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Cost of Goods sold is also the determining factor in arriving at gross profit and is determined under the periodic method as follows:Sales--------------------------------- $100,000Cost of Goods Sold Inventory 01/01/03-- $ 5,000 Purchases------------ 45,000 Direct Labor--------- 30,000 _______ 80,000 Less: Inventory 12/31/03----- 10,000 _______ Net Cost of Goods Sold---------------- 70,000 ______Gross Profit on Sales------------------ $30,000
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Investing In Logistics And Wholesaling Management
By Jonathon Hardcastle
Logistics and Wholesaling Management are considered today of vital importance if one studies closely NAVISTAR and UPS, two well-established companies that have introduced logistics as their main business units.
The business principles support that the manufacturer makes the products, or provides the services, in order to attain the ultimate goal of satisfying its customers. In order to succeed every business activity is directly related with the principles of logistics that act as the "right hand" of a sound marketing plan. In fact logistics can be described by the following principles: finding the Right product or service; offering it in the adequate quantity and right condition to the right customer; having it available at the right time and place; and selling it at the right cost.
Today, logistics information systems that have been improved by the technology associated with the scanning systems are directly related with the transportation, storage, inventory management and customer service departments of every corporation. Strategies, such as Quick Response (QR) and Efficient Customer Response (ECR) are contributing in the success of logistics in the contemporary highly challenging environments business operate and are accompanied by competitive pricing, consumer demographics, market share goals and other factors of marketing management, providing the new base of global competition.
The key issue for an effective logistics system is for products to spend less time in the warehouses and to be delivered at the stores on time. This
USA Express Moving Launches New Customer Service Project
The company that used to be famous for appearing on the evening news is now changing its ways and putting its customers first. There has been a dramatic reduction in complaints in the past 6 months. (PRWeb Aug 28, 2008)
Read the full story at http://www.prweb.com/releases/2008/08/prweb1256514.htm ]]>
RFID Journal Announces RFID Journal LIVE! Middle East
TagStone will be the Cornerstone Sponsor for this first annual event, to be held Jan. 5-7, 2009, at the Intercontinental Hotel in Dubai. (PRWeb Aug 28, 2008)
Read the full story at http://www.prweb.com/releases/2008/08/prweb1245624.htm ]]>
way, manufacturers reduce the amount of inventory they have to keep and maintain and have thus realized that the component of logistics actually adds value. The notion of Just-In-Time strategies and Safety Stocks are still considered extremely important since these are the tools through which a sound logistics plan is supported.
In particular, the logistics department can become a company's value added feature as it manages procurement, reduces manufacture involvement, eliminates invoices and time-consuming practices, speeds communication via EDI and provides quality assurance. In simple words, a sound logistics system link better the supplier with the final customer and makes it feasible to conduct audit quality tests and improve the overall effectiveness of the system.
According to business experts a market opportunity is discovered when the order cycle is compressed, the time requirements are reduced and everyone is involved in the common objectives. Thus, logistics, by containing quality and quick response systems, are the key to introduce a successful management plan. Article Directory: http://www.articlecube.com Jonathon Hardcastle writes on many topics including Investing, Cosmetic Surgery, and Business
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USA Express Moving Launches New Customer Service Project
The company that used to be famous for appearing on the evening news is now changing its ways and putting its customers first. There has been a dramatic reduction in complaints in the past 6 months. (PRWeb Aug 28, 2008)
Read the full story at http://www.prweb.com/releases/2008/08/prweb1256514.htm ]]>
RFID Journal Announces RFID Journal LIVE! Middle East
TagStone will be the Cornerstone Sponsor for this first annual event, to be held Jan. 5-7, 2009, at the Intercontinental Hotel in Dubai. (PRWeb Aug 28, 2008)
Read the full story at http://www.prweb.com/releases/2008/08/prweb1245624.htm ]]>
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Varsity Logistics Announces Partnership With Able-one Systems
Varsity Logistics, Inc., the leader in multi-carrier shipping systems for the IBM iSeries, today announced their marketing partnership with Able-One Systems, Inc. Able-One is a leading Canadian IBM Read more...
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Heritage Partners To Acquire Package Services Division Of R.r. Donnelley Logistics
Boston, MA (ContentDesk via ContentDesk Direct) August 3, 2004 -- Heritage Partners, Inc., a leading private investment firm, today announced that it Read more...
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