What is Inventory Accounting?
What is Inventory Accounting? Inventory Accounting tracks and values a company’s inventory throughout the production process, impacting financial health. It defines inventory in accounting as assets recorded during production, ensuring accurate logistics and financial management for reporting and tax purposes. How does Inventory Accounting work? Inventory accounting works by categorising and valuing inventory, such as […]
Supply Chain Procurement Strategies
Introduction of Supply Chain Management: Supply Chain Management (SCM) thus refers to the management of tangible goods and services from the point of production, through distribution to the customer. Sourcing involves all the processes in sourcing raw materials until the final product is delivered to the customer at the lowest cost and time possible. SCM […]
What is Freight Forwarding?
Freight forwarding is the overall process that involves the systematic arrangement and shipment of goods from place to place on behalf of a customer/shipper. It manages the entire logistics process, including transportation, documentation, and customs clearance. Understanding the Role of Freight Forwarding: The core responsibility of freight forwarding is establishing an arrangement with companies, importers, […]
