Have you been following the news about retail recently? If you have, then you may have noticed that the retail news outlets have been filled with doom and gloom lately.
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It’s the Holy Grail of business: increasing the number of profitable hours in a day.
Even if a business has some other, high value, assets such as factory plant, inventory is likely to essential to the business’ ability to trade profitably.
Businesses today are quickly adopting cloud software as the benefits become more apparent and even necessary to keep a competitive edge – benefits like less paperwork, greater efficiency, and time savings.
Due to the nature of the distribution model where distributors profit by selling inventory to their customers, failing to manage inventory well can be a major liability for distributors.
Look at a company with a reputation for strong employee engagement and you’ll find a high performing business. We’re not making this up.
Small and Medium-sized Enterprises (SME) are companies that are independently owned and managed with less than 250 employees in their ranks and bringing in less than 50 million euros per year.
Remember the old (and slightly misogynistic) phrase Happy Wife, Happy Life! ? Well, it turns out there is a workplace equivalent: Happy workers, productive business! (and no – we couldn’t make it rhyme).
As a small to medium business owner, getting your inventory management right can sometimes seem like a daunting endeavor. Fortunately, most of the stress involved in developing good inventory practice can be resolved by identifying the right inventory management strategies for your business. That’s not to say that there’s an immediately obvious solution for every problem – there are some tricky issues in inventory management however there are well-documented strategies to help you get the basics right.
It’s no debate that the world is becoming increasingly globalized. Despite some barriers to entry into international business, geographical expansion and the use of imports and exports has become easier and more prevalent. Regardless of the size of a business or where it chooses to operate, one necessity remains constant, and that’s the need for accurate costing.