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Software Functionality Revealed in Detail
We’ve opened the hood on every major category of enterprise software. Learn about thousands of features and functions, and how enterprise software really works.
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 excess inventory how to handle in accounting


Is There a Smarter Way to Handle Excess Active and Obsolete Inventory?
Imagine the convenience of a 24x7 intranet marketplace where companies could sell off their inventory to the highest bidder. FreeFlow is one such business

excess inventory how to handle in accounting  products, the problem of excess inventory is seldom a priority. Companies often resort to high-overhead marketing promotions, rebates, or complete inventory write-offs to unload their excess inventory. Let the (Excess) Inventory Flow! Rather than falling back on these detrimental practices under duress, many have wondered whether there might be better, more deliberate ways of dealing with the conundrum of excess inventory instead of customarily writing it off against financial reserves, which directly

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Software Functionality Revealed in Detail

We’ve opened the hood on every major category of enterprise software. Learn about thousands of features and functions, and how enterprise software really works.

Get free sample report
Compare Software Solutions

Visit the TEC store to compare leading software by functionality, so that you can make accurate and informed software purchasing decisions.

Compare Now

Discrete Manufacturing (ERP)

The simplified definition of enterprise resource planning (ERP) software is a set of applications that automate finance and human resources departments and help manufacturers handle jobs such as order processing and production scheduling. ERP began as a term used to describe a sophisticated and integrated software system used for manufacturing. In its simplest sense, ERP systems create interactive environments designed to help companies manage and analyze the business processes associated with manufacturing goods, such as inventory control, order taking, accounting, and much more. Although this basic definition still holds true for ERP systems, today its definition is expanding. Today’s leading ERP systems group all traditional company management functions (finance, sales, manufacturing, and human resources). Many systems include, with varying degrees of acceptance and skill, solutions that were formerly considered peripheral such as product data management (PDM), warehouse management, manufacturing execution system (MES), and reporting. During the last few years the functional perimeter of ERP systems began an expansion into its adjacent markets, such as supply chain management (SCM), customer relationship management (CRM), business intelligence/data warehousing, and e-business, the focus of this knowledge base is mainly on the traditional ERP realms of finance, materials planning, and human resources. The foundation of any ERP implementation must be a proper exercise of aligning customers'' IT technology with their business strategies, and subsequent software selection. 

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Documents related to » excess inventory how to handle in accounting

How to Choose a Manufacturing System


If you’ve worked for more than one manufacturing company, you know that each one is different. Different processes, systems, problems—all these variations mean you need a system tailored to your needs. And with so many available solutions, you could spend months looking at demos, and still not find it. However, you can start by asking yourself eight simple questions.

excess inventory how to handle in accounting  yourself or to offload excess work to an expert. Plan on 100 hours or more, with rates ranging from $90 to $180 per hour. A Tale of Two Consultants Let's take the case of a company that installed a new system one year ago. They weren't very organized and they had lots of problems. They were busy, so they didn't allocate enough time to do research before they chose a product. They ended up choosing the first package they evaluated. It was a relatively inexpensive software package and the consultant Read More

Using Inventory Optimization to Reduce Inventory Levels in a Lean Environment


Small and medium businesses (SMB) need to address inventory challenges by using a tightly integrated approach that reflects the dynamics of the extended supply chain. Data must also be available to other application modules within the enterprise resource planning (ERP) system. An inventory optimization solution allows companies to effectively fulfill demand and identify how to gain additional profits from their inventories.

excess inventory how to handle in accounting  movers Identifying and managing excess stock to improve cash fl ow and decrease holding costs Identifying and controlling the reduction of dead inventory Improving forecast accuracy for better planning Calculating safety stock appropriate to risk/service required Makes the company more effi cient Increasing automated ordering usage facilitates customer service and effi ciency Increasing inventory turns to improve profitability Allowing fewer expedites will keep costs in check Identifying service risk Read More

Response Management: Rapid Response to Change Drives Improved Operating Performance


Increasingly, success depends not only on how fast manufacturers can act, but how fast they can react—and the effectiveness of the actions they take. But fast and effective reactions depend on having the information you need when you need it. Is your response management strategy efficient enough? Do you have enough control over key supply chain processes? Find out how to better manage your response to volatile markets.

excess inventory how to handle in accounting  than $80 million in excess and obsolete material while realizing one of the highest inventory turn rates in the industry. Delivery performance has significantly improved, and the company now responds to customer questions the same day. These and other benefits have increased Jabil s market share and given the company a valuable competitive advantage. Customers used to be happy with a response in a week, but now they want it in a day, Stappert says. RapidResponse integrates with our existing systems to Read More

19 Steps to Maintain an Accurate Inventory What You Must Know About Your Inventory


It takes $2,500 in new sales to make up $100 in lost inventory, assuming a 4 percent return. Keeping an orderly warehouse with up-to-date processes and informed pickers and receivers to stop loss and identify and solve problems faster.

excess inventory how to handle in accounting  several hundred years ago excess inventory meant a businessperson was wealthy. Today, excess inventory shows the inability to understand how to run a business or an organization. Customers today will only pay for a high level of service, and are refusing to accept the excuse that the warehouse is the problem or the system is always wrong. You need to to get a handle on your inventory. Some Tips and Tricks for the Physical Use post-it notes. Have counters write problems on the post-it and affix it to the Read More

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Provision Fund Accounting


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Accounting Seed


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From Accounting to ERP: A Road Map for Growing Small Businesses


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How to Use Projects to Master Asset Management


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