What Is a Product Mix? A product mix (or product assortment) is the complete set of products a company offers to the market. When capacity, labor, or material constraints exist, a firm cannot produce every possible item at the desired volume. Strategic product‑mix planning helps you decide which products to produce, in what quantities, and … Read more
Why a Cohesive Logistics Strategy Matters Every product that reaches a retailer travels through a series of distribution steps—from raw material suppliers to manufacturers, then to distributors or wholesalers, and finally to the store shelf. A well‑designed logistics strategy aligns these steps, reduces wasted effort, and protects margins. Key Players in the Logistics Chain Manufacturers … Read more
Management Tips and Tools This Week This week, dive into essential management tools and techniques that can elevate your business operations. Discover actionable strategies that can help you streamline processes and improve quality assurance. 1. How to Perform Quality Assurance (QA) Audit in Business Quality assurance is paramount in maintaining high standards in product development. … Read more
Introduction to Activity Based Costing (ABC) Improve Product Profit Margins with ABC: Every business, whether large or small, requires constant financial insight to thrive. Understanding product margins is vital for optimizing profitability. Activity Based Costing (ABC) is a methodology that helps you identify which products and services yield the highest profit margins and focuses on … Read more
Understanding the Cost To Sales Ratio The cost-to-sales ratio is a powerful metric used in accounting to assess a company’s overall performance related to product sales and operational costs. This ratio is crucial for evaluating and enhancing decision-making by comparing financial periods and making necessary adjustments based on these variations. What is the Cost-to-Sales Ratio? … Read more