What is the Cost of Goods Sold (COGS) & How to Calculate
Cost of Goods Sold (COGS) refers to the direct costs of producing the goods a company sells. In calculating COGS, include only direct costs like materials and labor and exclude all indirect costs. As an important metric in ascertaining gross profit, COGS tells the story of your company’s financial health. You must understand COGS’s relationship with your […]
What Does FIFO Stand for and How to Use it
FIFO, short for First In, First Out, is a powerful concept that plays a pivotal role in inventory management, logistics, and financial accounting. By mastering this principle, businesses can optimize their operations and maximize profits. This article will dive into inventory management, revealing how the FIFO method streamlines processes and reduces waste. As you uncover the […]
The Most Important Fulfillment Costs Explained
Order fulfillment is usually a deciding factor in the success or failure of your online business. When you provide customer orders on time, at an affordable shipping rate, and in good condition, you’re likely to attract repeat sales from the same person and even get a referral from that customer to their friend. However, if […]
Cross Docking Meaning, Types, Methods and Advantages
Are you struggling with skyrocketing inventory holding costs and shipping delays? Is it becoming a challenge to maintain timely deliveries? Is labour cost getting in the way of your cost-saving scheme? Or is your limited storage space impacting your efficiency? If it sounds like the story of your business, the solution is cross-docking! It is […]
China 3PL Companies: How to Find the Perfect Fulfillment Fit
Logistics is the backbone of success for your e-commerce business, ensuring speedy, cost-friendly, and efficient fulfillment of orders. China 3PL companies offer logistics services, freeing you to concentrate on other business areas. China is a major manufacturing hub with products in demand for quality and affordability. Suppose you source products for your e-commerce business from […]
Shipping from China to the UK: A Brief Guide.
Whether you’re shipping for a business or for personal matters, it’s a regular occurrence for people to buy from China as many suppliers are located there. Shipping from China to the UK has its own ins and outs and here, I will give you a brief guide on how to go about it. Due to […]
Third-Party Logistics (3PL) Guides: All You Need To Know To Scale Your E-commerce Business!
Are you planning to scale your e-commerce business, but all your time is spent managing inventory and putting out shipping contracts? Are you having difficulty with logistics and fulfillment of bulk orders? Is fast and efficient shipping getting in your way of becoming customers’ favorite? Third-party logistics (3PL) is for you! It manages your inventory […]
Distribution Center Decoded: Your Ultimate Ecommerce Guide
Distribution centers are the heart of any ecommerce business, responsible for receiving, storing, and shipping products to customers. This comprehensive guide provides an in-depth exploration of distribution centers, including how they work and the key functions involved in their operation. Whether you’re an experienced ecommerce professional or just starting out, this guide is a must-read […]
How to Ship from China to Australia: The Detailed Guide for Sellers
As a small business owner based in Australia, importing your products from China is often the best option compared to handling the manufacturing process yourself. However, one of the most neglected aspects of sourcing products from China is how to ship products from China to Australia. The last thing you want is for your goods […]
