Landed cost tracking and the tracking of true landed costs is crucial to today's manufacturers, distributors, importers and retailers . Landed costs are essentially the total expenses incurred to purchase, transport, and import goods from one place to another, within a country or across continents, including border fees, duties, taxes, transport costs, insurance, trans-loading, and port handling fees. These are sometimes hidden costs that are involved in making goods available for sale, which, if ignored would distort the cost of the product being sold.
This FREE whitepaper focuses on landed cost tracking needs and software solutions for mid-size businesses. Gain insight into:
- How landed cost factors such as duty, brokerage, freight etc. are calculated and are applied to items purchased.
- How to price inventory taking into consideration an all inclusive inventory cost.
- Benefits of acquiring a sophisticated accounting and inventory management system with landed cost functionality such as:
- Ability for landed cost calculations to be based on various identifiers, such as volume, weight, or dollar amounts
- Decreasing operational expenses by eliminating manual tracking and costly mistakes
- Gaining greater visibility to optimize profits through proper pricing strategies
Keep in mind that accurate tracking of landed costs leads to:
- Improved cash flow - inventory is accurately calculated, releasing cash flow, lowering borrowing costs, and allowing growth potential
- Increased sales - the sales force gains timely access to accurate information, makes fewer errors, closes more sales and establishes longer-lasting customer relationships
- Improved time management - improved efficiency reduces the picking, packing and shipping time
- Reduced employee costs - business can expand without adding human resources
- Cost savings - error elimination in the picking and packing process saves money and improves customer relations