The Complete Guide to Economic Order Quantity for 2023
When a business buys and maintains inventory, it is crucial for them to place orders in amounts that best fit its needs and that’s where Economic Order Quantity (EOQ) plays a key role. Consider two scenarios here. And EOQ (Economic Order Quantity) helps find that…
How to mix inventory management techniques for multi-channel expansion
The latest cool kid on the retail block is multi-channel selling. From multinational retail giants to fast-growing ecommerce start-ups, many are finding ways to use different stores to take their business to the next level. And it’s easy to understand why. Whether you sell...
Amazon Business – What You Need to Know
What is Amazon Business? What if I told you that Amazon had a somewhat unknown business-to-business marketplace that offered exclusive pricing for small and enterprise-sized businesses? Well, to the shock of many, that is exactly the case when it comes to Amazon’s new venture, Amazon...
What is a Backorder? Meaning, Causes, And Prevention
Backorders are customer orders that are not fulfilled due to inventory shortages. Generally, a backorder is the group or list of unfulfilled orders until the company is prepared to deliver them. This means someone can order an item but will receive it at a future...