P2P Training: Learning Through Teaching
Peer-to-peer (P2P) learning in the workforce is an effective method of conducting in-house training and professional development. It encompasses any learning platform or opportunity that is run by staff for staff where knowledge is imparted. Companies often have a professional development budget and although it is sometimes easier when everyone is ... Read More
May 17, 2018 business challenges, business management, employee satisfactionWorkplace training – what’s in it for the company?
Workplace training is an important part of company work life which, as expensive as it may be, is a necessary means to a skilled workforce. These days, as hard as you might search for the perfect workforce in terms of skills, you will rarely be satisfied with what you find. Not because people are less […] ... Read More
October 12, 2017 business benefits, business managementWhat Makes a Great Business Plan?
A business plan is essentially a blueprint for your business, so it is essential to get right at the outset. Although the UK is one of the easiest places to start a business, many new businesses mistake the simple processes involved in starting a business (such as choosing a business name, registering with HMRC and […] ... Read More
October 2, 2017 business management, GB, inventory management, UKUnderstanding Diminishing Returns
Diminishing returns is an economic principle that theorises about the relationships between an increase in the number of employees and a reduction in productivity. According to this principle, an increasing number of new employees causes the productivity of another employee to be smaller than the productivity of the previous employee at some point. ... Read More
September 30, 2017 business management, diminishing returns, inventory managementEncourage teamwork in the workplace to enhance stock control
In any business, large or small, good teamwork is essential for morale, productivity and efficiency. In particular, working in a warehouse environment can prove challenging, involving many demanding and often painstaking jobs. In this article, we assess some primary ways to encourage good teamwork which can help make stock control and work life eas ... Read More
September 28, 2017 America, business management, inventory management, stock control, teamwork, US, USASuccessful Business Plans A Factor Affecting Inventory Management
The overarching principle for a successful business plan is ensuring that it is easy to read quickly. While, in the past, plans were much more complicated, nowadays the best plans are streamlined and easy to understand. In this article, we examine the best methods for compiling a successful business plan. Business plans are a factor […] ... Read More
September 14, 2017 business management, business strategy, business success, inventory management3 Factors of Pricing and Customer Perceptions
Settling on a pricing strategy is a key decision that small businesses have to make. The decision is an important one as the prices you set affect your sales, revenue, cashflow and business performance. Pricing also has a direct bearing on customer satisfaction, a crucially important consideration for a growing business. So, how do your […] ... Read More
August 8, 2017 business management, pricing, pricing strategyFive Measures to Increase Efficiency and Reduce Cost in Your Business
There are several cost-reducing measures that your business can adopt today to increase your business’ bottom line. The important cost-reducing measures at the forefront of business operations that can directly impact your business’ costs are negotiating new contracts, taking advantage of opportunities by looking at alternative suppliers, havin ... Read More
July 18, 2017 business efficiency, business management, efficient inventory management, inventory management system, suppliersWhy Accurate Costing is Vital for Success
Inaccurate information about your company’s expenditure can greatly inhibit your capacity to make and maintain a successful business. Accurate costing information enables managers to measure profit, so that they can make the best decisions for the company’s future. Below, we summarize precisely why accurate costing is so crucial to the success ... Read More
June 14, 2017 accurate costs, business costs, business management, depreciationThe Many Variables Affecting Freight Charges
There are a range of factors that can influence the cost of freight transportation. Some of these factors can cause an increase in the cost of shipping rates, which can have a negative affect on your business. Below, we summarize the factors that may influence freight charges, from decreased freight volumes to international affairs and […] ... Read More
June 13, 2017 business management, freight, freight costs, shipments, transportation costsStocktake day – 10 points to consider
An accurate stocktake is an essential part of inventory management as it provides a reference point for assessing other inventory components. ... Read More
April 19, 2017 accurate stock counts, business management, how-to, inventory tips, stocktakeA Closer Look at Inventory and Warehouse Management
Inventory management and warehouse management sound very similar and are commonly confused or used interchangeably. Here's the differences. ... Read More
March 6, 2017 business management, business software, comparison, inventory management, warehouse managementWeathering the Storm: How Inventory Software can help you Manage a Product Recall
Product recalls are commonplace and are to be expected in many mass-inventory industries such as in the automotive, pharmaceutical and food industries. The risks and consequences involved in navigating the recall process can be unnerving. A product safety issue usually triggers a recall, so there are significant financial, legal and reputation risk ... Read More
August 25, 2016 batch numbers, business management, cost efficiency, product recall, serial numbers