How much goods to order?

Most traders order intuitively, which is perfectly fine when dealing with small quantities of goods. When sales rises, in order to be efficiently ordered, insight in inventory costs is needed. These costs are divided into three groups: costs of acquisition, holding and lack of inventory (missed income due to lack of inventory). An economically justified order quantity is the one that causes the lowest inventory costs.

Rounding numbers

Rounding the numbers in Excel is done automatically. Nevertheless, there is sometimes a need to influence how the rounding is done. This is crucial when we create reports with data expressed in thousands or millions, when decimals represent significant amounts of money. We can do this by adjusting rounding based on how the number is displayed or using rounding numbers.