Mabel Profit Definition: Gross, Operating, and Net Profit Explained What is the relationship between gross profit and operating profit? Operating profit is a company’s total revenue minus its operating expenses, which include things like cost of goods sold, wages, raw materials, and other associated costs. Gross profit, on the other hand, is a company’s total revenue … Read more
The term “barrel of oil equivalent (BOE)” is used to express the amount of energy contained in a barrel of oil in terms of the energy content of other fuels. The BOE is a unit of energy equivalent to the energy content of 1 barrel (42 US gallons or 158.9873 litres) of crude oil. The … Read more
Capacity requirements planning (CRP) is a manufacturing process that determines the desired amount of future business and then plans for the necessary resources to accommodate that projected demand. CRP begins with sales forecasts, which are used to create production plans that detail the specific products that need to be manufactured, and when they need to … Read more
