How to Choose the Right Business Intelligence Tools for Your Business
Business intelligence tools (BI tools) help companies to extract important facts from a huge amount of unstructured data. Transforming this rich data into actionable resources to help those organisations to achieve business goals and targets by guiding timely strategic decisions. BI tools help optimise operational processes, inventory control and t ... Read More
December 6, 2019 business growth, business software, integrated software, inventory reportingOptimise Business Decision-making With Business Intelligence Tools
Technology has created a range of new business intelligence tools that provide SMEs and large enterprises with the same opportunity to utilise the power of big data for business growth. The purpose of business intelligence is to optimise strategic decision-making within your organisation. With the help of this technology, organisations can improve ... Read More
December 4, 2019 inventory reportingSetting Good Business Goals: The impact on your business
If a business is small and just starting out, it may seem unnecessary to think about and define the goals at all. Small family-run businesses, for example, may feel they are trucking along just fine, with a small inventory to manage, a small consumer base and a manageable level of demand. A business may not […] ... Read More
December 3, 2019 business growth, inventory reportingWhy Your Organisation Needs to Know the Difference Between KPIs and Metrics
As strategic organisations, we want to make sure we’re creating the right inventory reports and making the right decisions based on the data we are using. With that, we know that Key Performance Indicators (KPIs) and metrics are important. The problem is that many organisations use the terms KPI and metrics interchangeably. However, each ter ... Read More
December 2, 2019 inventory reportingThe Value of Business Intelligence For Your Business
In the current environment of big data, many business owners are finding themselves overwhelmed by large volumes of information. They are constantly seeking ways to gain a better understanding and control of this information to derive the best value for their organisation. Business intelligence (BI) is a combination of the tools, technologies, appl ... Read More
November 26, 2019 business success, customer satisfaction, eCommerce, inventory reportingWhy Business Reporting Is Important For Business Success
Business reports are valuable and essential tools for any enterprise regardless of size or industry. They provide a means to track and analyse the performance and overall health of the business while identifying areas for improvement and opportunities for growth. Some business reporting is necessary as part of a regulatory requirement. For example, ... Read More
November 25, 2019 inventory reportingLet Business Intelligence Support Your Decision Making
If you have a business then you undoubtedly have an endless amount of data about your business. But what about analysing and reporting on that data? Sometimes creating meaningful answers from your piles of data can be challenging and time-consuming. When you have data pilling up, the data doesn’t end up being very helpful. An […] ... Read More
November 22, 2019 customer experience, inventory reportingWhy You Should Be Using Business Reports
Writing a report might not be at the top of your priority list at the moment, but business reports are a critical part of running a successful company. When you’re able to produce good business reports, you’ll be able to save time, money and see a tangible shift in the way your company runs and […] ... Read More
November 21, 2019 inventory reportingUnderstanding The Difference Between Lead Times and Inventory Cycle Times
Lead time and cycle time are widely used terms in the world of lean manufacturing processes. However, people are often confused when trying to understand the difference between the two and their significance to lean operations. Lead times are an external process that start when a request is made for a product or service and […] ... Read More
November 20, 2019 inventory control, inventory reporting, lead timeInventory Cycle Times: What They Are and Why They Matter
Inventory cycle times are an important component in manufacturing operations, production scheduling and inventory control. Cycle times represent the speed by which your organisation delivers its goods or services to the market. The cycle time of your inventory can be defined as the total time taken from the start to the finish of manufacturing acti ... Read More
November 19, 2019 inventory reporting, manufacturing, Manufacturing productivity, productivitySeparating Your Metrics and KPIs: What They Are and How They Differ?
When discussing analytics, the terms metrics and KPIs (Key Performance Indicators) are often treated interchangeably, however, they should both be approached differently because both can have a huge impact on how your business strategy is designed and implemented, as well as impact your inventory reporting. Metrics are a quantifiable measure of tac ... Read More
November 18, 2019 inventory reportingGoal Setting: Looking to the future of your business
Goal setting is an important aspect of both your personal and professional life. You might have personal athletic pursuits and goals of buying a house. When it comes to your professional life, you might be reaching for managerial roles or be seeking that yearly bonus. In order to reach your goals, they need to be […] ... Read More
November 15, 2019 business challenges, business growth, inventory reportingWhy It Counts to Know the Cycle Time of Your Business’ Inventory Stock
Cycle time is all about the delivery speed of a product or service to the market or customer. To help you on your way, this article explains what cycle time is, the significance a shorter cycle time can have for businesses, and once you have got this down, we broaden your horizons on how to […] ... Read More
November 12, 2019 inventory reportingHow well did your business migrate to the cloud? Use KPIs to answer this question
Cloud adoption is becoming more mainstream, with businesses from every sector migrating over and enjoying the benefits of cloud software. However, as with anything, it does not come without challenges. And the cost of these need to be counted in the overall decision about its efficacy. First things first, how do you decide which company […] ... Read More
November 8, 2019 cloud inventory management, cloud-based software, inventory reporting4 Best Practices for Addressing Underperforming Suppliers
Now you’ve identified underperforming suppliers. What’s next? It is important to hold suppliers and vendors accountable by directly addressing poor performance. How you do this though, is paramount. Building strong supplier relationships will benefit both sides. It’s better for your suppliers to acknowledge how important your business is to t ... Read More
November 4, 2019 inventory reporting, supplier management, suppliersA 3-Step Guide: Identifying Underperforming Suppliers
Properly tracking and evaluating supplier performance helps ensure smooth operations and profitability. This becomes extra important as you prepare to order stock in the lead up to the holiday season. If a supplier seems to always have an excuse, you’re not wrong in being sceptical if it’s a common occurrence and affects your business schedule. ... Read More
October 31, 2019 inventory reporting, supplier management, supplier relationship, suppliersAged Inventory Reports: What are they and how do they impact inventory control?
Aged inventory generally refers to inventory stock that has been held for longer than six months usually due to low consumption or slow sales. Aged inventory is not an overnight occurrence however, any surplus of inventory stock is both costing you money and restricting your cashflow. Aged inventory reports Aged inventory reports are documents that ... Read More
October 30, 2019 inventory control, inventory cost, inventory reportingDeciphering the difference Between KPIs and Metrics
KPIs and metrics are a few of the buzzwords floating around businesses these days but what’s the real difference between the two? They are important when it comes to reporting on your business performance and success. Let’s figure out the difference between them. We’ll try to keep it simple so you can decipher what a […] ... Read More
October 25, 2019 inventory reporting, inventory softwareHow to Identify Underperforming Suppliers and to Choose the Right Ones
Regardless of the industry you are in, managing your suppliers has benefits for your business. A successful company will embrace suppliers, viewing them as partners in helping to grow the businesses in a way that is mutually beneficial. They will have formal systems in place to track and evaluate supplier performance to ensure the smooth […] ... Read More
October 22, 2019 inventory reporting, supplier management, supplier relationship, suppliersManaging Underperforming Suppliers: What You Need to Know
Supply chains are becoming progressively more complex as businesses rely on a large network of manufacturers, wholesalers, retailers and a growing portfolio of inventory stock varieties to meet consumer demand for more choice. Stocking goods in the right quantities to meet demand maximises inventory turnover rates and will ensure that goods move qu ... Read More
October 10, 2019 inventory reporting, supplier management, supplier relationship, suppliers5 Major Consequences of Poor-quality Data and How to Avoid it
Data often gets pushed back on that never-ending to-do list as other day-to-day business operations take priority. However, your business’s information is only as good as the data you use behind it. The five major consequences of poor-quality data are: Poor decision-making Business inefficiencies Mistrust Missed opportinities Lost revenue LetR ... Read More
October 5, 2019 business efficiency, data accuracy, data analysis, data hygiene, inventory reportingHow to Track and Benchmark Your Success into Cloud Adoption
So you’ve removed the obstacles to implementing cloud apps and have migrated onto the cloud — you want to know how it’s going. How can you tell if the benefits outweigh the costs? Generally speaking, migrating into cloud-based technologies gives you a platform to grow with technology and seek previously unattainable opportunities. If you want ... Read More
October 3, 2019 cloud inventory management, cloud-based, cloud-based software, inventory reporting, software as a service