POST CATEGORY : Management

What Every Small Business CEO Should Know about Inventory Management

CEOs of small businesses are generally expected to know a lot about running a business. However, there are some, especially the less experienced ones, who may need to get more acquainted with important matters such as inventory management. For small businesses, being able to properly monitor and manage inventory is a must. The failure to do so can lead to dire consequences.

Small business owners

Inventory Management Is Extremely Important

Good inventory management is a vital part of running a small business. Even service-oriented companies have inventory to manage, although not to a point that requires meticulous attention or the aid of an inventory management platform.…

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The Best Waste Minimisation Strategies for New Businesses

Here is a guide on how a new business can identify ways to reduce waste and create a new strategy for waste minimisation.

Create a strategy to reduce business waste

Reducing the amount of waste your business generates isn’t just great for the environment, it could also save your business a substantial amount of money. An effective waste minimisation strategy will look at your entire business and identify the areas that you will need to reduce waste.

The First Step- Conducting a Waste Audit

Firstly, walk around the premises, noting down the the costs and quantities of any waste you see.…

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How To Determine the Best E-Commerce Logistics Solution

Running an ecommerce business is difficult, and many ventures fail because they didn’t have the proper logistics or management solutions in place to run the business smoothly.

It’s not uncommon for ecommerce business owners to be afraid of the unknown: outsourcing your company’s supply chain can seem scary at first. You may be worried that you won’t have enough control, there could be too many unknowns, or that you don’t want to go through the struggle of finding the right logistics company (especially if you have no firsthand experience).

Before you begin your search, consider the benefits of an ecommerce logistics solution.…

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6 Reasons an M&A Specialist Helps Maximize Your Company’s Sale Value

Congratulations! You took your business from a concept to a company. You identified a problem, assembled a solid team, built a solution, and grew revenue. But now, you have fresh ideas and new plans. You’ve made the decision — it’s time to move on and sell your company.

Mergers and acquisitions

That’s a hard conclusion to reach, but it may be even harder to determine where to go next. After all, your expertise lies in running a business, not selling one. Who do you contact? How do you market your company’s value, not as a product or service, but as an asset? A lot of moving parts go into a successful sale, and each one needs to fall into place perfectly.…

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Startup Shortcuts: Smart and Cents-able Ways to Make Your Little Business Look Like a Big Player

Starting a new business takes a lot of time: you have to decide between forming a corporation or an LLC, you have to find the right people to employ, and you have to build a website and/or find a brick-and-mortar building to rent or buy. When you first start, it may seem like it’ll take years before you are noticed by anyone.

Appear bigger

Fortunately, there are things that you can do while you’re still growing to make your business look like a real player. If you do a few things correctly, people will start taking notice of you sooner rather than later and you can claim your market share sooner than you might think.…

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Why Managers Shouldn’t Ban Mobiles From the Office

There’s an ongoing debate in the business world about mobile devices: Should they be allowed in office settings, or do they need to go?

Bringing smartphone to work

Some say that these devices cut down on workplace productivity. Others argue that smartphones actually increase office productivity, causing things to run more smoothly.

Maybe you are still trying to figure out what is best. While you’re deciding, discover some pitfalls that managers could face if they don’t let mobile devices stay.

You Lose Efficiency

Mobile devices allow managers to get hold of their employees quickly using means such as texting. Those whom you oversee will also be able to check their email and respond when they are away from their desks.…

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5 Ways Businesses Can Streamline Their Processes and Save on Manpower

Are you looking for ways to cut business costs? Guess what; there might be one area you could look at that could save you up to 50 percent of your expense bill by the end of the year.

Management team

Take a gander at the cost of skilled labor. For instance, we all know that starting a business requires good market research and an accountant or a CFO to ensure you make more than you spend. Then there is your business’ branding or image and the marketing of your product and campaigns aligned with that.All of these elements, for the most part, require staff to manage.…

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From Supply Closets to Multi-Facility Warehouses: Today’s Top SMB Inventory Management Solutions

Tracking inventory is essential in many small businesses, especially if you run a retail business. But there is much more involved in inventory management than simply tracking your products.

Inventory management

You also have to manage the pricing, the timing, the quantity of your orders, the best time for restocking particular products, the costs of your storage, and a lot more. A good understanding of your inventory is essential, and you must know how to manage it effectively.

Inventory management solutions give you much more control over your inventory, and they help to make this aspect of your business much easier for you, freeing your time up to focus on other tasks.…

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Does Clothing at Work Impact Employee Productivity?

The clothing you wear at work may have an impact on your daily productivity levels. If you want to do well on the job, you have to plan your outfits out in a meticulous and careful manner. Failing to do so can often lead to results that are less than desirable.

Businessman wearing business suit

It doesn’t matter if you’re a fan of classic mens business suits or more casual and easygoing attire. You have to make sure to dress for success every morning.

Attire impacts productivity

Attire can often influence peoples’ alertness levels. Studies indicate that people may be more alert and vigilant when they’re dressed in less casual manners.…

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Lessons Small Retailers Can Learn from Giants Like Amazon

The biggest brands in business didn’t become so famous by sheer chance. There are numerous smart decisions and careful planning that helped them achieve this.

Clothing store display

Every small business dreams of the day that their business can reach countless consumers from all over the world, but very few genuinely reach this point. Regardless, there is plenty of room for success further down the mountain; you just have to know which strategies to implement.

When providing retail services as a small business, there are many hurdles to growth and profit. If you learn the right lessons, however, it can be done.

There are a few lessons that any small retailer can learn from major giants like Amazon when building their business.…

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