Allows buyers to select products from a supplier catalog, then purchase them without leaving their purchasing software.
With the right ERP, it’s easier than ever to track and use all of your data efficiently. All you need to do is set it up pro
A P-card combines the convenience of a company card with the accountability of more traditional purchasing methods
Discover how ControlHub integration can revolutionize credit card reconciliation for startups and mid-size companies.
Purchasing software for hardware-centric, procurement-heavy startups and mid-size companies.
Streamline your business supply chains with purchase order software.
Unlock the potential of your business with a comprehensive guide on understanding purchase requisitions and purchase orders.
Understanding Indirect Procurement: Differentiate between direct and indirect procurement strategies.
Direct materials are the resources used in the production process and are directly identified with that product.
Direct procurement involves purchasing raw materials that a business can’t run without. These materials are necessary for a company to perform its core activities. Most of the materials acquired using direct procurement are included in the final product.
Operations and supply chain management includes a broad area that covers manufacturing and service industries. In small businesses, there might be overlap between operations and supply chain management. But these are two different roles and processes.
It's important to be familiar with the Operating Cycle Formula since it can help you make sound business decisions regarding inventory and other operating expenses such as cash flow.
Simply put, they are goods manufactured and ready for sale. Depending on your level of manufacturing, these items may have undergone different levels of assembly
Direct materials are core to the production process, while indirect materials are ancillary to the production process. In other words, direct materials are essential to creating a product, while indirect materials provide the necessary support to the primary materials that go into an item’s production.
Excess inventory occurs when there is product available that has not sold but that exceeds the projected consumer demand for that product over a period of time. In some situations, this occurs due to a mismanagement of stock or poor decision making in relation to available inventory.
