Arun’s Insightful Explorations

All the above are inventory management methods that are used to manage the flow of goods and materials in a business. Here is a brief overview of each method:   1. First In, First Out (FIFO): In a FIFO system, the oldest inventory is sold or used first, and the most recently acquired inventory is sold or used last. This results in the cost of goods sold (COGS) reflecting the older, lower-cost inventory, while the ending inventory consists of the more recently acquired, higher-cost inventory. Advantages of using FIFO:  Increase accuracy. Tax advantage (in some countries).   Better inventory management. Improve financial reporting. Reduce risk of obsolescence. Some industry examples for using FIFO:   Retail industry, especially for products with stable prices such as clothing and home goods. Manufacturing industry, especially for products with consistent costs such as building materials and machinery parts.

Enterprise Resource Planning or ERP is a platform that a company uses to integrate all the core business operations required to run a company. Basically, core business operations involve finance, human resource, manufacturing, supply chain, procurement and other services. ERP helps to manage all these operations in an integrated system effectively that provides transparency into your complete business process by tracking all logistics, financials and production aspects. It also provides customizations for your specific industry. Without an ERP application, each department would have its system optimized for its specific tasks only but with an ERP software, each department still has its system, but all of the systems can be accessed through one application with one interface. How ERP works? Enterprise resource planning or ERP system is made up of integrated modules or business applications that communicate with each other and share a common database. Every ERP module typically focuse...

“Most of the important things in the world have been accomplished by people who have kept on trying when there seemed to be no hope at all.” ~ Dale Carnegie How to Win Friends and Influence People, published in 1947, became a best seller and is one of the most famous self-help books. Every day we communicate with different people - friends, family, partners, colleagues and strangers. Taking the time to learn some good social skills will go a long way in learning how to make friends and influence people. BENEFITS: 1. Get you out of a mental rut, gives you new thoughts, new visions, new ambitions. 2. Enable you to make friends quickly and easily. 3. Increase your popularity 4. Help you to win people by your way of thinking. 5. Increase your influence, your prestige, your ability to get things done. 6. Enable you to win new clients, new customers. 7. Increase your earning power. 8. Make you a better salesman, a better executive. 9. Help you to handle complaints, avoid argumen...

“Supply chains are everywhere. From the biggest company in the world to running your household. We all have supply chain experience even if we don’t know it.” W hat is Supply Chain? A Supply Chain is a connected network of individuals, organizations, resources activities and technologies involved in the manufacturing and sale of a product or service. A supply chain starts with the delivery of raw materials from a supplier to a manufacturer and ends with the delivery of the finished product or service to the end consumer. Companies develop supply chains so they can reduce their costs and remain competitive in the business landscape. What is Supply Chain Management or SCM? Supply Chain Management is the management of the flow of goods and services and includes all processes that transform raw materials into final products. It involves the active streamlining of a business's supply side activities to maximize customer value and gain a competitive advantage in the marketplace.   ...

“Everything is created twice, first in the mind and then in reality.” ~ Robin Sharma, The Monk Who Sold His Ferrari Characters in the Book: Julian Mantle, a 56-year-old successful lawyer is the main character in the book. John is another main character who is Julian’s friend and was working as his intern before. Yogi Raman is the leader of the Sages of Sivana whom Julian met on his spiritual journey towards mystic India. Yogi Krishnan shows the direction for Julian’s spiritual journey towards Sivana. The book will explain to you “the meaning of your life, the purpose of our life”. This is the story of a guy named Julian who was a very successful lawyer. He was famous, rich and he fought only cases to protect some truly wealthy people. He owned a large mansion, a private jet and of course a Ferrari. But even after achieving these huge things in his life, he was not satisfied. He wanted more fame, more money which led him to a point where he was working for almost 18 hours a day. As a...

“Social media is not a media. The key is to listen, engage, and build relationships.” ~ David Alston What is Ecommerce Social Media Marketing? Ecommerce Social media marketing is a form of internet marketing with the use of social media platforms to connect with your audience to build your brand, increase sales and website traffics by creating and sharing content on social media networks in order to achieve your marketing and branding goals. Using Ecommerce social media, the ecommerce store marketing can be done. Ecommerce stores can use social media to build brand awareness, attract online followers and generate online sales. Companies can also use social media to get their brand, profile and products shared online. The major process involves creating and publishing great contents on various social media profiles, engaging to your followers, results analysis and social media advertisement campaigns. This also includes activities like posting text, image updates, videos and contents th...