Three Measures of Customer Satisfaction Compared
It is a difficult task to gauge customer satisfaction without some form of survey to do so. However, understanding the extent to which your customer base is happy with your services is integral to your company’s success. For this reason, multiple tools have been created to help companies to measure their levels of customer satisfaction. [… ... Read More
February 3, 2018 customer loyalty, customer retention, customer satisfactionFive Reasons to Consider Trade Discounts
A trade discount is a variable reduction on the wholesale list price. Manufacturers and wholesalers typically publish a single price list rather than notifying prices to each different customer. Offering a specific trade discount to a customer is a way of varying the sale price for that particular customer. Trade discounts can be an important [&hel ... Read More
August 10, 2017 customer behaviour, customer retention, customer satisfaction, inventory management, pricing, pricing strategy, supplier relationshipWhy is inventory control important?
Inventory control means that there is adequate hardware and more importantly software in place that will help to increase efficiencies across your business. ... Read More
April 11, 2017 business streamlining, cloud-based software, customer retention, inventory control, inventory forecastingDoes Inventory Management Affect Performance?
Inefficient stock control can be avoided with the use of a good inventory management package, and thus company performance can be optimized. ... Read More
March 27, 2017 cloud-based software, company performance, customer retention, inventory control, lean manufacturingInventory management – A wholesaler dream
Effective inventory management is essential for a wholesaler to maintain order and efficiency, which will translate into a more flourishing bottom line. ... Read More
March 23, 2017 customer retention, stock alerts, streamlined inventory, supply chain management, wholesaler reputationThe benefits of a strong inventory management system
There are many aspects to running a business: sales, inventory, financing, and marketing, and all will have benefits for your business if done well. ... Read More
March 16, 2017 business benefits, customer retention, flexible inventory management, holding costs, inventory controlHow to turn the problem of being overstocked into a business opportunity
Overstocked? Don't worry, this negative can be turned positive, and even give you a chance to re-engage with your customers. ... Read More
March 1, 2017 change maagement, customer retention, data accuracy, excess inventory, overstockedCommon inventory mistakes and how to fix them
Inventory management is such a critical aspect of business operations that when things go wrong, there can be far-reaching consequences ... Read More
January 25, 2017 customer retention, inventory mistakes, lean inventory management, serial number tracking, stock forecastingWhy Is Safety Stock Important?
Safety stock is a term commonly used to describe a certain amount of inventory kept by a business in reserve, to protect against unforeseen events such as spikes in demand or supply shortages. Most businesses employ some kind of minimum level of stock in this way. The principal goal of safety stock is to ensure that there is sufficient product a ... Read More
November 4, 2015 customer retention, demand forecasting, inventory holding costs, safety stock, supply chain managementInventory Management – More Than Just Controlling Your Stock
When asked what inventory management is, business owners often say it’s about keeping control over stock levels: optimising how much inventory your business holds, to minimise costs associated with inventory handling, obsolete stock, and logistics. While inventory management assists with all of these things, its benefits to a business exte ... Read More
July 8, 2015 customer retention, data analysis, logistics, optimising inventory, stock control