Cycle Inventory – Meaning, Importance and How to Calculate
Cycle Inventory or Cycle stock or working stock or lot size stock is an essential part of the total inventory. It is that part… Read Article
Economic Order Quantity (EOQ)
Economic Order Quantity and Economic Production Quantity
What is EOQ & EPQ?Economic Order Quantity (EOQ) and Economic Production Quantity (EPQ) both are widely and successfully used models of inventory management. Economic… Read Article
Economic Order Quantity(EOQ)
What is Economic Order Quantity (EOQ)?Economic Order Quantity is the optimum quantity of an item that should be ordered at a point in time.… Read Article
Takt time vs Cycle time – Differences, Relation and More
Several business concepts help a company to optimize its operations. Two such concepts are takt time and cycle time. However, people often use both… Read Article
Lead Time and Cycle Time – Differences, Relationship, and More
Lead Time and Cycle Time are important time measurement metrics that help management to gauge the efficiency of its operations. Moreover, it also helps… Read Article
Holding cost vs Ordering cost – All You Need To Know
Most businesses overlook their real inventory cost. In reality, the inventory price is more than its purchase price. It is because it includes the… Read Article
Lead Time – Meaning, Importance, How to Improve, and More
MeaningLead time is an essential concept for a manufacturing organization. It is the amount of time between the start and completion of a process… Read Article
Safety Stock – Meaning, Importance, Formula, and Example
Safety Stock: MeaningSafety stock is the extra quantity of a product that a company keeps in inventory to lower the risk of running out… Read Article
Carrying Cost: Why You Shouldn't Avoid It?
What is Carrying Cost?A carrying cost is a cost a business incurs for “carrying” or storing inventory. Any business is required to maintain a… Read Article
Perpetual Inventory System – Meaning, Advantages And More
Perpetual Inventory System is a method in accounting for calculating inventory immediately after the sale and purchase with the use of computerized point-of-sale systems… Read Article
Inventory Management Techniques
Meaning of Inventory ManagementInventory Management techniques help in tracking and controlling the inventory orders, their usage, and storage, along with the management of finished… Read Article