Invoice vs Statement Ever wondered why you get a bill or an invoice for other utilities while getting a credit card statement? What is the difference between an invoice and a statement of account? I am sure that like a majority of other people, you will be hard pressed to if asked to come out […]
Difference Between Invoice and Purchase Order
Invoice vs Purchase Order Have you heard about a document called purchase order? Yes, but don’t know what it is and confuse between this and an invoice? Then this article is for you and others who cannot differentiate between a purchase order and an invoice. Purchase Order If you are starting out on a small […]
Difference Between Inventory and Stock
Inventory vs Stock Inventory and stock hold great significance for any manufacturing company. Inventory includes raw materials, goods in production, and finished goods that are all considered to be part of a company’s assets as they are either ready or will be ready fro sale to generate revenue for the company. Turnover of inventory is […]
Difference Between Pallet and Skid
Pallet vs Skid There is a distinct difference between pallet and skid though you may have seen people overlooking that distinction. Generally speaking, the words pallet and skid are used to refer to a platform that supports goods in a stable manner while they are being loaded or transported through a jack or a […]
Difference Between RFID and Barcode
RFID vs Barcode Both RIFD and barcode are identification systems that rely on totally different technologies to track items. By now most of us are aware of barcode as we are used to the items we purchase from shopping malls being scanned to make an invoice. But not many know about RIFD technology which is newer and […]
Difference Between Sourcing and Procurement
Sourcing vs Procurement Many times people are confused between the terms procurement and sourcing thinking them to be the same. They even use these terms interchangeably which is incorrect. There are differences between procurement and sourcing that will be highlighted in this article. Both sourcing and procurement are similar in meaning to the word purchasing […]
Difference Between UPS and FedEx
UPS vs FedEx UPS and FedEx are the primary competitors in courier industry. When we want either a mail or package delivered, we commonly resort to the two aforementioned shipping companies for them to get to their intended destinations. They are known for their time definite delivery of packages and documents worldwide. One could not […]
Difference Between Procurement and Purchasing
Procurement vs Purchasing Procurement and Purchasing are two actions that are performed in relation to goods and services and they are done with differences in their method and approach. Procurement may be defined as the acquisition of appropriate goods or services at the best possible total cost of ownership. This is done to meet the […]
Difference Between Logistics and Supply Chain Management
Logistics vs Supply Chain Management Logistics and Supply chain Management are two areas that are often felt that they could overlap. It is possible that different companies define them differently. Logistics deals with strategy and coordination between marketing and production. On the other hand supply chain management focuses more on purchasing and procurement. This is […]
Difference Between Universal Product Code (UPC) and Stock Keeping Unit (SKU)
Universal Product Code (UPC) vs Stock Keeping Unit (SKU) Universal Product Code (UPC) and Stock Keeping Unit (SKU) are barcodes placed in goods. However, they differ in the representation made by these codes. UPC is the uniform bar code that provides the description of the product; while SKU is used to track stock and prices […]