5 Steps to Setting Attainable KPIs
Key performance indicators, otherwise referred to as KPIs, are a bit of a buzz word for businesses. So what’s all the buzz about? KPIs are an important measure in business that help you achieve your goals. If you have ambitions for your business, you’ll need a plan for turning those ambitions into a reality. Goals […] ... Read More
September 30, 2019 business growth, business success3 Benefits of a Well-crafted BI Dashboard
For business owners just starting out, it may be easy enough to keep track of business KPIs and metrics such as sales records and trends, inventory turnover and more without much outside help. However, as a business grows this process can become more and more complex and time consuming. At the same time however, it […] ... Read More
September 24, 2019 business growth, business success, inventory stockGive Yourself the Competitive Edge of a Mobile-Enabled Sales Team
Mobile has changed the way we work, socialise and access information and particularly how we do business. With significant growth in the adoption of mobile technology in the workplace, the tangible benefits of a mobile-enabled business are being realised. From increased productivity to greater responsiveness to clients that exceed customer service ... Read More
August 30, 2019 business growth, sales mobile app, sales performanceThe Basics of Business Intelligence Dashboards
If you’re an inventory manager or a business owner, having data about the way your business runs can be a game-changer. However, gathering data is only part of the equation. Collating and analysing a wealth of information can be a tedious challenge, especially in the face of insurmountable piles of data. These issues are common […] ... Read More
August 19, 2019 business growth, business success, inventory reporting, real-time reportingThe Correlation Between Accurate Inventory Control and Sales Growth
Inventory control is much more than just having enough quantities of inventory stock on hand. It is also about ensuring that the right stock item is delivered to the right customer, at the right time. Therefore, it makes sense that a direct relationship exists between inventory control and sales. Accurate inventory control helps a business [&hellip ... Read More
June 24, 2019 business growth, inventory control, sales orders3 Inventory Management Bottlenecks That Stifle Growth
Many expanding businesses encounter productivity bottlenecks that stifle potential growth. Typical bottlenecks occur when an inventory management system fails to meet a business’ growing demands. Bottlenecks should be treated as temporary disruptions that can and should be fixed. Examples include an unexpected material shortage, an absent operato ... Read More
April 10, 2019 business efficiency, business growth, inventory management, inventory management systemSupply Chain Efficiency vs. Effectiveness
Supply chain managers can often think that if a process is efficient, it is also effective. In fact, this is not always the case. Confusion can arise because the relationship between efficiency and effectiveness is interrelated yet independent. This article will explain the difference between supply chain efficiency and effectiveness, and although ... Read More
April 6, 2019 business growth, supply chain, supply chain challengesInventory Control Impacts Profit: Make It A Positive Impact
Inventory control is something that all businesses need to get right, particularly as it is directly correlated to influencing business profitability. Factors such as how you source and store inventory stock and your approach to inventory control impacts profit. Therefore, effective inventory control is vital to maximising operational efficiency an ... Read More
April 4, 2019 business growth, inventory control, inventory turnover, profitabilityHow to Measure If Your Inventory Control is Working Efficiently
As a successful manufacturer or distributor, you understand the importance of managing inventory to ensure the business has enough stock on hand to meet customer demand. You’ve invested considerable time and effort into streamlining and enhancing your inventory control, but now you are unsure how to measure if these efforts have been effective. T ... Read More
March 11, 2019 business growth, inventory control, inventory management, inventory stock, inventory tracking, inventory turnover, stock controlHow Can Better Inventory Management Grow Sales?
There are lots of ways to bolster your business’ sales — but for a product-based business, inventory management is arguably the most important one. After all, if your products aren’t being sold then you aren’t making money. Great inventory management complements your sales team’s ability to sell, boosts your customers’ loyal ... Read More
January 7, 2019 business growth, inventory management, inventory management software, sales performanceHow will peer learning help your workforce?
Training employees is a critical aspect for any company. There are a variety of methods and techniques used to conduct effective training sessions. There are workshops filled with presentations, guest speakers, and offsite team building days. With so many different options and approaches, how do you find the right one? Training is a large investmen ... Read More
May 21, 2018 business challenges, business growthHow to Encourage Sustained Business Growth
If only starting and growing a business was as easy as planting a seed, keeping a plant alive and flourishing. Unfortunately, running a successful business is a lot more complicated. Read on for some tried and true methods to start and nurture business growth. Identify and shape your vision The first task of any endeavour […] ... Read More
May 11, 2018 business growthCan your business embrace the competition?
There are pros and cons to being competitive, but in business being competitive it is essential. Just because you are competitive with another company does not make you enemies! In fact, it is extremely important to critically analyse your competition and learn from their strengths and weaknesses in the market. Learning from competition If a [&hell ... Read More
May 4, 2018 business growthHow to Nurture Business Growth
The key to a successful business is to nurture business growth at every stage, and this involves several factors. In this article, we discuss some key ways in which you can nurture business growth and ensure it doesn’t fizzle out. Invest in The Right People When business owners are just starting out, they are generally […] ... Read More
April 28, 2018 business growthHow To Foster Sustainable Business Growth
Rapid growth may seem ideal at first, but it is only a good thing if that growth can be sustained over time. To be sustainable, the rate of growth in a business should be at a level easily achieved without the need to increase financial leverage or debt financing. Leverage is the amount of debt […] ... Read More
April 21, 2018 business growth, inventory controlWhy Networking Supports Business Growth
When trying to get a business off the ground, it can seem like there are endless avenues to follow. There are different people, different ideas and different companies that might support you and help foster business growth. There are so many unknowns when starting a new business that it can be overwhelming at times. The […] ... Read More
April 17, 2018 business growth, small business, SMEThe Basic Principles of Sustainable Business Growth
Growth sounds exciting. It signifies expansion, new business and potential success. When a business grows, it is also taking you into completely new territory. One of the biggest struggles that businesses face when they grow, is how to grow sustainably. As start-ups leave their start-up phase and go into something more concrete, it’s important to ... Read More
April 17, 2018 business growthThe Five Stages of SME Business Growth
When it comes to launching your own start-up business, chances are you have dreams of making it thrive in the not-so-distant future. Every great company started off on a small scale and grew over time, and there are five key stages of growing a small business that can help you keep on track with your […] ... Read More
April 16, 2018 business challenges, business growth, small business, SMEThe Stages of Small Business Growth
Business growth can be an exciting time, with sales on the up and an increasing customer base. However, with growth comes a range of challenges. In the following article, we discuss some key stages of small business growth, and also provide some tips and tricks on how manage each stage. The First Stage The first […] ... Read More
April 14, 2018 business growthSustaining Company Growth with Inventory Software
Starting a new business of your own is challenging enough as it is; surviving against competition, a volatile economy, and an often unpredictable marketplace is even more difficult. In the following article, we provide some tips and tricks for business owners looking to sustain company growth. Reduce Costs When you first start up a business, [&hell ... Read More
April 14, 2018 business growth, inventory management softwareSurviving Through the Growing Pains of a Business
Starting a business is an exciting adventure that can come with an enormous amount of risk and stress. It can sometimes be painful, keep you awake at night, force you to make difficult decisions that challenge relationships and put you in uncomfortable situations. However, with endurance and commitment, the benefits will eventually come. Let us [&h ... Read More
April 12, 2018 business growth, business success, inventory managementScaling Up: Overcoming Growing Pains in Business
Shifting gears from a fledgling startup to a medium sized enterprise is an exciting challenge, but not one without its pitfalls. Growing pains are real – as a business scales up, any number of things can go wrong. Each business’ risks and opportunities are different, although there are a number of common pressures that stand […] ... Read More
April 11, 2018 business growth, supply chain