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Raw Materials – A detailed guide

The flow of content: Raw materials definition Types of raw materials Importance of raw materials Raw materials formula Every other product we use has been produced by using some or the other raw materials. It is the most crucial component of inventory for any manufacturing unit and therefore, managing inventory of  raw materials becomes crucial […]

The Beginners Guide to RFID – Basics of RFID Technology

The flow of content: What is RFID History of RFID How does RFID work and What are RFID Tags? What are the Types of RFID Tags? What are the Types of RFID? Comparison between RFID and Barcode Technology Advantages of RFID Technology Conclusion References   What is RFID Radio Frequency IDentification is commonly known as […]

What is the reorder point and why is it important?

 The flow of content: Introduction What is reorder point How to calculate the reorder point using formula Conclusion Stock replenishment is an important activity for all retailers. However, there are several things that retailers need to keep in mind while re-stocking their inventory and in this process, calculating the reorder point plays a very important […]