A manufacturing process has three phases: raw materials, work-in-progress and finished products. The cost of production can be separated into these stages; however, most of the total manufacturing cost is allocated to the work-in-progress phase. What is Work in Progress? Work-in-progress inventory is the amount of money spent on the units of products in various […]
The calculation for total manufacturing cost involves a detailed accounting for the costs of materials, labor and overhead. It requires a realistic analysis of a company’s various departments to show their contribution to the manufacturing process and the costs of those contributions. The manufacturing process goes through three stages: raw materials, work-in-progress and finished products. […]
The E-commerce industry has undergone massive changes over the past few years. From product trends to revolutionized online stores, the digital landscape changes daily, and it can be hard to keep up. In this post, we’ll review some of the latest E-commerce trends as well as the best products to sell online in 2022. New […]
It is a great time to explore something new and make a profit online! It has been found by Statista that Internet retail growth increased by 40 percent, reaching more than $800 million in sales in 2020 alone, and overall, online merchants grew by 22%.1 This article will introduce several products with low cost and […]
Many generation industrialists gradually move towards brand thinking, and then begin to build the ability to use data analysis techniques to capture business opportunities. Service transformation In the early days, family OEMs and factory OEMs were everywhere, but nowadays, if you want to rely on OEMs to make profits, you are already facing low-profit margins. […]
A private label brand refers to a product manufactured by a third-party company and sold under the retailer’s brand name. The retailer decides on the product’s characteristics, packaging, and pricing. Before we introduce examples of the most successful private label brands, let’s answer the two basic questions: How much does launching a private label brand […]
Private labeling is when a retailer purchases products from various manufacturers and then markets those products under its own brand. Private label goods are often referred to as “store brands,” as opposed to the “name brands” that are sold under the brand name of the manufacturer. For example, the consumer products giant Procter and […]
Leading automotive paint manufacturers report that new car sales are moving forward, but supply chain issues are a serious concern. As we drive down the road, it’s clear that cars and trucks are a major part of our daily lives. Of course, coatings play a huge role among these cars and trucks, whether aesthetically or […]
Children constantly ask “why?” I know that it can be tough for a parent to always provide an adequate answer of the why behind what we are asking our child to do, but honestly, knowing “why” helps children make sense of the world. A clear understanding of “why” is as important to your child’s development […]
Consumers have recently been snapping up private-label goods at grocery and mass retailers. Will this trend last? Only if retailers develop a compelling private-label strategy and operating model. Private labels, or store brands, are having a moment. Early in the COVID-19 crisis, many consumer-packaged-goods (CPG) brands disappeared from store shelves due to panic buying and pantry […]
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