder in Australia is reserved for large, international corporations. As one of the leading digital freight forwarders in Australia, 20Cube Logistics, provides tailored 3PL services for SMBs. What is 3PL?

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The Backorder: May 15, 2024

Unleashed

Mini quiz: How well do you know inventory accounting? What is the formula for calculating inventory turnover ? a) Cost of Goods Sold divided by Opening Inventory b) Cost of Goods Sold divided by Average Inventory c) Cost of Goods Sold divided by Ending Inventory d) Cost of Goods Sold divided by Net Purchases 2.

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How Technology Can Help Small & Medium-Sized Businesses (SMBs) In The Supply Chain World

Turvo

Once the items ordered are ready, the supplier contacts a shipping company to move the products. But when it comes to small and medium-sized businesses, they don’t really handle inventory on the same scale as the big players. A tailored 3PL solution that includes all the touchpoints mentioned here is probably the answer.

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Top 12 New Logistics Startup Companies Making Noise

ShipBob

This sequence of events involves many moving parts, including purchasing, packaging, shipping, and transporting materials to distributors to sell to the end customer. Inventory management. expecting same day delivery, two-day shipping, etc.) Inventory Planner. Warehousing and storage. Freight forwarding. Demand planning.

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Here’s Why Supply Chain Convergence is the Future of Ecommerce

ShipBob

It’s a form of supply chain digitization that ensures every element, from sourcing raw material inventory to product delivery, is coordinated and managed through a centralized platform. The need for more SKUs increases complexities in sourcing, procurement, inventory management, package tracking — the list goes on.