A Useful Guide for Small Businesses to Stress-free Inventory Management During the Holiday Season
With the holiday season representing as much as 20 to 40 percent of annual sales for some retailers, it is vital to minimise the risks of having not enough or having too much inventory stock during the holidays. When items are quickly going in and out of stock and returns are being made in larger […] ... Read More
January 15, 2019 inventory forecasting, inventory management, small business, SMEHead in The Cloud: Upcoming Trends in Accountancy
With the proliferation of options now available in the world of cloud-based software, accountants are increasingly adopting new ways of performing essential tasks with new tools and systems. Cloud-based software has helped many accountants streamline their processes and in turn, prevent the likelihood of error and time wastage. Erik Asgeirsson, pre ... Read More
November 23, 2018 accountants, cloud-based, cloud-based software, small business, SMEWhy Small Businesses Should Implement Inventory Management
Inventory management can be a complex task for any business to master. Trying to optimise inventory stock levels can seem like an endless battle. Sometimes you end up with too much or too little. This trial and error saga continues for businesses who don’t have the right inventory management systems in place. Small businesses often […] ... Read More
November 22, 2018 inventory management software, small business, SMECreating an Omnichannel Small Business – It May Be Easier Than You Think
The term omnichannel may not seem synonymous with small business as it alludes to having a presence in multiple locations, with staffing and funding required to support it. In fact, that sounds big, doesn’t it? While this can be true, omnichannel business strategies are in fact extremely beneficial for small businesses and here is why. […] ... Read More
October 15, 2018 omni-channel, small business, SMETrue or False? Inventory Management Myths Debunked
Managing inventory, even as a smaller start-up business, can be a delicate balancing act requiring real dedication and commitment. There are innumerable myths about inventory management that plague the world of business and may even prevent new business owners from becoming successful. In this article, we dispel four common myths about inventory th ... Read More
September 22, 2018 forecasting, inventory management, small business, SME, stock controlWhy eCommerce is a Must for SMEs
eCommerce is transforming trade. Currently, eCommerce comprises around 12% of the world goods trade and it’s increasing annually. There is powerful growth potential in some populations segments. In India, only 15% of residents have internet access. Customer access will grow as telecommunication availability expands. Online business platforms ... Read More
July 31, 2018 eCommerce, small business, SME, SMEsIs it Time to Upgrade Your Inventory Management?
As a small business just starting out, you may find that a pen and paper is all you really need to keep track of your inventory levels and whereabouts. However, as your company begins to grow, you will soon find that this is insufficient. Do these tell-tale signs look familiar to your business? Let’s find […] ... Read More
May 8, 2018 cloud inventory management, small business, spreadsheetsA Domestic Supply Chain: Should You Source Locally?
For many small business owners, keeping costs low is important to being sustainable. For this reason, many look to source their materials and products from international markets, especially when sourcing locally is more expensive. While sourcing internationally can reduce costs, there are many benefits that come with sourcing domestically which any ... Read More
April 26, 2018 small business, suppliers, supply chainThe Growth of a Small Business Enterprise
The capacity for growth of SMEs varies greatly, due to their individual and often unique characteristics. They operate in different industries, differ in size, have different organisational structures and differing management styles. However, closer evaluation shows that amongst all these differences, many experience the same types of problems, and ... Read More
April 21, 2018 inventory stock, small business, SMEWhy 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 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, SMEStumbling Blocks on your Way to Business Growth
Business is cutthroat, there are no two ways about it. Growth is essential for long-term survival in anything under the sun, business included. Let us delve into some reasons for the stunted business growth of small businesses. Technological Advancements Technology is the cornerstone of business in this day and age, and small businesses are often [ ... Read More
April 7, 2018 business growth, business success, small business, SMEManaging Omnichannel Warehouses as an SME
Traditionally, retailers will rely on a single warehouse to hold stock for all of their stores, and perhaps one other warehouse to hold stock for their online store. However, the proliferation of online shopping has meant that large companies like Amazon are increasing the speed at which they deliver customer purchases to their door. With [… ... Read More
April 4, 2018 multiple warehouses, omni-channel, real-time inventory control, small business, SME, warehouse managementEncouraging Growth in a Business with Inventory Management
A fundamental concept to understand is that the challenges and strategies involved in starting a business are different to those required to keep it going and see it actually grow. There are several new hurdles that arise with seeing new growth in a company and must be overcome for survival. From inventory management to changing […] ... Read More
March 22, 2018 inventory management, inventory software, small business, SMEMake Your SME Work Environment More Effective
When you are a small-to- medium enterprise (SME) leveraging any strategy to set you apart from the competition is imperative. Often, SMEs are a fundamental part of innovation and economic growth. However, in order to be successful influencers in these areas, a SME needs to make sure they are operating as effectively as possible. There […] ... Read More
March 15, 2018 small business, SMECut Costs Without Cutting Corners
It is a well-known fact that start-up businesses usually tend to struggle with managing their finances, especially in the beginning. As an SME owner, it can be tempting to take shortcuts when cutting costs to free up your finances for other priorities. While it is often necessary to reduce expenditure as a start-up business, you […] ... Read More
March 9, 2018 business costs, cost control, small business, SMEPlummeting Costs and Rising Profits: The Picture for SMEs
Cost-cutting in business goes hand in hand with saving money and turning a higher profit. However, it does not need to be something backhanded or feared as the term might imply. In reality, cost-cutting in business does not need to be all that dissimilar to what would be done in a home. Let us explore […] ... Read More
March 8, 2018 business costs, cost reduction, small business, SMEFour Tips to Improve Your Business’ Balance Sheet
For many businesses, the income statement is the be all and end all. But if your business is geared for financial performance, it’s important that your business’ balance sheet is also healthy. Here are four helpful hints to tame your business’ balance sheet using inventory control. What is the balance sheet? Your business’ balance sheet [&h ... Read More
March 6, 2018 business costs, inventory control, small business, SMEUpcoming Trends for Small Businesses in 2018
2018 is looking to be a crucial year for small businesses. Innovative technology for gaining and retaining customers is slated to become more accessible but at the same time, new risks are emerging. Here are four key trends to be aware of and how online inventory management can help. Novel Technology Following on from the […] ... Read More
March 6, 2018 small business, SME, trendsStreamlining your Small Business for Greater Efficiency
One of the complexities of managing a small to medium sized business is having the ability to optimise your organisation, enabling it to run more efficiently. Unlike larger companies that have greater access to significant financial backing, small business owners need to be especially resourceful when implementing effective cost management, operati ... Read More
March 5, 2018 business efficiency, small business, SMEThe Hidden Costs of Running Your SME
While a SME business plan can help you to track the cost of buildings, equipment, stock and staff, there are many hidden costs that your business plan may overlook. These hidden costs can be very difficult to detect, but accumulate over time and can cause serious damage to your finances. Below, we address a range […] ... Read More
March 3, 2018 small business, SMESME and Omni-channel Warehouse Management
The face of retail has changed dramatically in today’s digitally connected world. Consumers are more well-informed than ever before and have increasingly higher expectations of their shopping experience. Not only do they want convenience and value, but they want the ability to purchase anything, from anyplace, at any time. Demanding fast and effi ... Read More
February 23, 2018 customer demand, customer experience, RFID, small business, SME