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Explore Universe Services is the largest third-party logistics (3PL) company in India. We provide in

15/04/2021

𝐂𝐎𝐒𝐓 𝐎𝐅 𝐆𝐎𝐎𝐃𝐒 𝐒𝐎𝐋𝐃 (𝐂𝐎𝐆𝐒)

Cost of goods sold (COGS) refers to the direct costs of producing the goods sold by a company. This amount includes the cost of the materials and labour directly used to create the good. It includes indirect expenses, such as distribution costs and sales force costs.

The cost of goods sold is also referred to as the "cost of sales."

𝟏. Cost of goods sold (COGS) includes all of the costs and expenses directly related to the production of goods.

𝟐. COGS excludes indirect costs such as overhead and sales & marketing.

𝟑. COGS is deducted from revenues (sales) in order to calculate gross profit and gross margin. Higher COSG results in lower margins.

𝟒. The value of COGS will change depending on the accounting standards used in the calculation.

15/04/2021

𝐈𝐍𝐕𝐄𝐍𝐓𝐎𝐑𝐘 𝐓𝐔𝐑𝐍𝐎𝐕𝐄𝐑 𝐑𝐀𝐓𝐈𝐎

Inventory turnover is a financial ratio showing how many times a company has sold and replaced inventory during a given period. A company can then divide the days in the period by the inventory turnover formula to calculate the days it takes to sell the inventory on hand.

Calculating inventory turnover can help businesses make better decisions on pricing, manufacturing, marketing, and purchasing new inventory.

15/04/2021

𝐈𝐍𝐕𝐄𝐍𝐓𝐎𝐑𝐘 𝐕𝐀𝐋𝐔𝐀𝐓𝐈𝐎𝐍

Inventory valuation is an accounting practice that is followed by companies to find out the value of unsold inventory stock when companies follow preparing their financial statements. Inventory stock is an asset for an organization, and to record it in the balance sheet, it needs to have a financial value. This value can help you determine your inventory turnover ratio, which will help you plan your purchasing decisions.

To give you an example, if you run a shoe business and you’re left with 50 pairs of shoes at the end of the year, then you need to calculate their financial value and record it in your balance sheet. Let’s look at how and why you’ll calculate the value.

15/04/2021

𝐈𝐍𝐕𝐄𝐍𝐓𝐎𝐑𝐘 𝐑𝐄𝐏𝐎𝐑𝐓

An inventory report is a summary of the amount of inventory a business has on hand at a given time.
The inventory report is a physical or electronic document with numbers representing the product you're able to sell now, the inventory you are ordering, or the inventory you need for internal business use.

Good inventory reports contain up-to-date information with a high level of detail and use visual to make it clear how many of a given item you have in stock. Inventory reports help you avoid over-ordering inventory or running out of inventory when customers buy your products online.

15/04/2021

𝐖𝐡𝐚𝐭 𝐢𝐬 𝐈𝐧𝐯𝐞𝐧𝐭𝐨𝐫𝐲 𝐏𝐥𝐚𝐧𝐧𝐢𝐧𝐠?

Inventory planning refers to the process that any organization adopts to determine the optimal quantity as well as timing, with the sole aim of aligning such plans with the organization’s capacity to produce and make sales.

Inventory planning usually affects the company in numerous ways. For example, it directly determines the cash flow of any organization and its profits margins with reference to those that have an over-reliance on fast turnovers of materials and goods. Evidently, inventory planning is an important aspect of any business’s success.

𝙂𝙤𝙤𝙙 𝙞𝙣𝙫𝙚𝙣𝙩𝙤𝙧𝙮 𝙥𝙡𝙖𝙣𝙣𝙞𝙣𝙜 𝙨𝙪𝙥𝙥𝙤𝙧𝙩𝙨 𝙨𝙚𝙫𝙚𝙧𝙖𝙡 𝙫𝙞𝙩𝙖𝙡 𝙗𝙪𝙨𝙞𝙣𝙚𝙨𝙨 𝙤𝙗𝙟𝙚𝙘𝙩𝙞𝙫𝙚𝙨 𝙞𝙣𝙘𝙡𝙪𝙙𝙞𝙣𝙜:-

𝟷. Customer service and satisfaction

𝟸. Supply chain efficiency

𝟹. Control of costs

𝟺. Accurate sales and demand forecasting

15/04/2021

𝐕𝐄𝐍𝐃𝐎𝐑 𝐌𝐀𝐍𝐀𝐆𝐄𝐌𝐄𝐍𝐓

The businesses and individuals that provide goods and services to an organization are considered its vendors. A company could work with a few, dozens, or even hundreds of different vendors, all with different contract terms, pay rates, and points of contact that must be managed through a vendor manager.

The term vendor management is used when describing the activities included in researching and sourcing vendors, obtaining quotes with pricing, capabilities, turnaround times, and quality of work, negotiating contracts, managing relationships, assigning jobs, evaluating performance, and ensuring payments are made. It requires a lot of skills, resources, and time.

15/04/2021

𝐒𝐔𝐏𝐏𝐋𝐘 𝐂𝐇𝐀𝐈𝐍 𝐏𝐋𝐀𝐍𝐍𝐈𝐍𝐆 - 𝐒𝐂𝐏

Supply chain planning is the process of planning a product from raw material to the consumer. It includes supply chain planning, production planning, demand planning and sales and operations planning.

1. 𝙎𝙪𝙥𝙥𝙡𝙮 𝙋𝙡𝙖𝙣𝙣𝙞𝙣𝙜 determines how best to fulfill the requirements created from the demand plan. The objective is to balance supply and demand in a manner that achieves the financial and service objectives of the enterprise.

2. 𝙋𝙧𝙤𝙙𝙪𝙘𝙩𝙞𝙤𝙣 𝙋𝙡𝙖𝙣𝙣𝙞𝙣𝙜 addresses the production and manufacturing modules within a company. It considers the resource allocation of employees, materials, and production capacity.

3. 𝘿𝙚𝙢𝙖𝙣𝙙 𝙋𝙡𝙖𝙣𝙣𝙞𝙣𝙜 is the process of forecasting demand to make sure products can be reliably delivered. Effective demand planning can improve the accuracy of revenue forecasts, align inventory levels with peaks and troughs in demand, and enhance profitability for a particular channel or product.

4. 𝙎𝙖𝙡𝙚𝙨 𝙖𝙣𝙙 𝙊𝙥𝙚𝙧𝙖𝙩𝙞𝙤𝙣𝙨 𝙋𝙡𝙖𝙣𝙣𝙞𝙣𝙜 (𝙎&𝙊𝙋) is a monthly integrated business management process that empowers leaders to focus on key supply chain drivers, including sales, marketing, demand management, production, inventory management, and new product introduction.

14/04/2021

𝐒𝐔𝐏𝐏𝐋𝐈𝐄𝐑𝐒 𝐌𝐀𝐍𝐀𝐆𝐄𝐌𝐄𝐍𝐓

Suppliers are independent legal entities that exist outside the boundaries of obe's own organization. Suppliers are organizations that sell goods and services another organization uses to support its own goods and services. Supplier management is the process that ensures that value is received for the money that an organization spends with its suppliers.

14/04/2021

𝐒𝐔𝐏𝐏𝐋𝐘 𝐂𝐇𝐀𝐈𝐍 𝐈𝐍𝐓𝐄𝐆𝐑𝐀𝐓𝐈𝐎𝐍

Supply chain integration is a process where all the parties involved with the fulfillment of a product are integrated into a single system. This requires significant coordination and alignment in order to ensure everyone is effectively working toward the same goal at all times.

Having the parts required for a product show up where they are needed, when they are needed, helps to not only prevent delays in the manufacturing process, but also eliminates a lot of wasted time, storage space, and more. When done properly, supply chain integration will bring parties that are often at odds together with a single focus.

14/04/2021

𝐒𝐭𝐫𝐚𝐭𝐞𝐠𝐢𝐜 𝐍𝐞𝐭𝐰𝐨𝐫𝐤 𝐃𝐞𝐬𝐢𝐠𝐧

SCP software helps define the appropriate supply, warehousing, and distribution infrastructure, produce distribution strategies, inventory planning, outsourcing operations, and much more.

Strategic Network Design is a project with a quantitative supply chain model to align the supply chain infrastructure (production-distribution network or supply-delivery network) with customer requirements and the business strategy, and optimize the infrastructure based on Total Cost to Serve.

14/04/2021

𝙒𝙝𝙖𝙩 𝙞𝙨 𝘾𝙪𝙨𝙩𝙤𝙢𝙚𝙧 𝙎𝙚𝙜𝙢𝙚𝙣𝙩𝙖𝙩𝙞𝙤𝙣?

Customer segmentation is the practice of dividing a company’s customers into groups that reflect similarity among customers in each group. The goal of segmenting customers is to decide how to relate to customers in each segment in order to maximize the value of each customer to the business.

𝙒𝙝𝙖𝙩 𝙞𝙨 𝙥𝙧𝙞𝙘𝙚 𝙨𝙚𝙜𝙢𝙚𝙣𝙩𝙖𝙩𝙞𝙤𝙣?

Imagine you have a product priced at $10.

Some potential customers may see this price as too high and never convert. Other potential customers may be willing to pay $15. If you only set the $10 price, you lose $10 from the people who won’t buy, but at the same time lose $5 from the people who would have paid more, for a total loss of $15.

But if you have three prices—$5, $10, and $15—you get the $15 from the higher price segment, plus the $5 from the lower price segment, and you end up with a total of $20.

At first glance, it may seem there’s no way this can work. But think about the airline industry.

14/04/2021

𝐏𝐑𝐎𝐃𝐔𝐂𝐓𝐈𝐎𝐍-𝐃𝐈𝐒𝐓𝐑𝐈𝐁𝐔𝐓𝐈𝐎𝐍 𝐏𝐋𝐀𝐍𝐍𝐈𝐍𝐆

Production-distribution planning is the most important part of supply chain management. To solve this integrated planning problem, either an analytic or simulation approach has been developed. However, these two approaches have their own demerits in problem-solving. In this paper, a hybrid approach is proposed which is a specific problem-solving procedure that combines Experimental results of the hybrid approach for the developed system show that more realistic solutions with respect to the analytic model reflecting the stochastic nature of real systems are quite different from the initial analytic solutions.

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