ARCHIVE.
What is EOQ and How To Calculate EOQ with Examples
EOQ stands for Economic Order Quantity. Economic Order Quantity is calculated by businesses to have a better understanding of what quantity of purchase will be the most cost-effective for them. Calculating EOQ requires a formula which we will get on later. This formula takes into account all costs attached to storing stocks purchased. This helps...
What Is ERP Software and How Does It Work?
ERP stands for Enterprise Resource Planning. ERP Software is used by businesses to generally streamline operations, smoothen communications, and help the management with better decision making. History of ERP The use of ERP systems has been running for many years. This was started when businesses expanded and turned into large scale industries, which caused them...
7 Business Industries that NEED ERP System in Pakistan
ERP System in Pakistan (Enterprise Resource Planning) are in use by Pakistani businesses for decades. The idea for ERP was generated when in the late ’90s when businesses globally were expanding and facing many issues with it. This was practised after the economic depression post-world war/Independence. The global economy was booming, computers were in, and...
Best ERP For Small Business – 2021 Success Guide
Every retail industry in the world relies heavily on small businesses. Hundreds of thousands of small stores can be found in every retail market, from underdeveloped African nations to developed and flourishing European nations! These small businesses are the forerunners of large corporations that will dominate the global market. With ERP for small business, the...
Choosing The #1 Right ERP Software Fit For Your Business
ERP Software has been a need for businesses for many years. Especially for large businesses, operating without ERP software is seen as a very risky move which very low chances of success. For large scale businesses, communication between hundreds of personnel and managing operations on such a vast scale is a very difficult task. The...
What Is Minimum Stock Level and How To Calculate It?
Inventory management is one of the most important decision making and operational activities that a business needs to be in control of. A business of any scale, large or small, will definitely cut its losses and increase profitability if inventory is managed efficiently. A good help for this for large businesses is to use an...
