Understanding Credit Card Processing Fees for Businesses

There are a lot of costs you should take on as a business owner. You should have adequate office space and facilities. If you have a product, you need an efficient inventory management system, for example. Then there are the costs you have to take on. Paying credit card processing fees is inevitable if you are running a business that …

An Outline of McDonald’s Wildly Successful Supply Chain Management

McDonald’s, a food industry giant, is reluctant to share its Special Sauce recipe. However, the fast food leader gladly shares its recipe for a successful supply chain, which is considered to be one of world’s best supply chains. Previously, we had discussed Amazon’s supply chain and Apple’s supply chain, but today we are going to discuss the secrets of successful …

How to Calculate Beginning & Ending Inventory Costs

The beginning inventory, or opening inventory, is the inventory value at the start of an accounting period (typically a year or a quarter). Accordingly, the ending inventory, or closing inventory, is the value of inventory at the end of the accounting period. These two figures are necessary to create an income statement of a company, and sometimes they even appear …

A Look at Apple’s Supply Chain Management

Over more than 40 years, Apple Inc. has evolved from a small, garage-based computer manufacturing firm into a technology giant and trendsetter. All of this happened thanks to people who stood behind the brand. Specifically, Tim Cook has made Apple a global leader in supply chain management. In this article, we will focus on the logic behind Apple’s supply chain …

How to Find Wholesale Distributors For Your Products

One of your key tasks as a business owner is looking for ways to sell your branded products. There are two common ways of doing this: selling directly to retailers and selling via wholesale distributors. Unfortunately, working directly with retailers may take quite a lot of time and energy. Therefore, finding wholesalers distributors is the most preferred way to sell …

How To Start An International Distribution Company

International distribution refers to entering international markets and new countries in order to sell products on a wholesale basis. It can be quite a challenging process because it requires a deep understanding of customs, taxes, terms and conditions in each country where you distribute your goods. The international distribution process typically involves the following activities: the physical handling of products …

A Look Into Walmart’s Magnificent Supply Chain Management

Over the past few decades, Walmart has evolved from a local shop into the world’s largest and most successful discount retailer with the fastest inventory turnover. A lot of this can be attributed to the corporation’s supply chain management, but first, here is a brief history of Walmart’s achievements: In 1962, the first Walmart store opens in Rogers, Arkansas. In …

Inventory Shrinkage & How To Account For It

Inventory shrinkage is one of the most common problems in accounting, which can severely impact both the profits and reputation of the business. What is inventory shrinkage? Inventory shrinkage is the loss of inventory items from a warehouse or store. You can detect the inventory shrinkage when the on-hand inventory records of a retailer report do not match the physical …

How Amazon’s Innovative Supply Chain Management Works

The efficiency and growth of the Amazon supply chain has made it an example to follow in the retail industry. Looking back now, it’s hard to believe that this giant e-commerce trendsetter started off as a small online bookstore. Amazon inventory management processes are impressive because the company is practicing a consumer-centric approach, while being able to get the most …

The 15 Essential Facts About 2D Barcodes

If you take a closer look at any modern barcode, you may notice that it contains not only stripes, but also rectangles, dots and hexagons. Most of the barcodes that we see in our everyday life are actually 2D barcodes. If you’re wondering what a 2D barcode is and how it differs from a 1D barcode, you’re in the right …