Episodes

  • Top 10 Disadvantages of perpetual inventory system

    Top 10 Disadvantages of perpetual inventory system
    Aug 1 2022
    Online business-enhancing software programs are excellent. They make sure that several crucial business processes are streamlined, which includes inventory management. Any company that would deal with physical products of various types in their business module must have inventory systems of some kind. An inventory control technique called the perpetual inventory system updates products each time …. View detail https://blog.efex.asia/disadvantages-of-perpetual-inventory-system/
    Show more Show less
    2 mins
  • What Is The Difference Between Periodic And Perpetual Inventory Systems

    What Is The Difference Between Periodic And Perpetual Inventory Systems
    Aug 1 2022
    To estimate demand and avoid surplus stock, all companies must keep track of how much inventory they own. Therefore, every manufacturing company uses the inventory record system to maintain track of its inventory movements throughout the year. Inventory systems are classified into two types: periodic and perpetual. Each system has different advantages, so if you …. View detail https://blog.efex.asia/periodic-and-perpetual-inventory-system/
    Show more Show less
    3 mins
  • Journal Entry For Obsolete Inventory: Example and Calculation

    Journal Entry For Obsolete Inventory: Example and Calculation
    Aug 1 2022
    Companies selling tangible goods and those engaged in maintenance and repair both need to keep track of their obsolete inventory. The quantity of obsolete inventory that a company has can be a key sign of whether inventory management and purchasing are being optimized or whether they need to be reevaluated. At this point, journal entry …. View detail https://blog.efex.asia/journal-entry-for-obsolete-inventory/
    Show more Show less
    2 mins
  • How Can You Disposal Of Obsolete Inventory?

    How Can You Disposal Of Obsolete Inventory?
    Aug 1 2022
    It’s annoying to have extra or obsolete inventory. Once you have an excessive amount of unsold inventory, it takes up too much space and has to be protected from damage. In this case, selling as many inventories as you can is the best way to free up space. Use your creativity to make the products …. View detail https://blog.efex.asia/disposal-of-obsolete-inventory/
    Show more Show less
    2 mins
  • What Is Excess And Obsolete Inventory? Calculation and Analysis

    What Is Excess And Obsolete Inventory? Calculation and Analysis
    Aug 1 2022
    You may find a ton of businesses willing to buy your excess stock products if you search for “excess inventory” in almost any search engine. This will give you an immediate cash infusion and make more room in your warehouse. However, at what cost? The possibility of it being out of date is just one …. View detail https://blog.efex.asia/excess-and-obsolete-inventory/
    Show more Show less
    2 mins
  • Top 10 Advantages Of Perpetual Inventory System You Should Know

    Top 10 Advantages Of Perpetual Inventory System You Should Know
    Jul 27 2022
    Maintaining your retail inventory management in order ensures that your racks are filled, your warehouse spaces are not congested, your cash flow is consistent, and your vendors are satisfied. Without effective inventory control procedures, it is hard to run a profitable small firm. Despite this, nearly half of small enterprises do not manage inventories at …. View detail https://blog.efex.asia/advantage-of-perpetual-inventory-system/
    Show more Show less
    3 mins
  • What is Inventory Accuracy? Formula and Best Practices

    What is Inventory Accuracy? Formula and Best Practices
    Jul 27 2022
    Possibly the most crucial statistic for industrial processes is inventory accuracy. The business won’t be able to plan or predict, the supply chain will break down, expenses will increase, consumers will be dissatisfied, and the shop floor will have low productivity and efficiency. That’s a big impact from a straightforward measurement, whose significance is sometimes …. View detail https://blog.efex.asia/inventory-accuracy/
    Show more Show less
    2 mins
  • FIFO Perpetual Inventory Method: Formula And Example

    FIFO Perpetual Inventory Method: Formula And Example
    Jul 27 2022
    The FIFO perpetual cost flow tracking system assumes that the first unit of inventory obtained is the first unit used or sold. Furthermore, in a perpetual inventory system, inventory inflows and outflows are reflected in stock records as quickly as transactions take place. The resultant charge to the cost of goods sold is the same …. View detail https://blog.efex.asia/fifo-perpetual-inventory-method/
    Show more Show less
    3 mins