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Finished Goods Inventory: Definition & Formula

Unleashed

Finished goods inventory are products that have been through the manufacturing process and are now ready for sale. Managing finished goods and tracking the costs associated with each of them are essential aspects of manufacturing accounting and stock control. What are finished goods inventory?

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Warehouse Automation Definition, Benefits and Issues

SCMDOJO

Warehouse automation is an increasingly popular way to maximize efficiency and accuracy in warehouse operations. It can streamline processes, reduce errors and costs, help manage inventory, and improve safety conditions for workers. You can identify these issues in detail by conducting a warehouse audit.

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Dancing in the Ring of Fire

Supply Chain Shaman

Each executive has a different perspective on the definition of supply chain excellence, but they are never discussed and aligned. As a result, demand planning is largely manual, inventory management is a series of manual inputs, and production planning is via spreadsheet. Anne is a lean disciple and sees all inventory as Muda.

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Inventory Carrying Cost: Formula, Definition & How to Calculate

Unleashed

Inventory carrying cost is an essential figure to understand. Without it, you’ll struggle to accurately measure profitability or make informed decisions around inventory management and cash flow. What is inventory carrying cost? Why is inventory carrying cost important?

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Supply Chain Resilience. Really?

Supply Chain Shaman

Today, I speak at the North American Manufacturing Association, Manufacturing Leadership Conference, in Nashville on the use of data to improve supply chain resilience. We are not clear on definition. So, if you use the Supply Chain Insights definition, you might ask, how are we doing commercially against this goal?

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10 Best Inventory Management Books

EMERGE App

Inventory management is a tough task, especially when you’re starting out. There are lots of inventory management books available which can help you understand basics, but I am here with the list of best books in the market. Best Inventory Management Books of All Time: 1.

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Control Towers: If Only There Was A Clear Definition

Supply Chain Shaman

What is an easy definition? There is no class of technologies, or common definition, for “control towers.” Contract manufacturing or 3PL data often will have a 24-hour latency due to batch integration. The next time that someone in a meeting mentions the term control tower ask for a definition. Business Use Cases.