Leadership and Management Excellence Blog

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logistics supply chain management what it is and why you need to know 1645521231 6572

Logistics & Supply Chain Management- What It Is and Why You Need To Know

Logistics & supply chain management is vital to the success of any business. They can be used in the production phase, or in the distribution phase, like when a retailer has to ship out their order.
best warehouse management software of 2022 which program is right for you 1645005126 6910

Why Do You Need The Best Warehouse Management Software In 2022?

Warehouse management software helps you organize your inventory, track what's in stock, manage your orders, and close out transactions. Here are the top warehouse management software programs in 2022.
procurement and supply chain management the perfect joint at the perfect time 1645191797 8166

Procurement and Supply Chain Management- The Perfect Joint at the Perfect Time

Procurement and supply chain management is essential for the success of any organization. It's a complex process that involves buying, receiving, storing, and distributing goods from suppliers.
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5 Supply Chain Management Skills Every Manager Should Know

It is important for organizations to have the skills and knowledge necessary to run a successful supply chain. Here, are five supply chain management skills every manager should be aware of.
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Purchase Order Vs. Invoice

Whether you're a business owner or an employee, it's important to know the difference between purchase orders and invoices. A purchase order vs. invoice is a hot topic.
purchase order vs invoice whats the difference and why 1643086271 7202

Purchase Order Vs. Invoice- What's the Difference and Why

In business, the purchase order and invoice are two different ways to record a sale or billing transaction. purchase order vs. invoice what is a purchase order, there are purchase orders everywhere
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Purchase Order Vs. Invoice

When you purchase an item, the vendor is given a purchase order. When you provide an invoice for the same item, it is given to the customer. Purchase order vs. invoice.
what is a good inventory ratio

What is a Good Inventory Ratio?

Maintaining an appropriate level of inventory cannot be neglected, which is why you need to have a complete understanding of your restaurant inventory turnover rate. We'll break that down here.
restaurant inventory management tips to increase profits

Restaurant Inventory Management Tips to Increase Profits

You can minimize your food waste and save money by managing your food inventory successfully, which will prove to be more practical and rewarding. Here are some of the ways to do that.
the importance of inventory management for small businesses

The Importance of Inventory Management for Small Businesses

Here is an overview of the basic management techniques that will effectively make the best use of your in-house and replenished inventory. We will also take a look at what you should look for in inventory management software.
why inventory tracking is critical to small business

Why Inventory Tracking is Critical to Small Business

A small business, like a bakery or a coffee shop, typically does not have an expendable budget like that of larger corporations and franchises. Here is how inventory tracking can help your small business succeed and avoid wasted costs.
why you absolutely need to know your business inventory turnover ratio

Why You Absolutely Need to Know Your Business Inventory Turnover Ratio

A commonality for many businesses in the food industry is failing to implement a surefire inventory management system. Because inventory details directly relate to profit, it is absolutely vital that you know your business inventory turnover ratio.
inventory turnover ratio what it means to your business

Inventory Turnover Ratio & What it Means to Your Business

Inventory management is crucial to running any business but it's even more important when running a restaurant, as the inventory turnover ratio indicates important stats in a specified time period. Let's delve into how to determine that ratio.
how to figure out your inventory par levels

How to Figure Out Your Inventory Par Levels

Your food costs and restaurant's inventory Par Levels are directly dependent on each other. Monitoring your inventory and its Par Levels is the key to a successful and profitable restaurant. Here is how you can determine and track them.
5 features of the best inventory management software

5 Features of the Best Inventory Management Software

In order to find the best available software, you need to know which features to look for when shopping around. Here are the key features that will greatly help every restaurant improve inventory management processes.
calculating inventory turnover ratio for your restaurant

Calculating Inventory Turnover Ratio for Your Restaurant

There are a few methods that can be utilized to calculate inventory turnover ratio, which can involve different variables. This article will teach how inventory turnover ratio can be calculated by using the cost of goods sold and average inventory.
5 tips for effective restaurant inventory management

5 Tips for Effective Restaurant Inventory Management

To be an effective manager, you must utilize an inventory management system that will help you track every item in your restaurant. The following are the tips that can help you with inventory management in your restaurant.
how to upgrade your inventory turnover ratio practices

How to Upgrade Your Inventory Turnover Ratio Practices

In the restaurant business, managing your inventory both effectively and efficiently is crucial to building a successful brand. Understanding your inventory data and operations will help you to reduce inefficiency and maximize your profits.
how to increase profits with inventory turnover ratio calculations

How to Increase Profits with Inventory Turnover Ratio Calculations

Cutting down on costs is a great way of increasing your profit margins. This article will help you understand how accurate inventory calculations can allow you to manage your budget and why you need an inventory turnover ratio calculation software.
what inventory turnover ratio is how restaurants can get it right

What Inventory Turnover Ratio Is & How Restaurants Can Get It Right

It's crucial to find a balance that's right for your business and create a financially sound plan, ensuring longterm success. Tracking your inventory is an integral part of that equation, which is why an inventory turnover calculator is a necessity.