Insights and Updates: Explore the Latest Trends, Tips.

It is extremely important for any business to hold sufficient inventory to be able to fulfil customer demands, and bring in revenues; in fact, a business must have adequate inventory to meet the projected demand and have a buffer of extra stock so that unforeseen problems like delayed deliveries by vendors or sudden demand surges […]

The supply chain in modern business is of prime importance for a variety of reasons. For businesses to succeed, they need their supply chain to be agile, quick, and productive. One of the strategies that can be implemented by organizations to gain a competitive edge, is cross docking. If followed correctly and in the correct […]

Inventory management is a complex but crucial component of running a successful business. It is essential to know how much inventory you have on hand, and how much you need to order so that production or sale is not interrupted. You should always have the right amount of inventory – too much could mean more […]

What is Stock Taking? Stocktaking is simply the counting of every single product you sell and categorizing them item-wise. For example, a textile manufacturer or trader will categorize products something like this: shirts, jeans, t-shirts, dresses, children’s clothing, etc. Once the counting is done, the usual procedure is to verify the count by comparing it […]

Online shopping was anyway becoming popular with people when along came the pandemic and the associated restrictions, making it not just convenient, but also necessary. Anyone with an internet connection has shopped online at least once. Whenever you purchase something online, the customer gets an email from the seller confirming your order, as well as […]

What is Batch Tracking Batch tracking is in simple words, a traceability system. It enables you to group together a set of inventory items that share similar properties in a batch. Batch tracking offers better visibility and makes it possible to track the expiry date of products and trace defective units back to the specific […]

When competition keeps becoming steeper by the day, companies have to come up with innovative methods to increase sales and bring in revenue. Offering their products through multiple methods and channels, in addition to the conventional in-store sales helps companies to reach out to a greater number of customers. One such method, though not exactly […]

In certain types of businesses, it is important to track individual costs related to specific tasks or jobs – and this is referred to as job costing. What Is Job Costing? Also named project-based accounting, job costing refers to the accounting of expenses and income for every individual project. It studies every project minutely and […]

The terms human capital management (HCM) and human resource management (HRM) are often used in place of each other but they are not exactly the same. It is true that HRM and HCM are very similar and they do have commonalities, but they also differ quite a bit. To give a very simple explanation, HRM […]

In any business, managing all the processes and controlling everything becomes more and more difficult as it grows. ERP systems like Tranquil have become essential for a business that wants to improve efficiency, maintain consistency, and enhance productivity and profitability. Companies also enjoy a significant reduction in costs, especially working capital, and gain a competitive […]