Inventory is a key part of profit and revenue. Whether it involves raw materials or retail products, managing inventory is essential to monitor the whereabouts of the goods. Inventory is a company’s current asset that makes good business operations possible. It is performed to keep your business afloat and continue to grow. However, it is not as smooth as it…
Category: Inventory Management
Purchase Order: Keeping your Company Together
In handling every stage of a purchase transaction, there are many applications we can use. There are plenty of ever-evolving trends we always want to get caught up. We all have such gut to be in the trendiest development that we often forget the most important thing in the procurement realm – purchase orders. Email threads and verbal commitments are…
Sales Return: Why does it Exist and How to Prevent it?
When customers return the products they buy, a company would accept it. It’s their right. They have the right to return the goods they are not satisfied. Sales return is a normal part of a business. It has always been a good practice most merchants used to provide customer satisfaction. There are different customers. The cause for product return may…
What No One Tells you about Repeat Business and New Customers
Have you ever stopped to think about how you can improve your business? What technique do you use – acquiring new customers or repeat business? While the acquisition of new customers is important, it is hard to win them back if they go away. On the other hand, keeping existing shoppers is great but it is not easy to build…
How do Loyalty Points and Rewards Benefit Customers
Customers are hard to find. It is true even for old businesses. Companies have to use different techniques to keep customers coming back. Offering loyalty programs is one of them. If you have buyers that are loyal to certain brands that they love purchasing over and over again, your company has put a loyalty program into operation already. Implementing loyalty…
Managing Inventory Transfer and Balancing in Multiple Warehouses
Inventory management is all about managing items that your business holds – stocks. Your stocks are the items you sell. An effective inventory management ensures that those stocks are at the right place and price. Moving items from one warehouse to another is completely different. Managing inventory transfer and making everything balance is probably the most complex side of inventory…
Physical Inventory: The Easier Way to Carry Out
To figure out your profits, you need to perform a physical inventory. Performing physical inventories can help prevent shrinkage. Production and purchasing can also be easily managed. Doing physical counts is critical for the success of any retail industry. However, this is probably not included in your favorite list as it takes hours to count store merchandise. Some merchants may…
How to Manage Customers in WooCommerce
In making a successful business, developing a strong customer management strategy is the most essential factor to start with. One reason is that it is the foundation of how you run your industry. It is also the basis of what you do as a company. When managing customers is left undone, it is difficult to increase sales. WooCommerce is a…