Casual Articles - Business

10 Points to Resist Rip Offs
What might work wonderfully in one negotiation situation will not always be appropriate in another. The instant someone feels cheated, misled or taken advantage of, your opportunity to negotiate with her/him is over. Negotiation hazards tend to occur when you are taking a particular strategy too far.Many rookie negotiators have a tendency to push the envelope a little too far. Their ambition as beginners is understandable, but it will rarely result in a win–win situation. Negotiating rookies want to be the victors, like they are hunting prey. Even if the other party consents, they are likely not doing so without some serious repercussions. High-pressure ta

creased variability into account, including lead-times, higher volumes and stocking strategies, while improving their performance? Many times these issues are addressed with higher inventory levels. But is that the answer?

An AberdeenGroup benchmark study released in 2006, entitled The Technology Strategies for Inventory Management Benchmark Report, and reported on Industryanalystsreporter.com, finds that companies adopting new inventory management technology are better able to manage supply chain complexity and can reduce inventories by 20 to 30 percent while simultaneously increasing customer service levels.

The study also outlines that nearly 70% of the survey respondents say they have made or been asked to provide recommendations in the past six months to management on how to improve th

Start The New Year Off With One Penny
A penny doesn't go a far today as it once did. But one cent is half way to two cents. And $10 is half way to $20.The idea of the One Penny Project is that you start with nothing. The first step is to find a penny, then through different strategies you progress through the steps of doubling your income until you achieve your goal.By breaking the process of building financial income into smaller steps there is less fear of failure. The task doesn't appear as daunting when you are trying to turn $10 into $20, then $20 into $40, then $40 into $80, continuing until you reach your goal.Trying to think of ideas to turn $10 into $50,000 is mind numbing. The smaller m

We have all heard the pitch and it is hard to ignore. Sourcing your product from overseas suppliers can reduce your costs. More and more companies are turning this direction to not only lower the costs of goods, but also reduce the amount of working capital needed to run the business.

According to a recent CAPS Research study, entitled Effective Global Sourcing and Supply for Superior Results, almost half of all goods will be purchased offshore by 2010. The study also indicated that total goods purchased from overseas sources represented 31 to 40 percent of all purchases in 2005. There are significant advantages to sourcing material from overseas. The survey outlined that on average, companies with effective global sourcing strategies report cost reductions of 19 percent and a 12 percent reduction in total cost of ownership costs.

Sourcing overseas has become more of an accepted form of doing business within the fastener industry. Mark Cloud, VP of Sourcing for Wurth Service Supply, a fastener company located in Indianapolis, and one of 300 companies in the Wurth Group, a nine billion dollar company headquartered in Germany, indicates overseas sourcing is becoming extremely common in the fastener industry. “Many of our commonly used items are now only available through overseas markets,” said Cloud. Here is the other side of the pitch that you don’t hear. While your unit costs may go down, the protective layer of inventory needed to buffer supply risk, longer global lead times and increasingly complex administrative processes can chip away at any working capital improvement.

Expect Challenges and Delays

As companies begin navigating the waters of overseas sourcing, first and foremost they should expect longer and more varied lead times. Every day counts when trying to get stock available for sale. While you can expect longer travel with longer distances, overseas sourcing adds more variability. “We are seeing very different lead times with sourcing overseas,” according to Cloud. “Our domestic lead times for a special part may be about 12 weeks domestically, but we are seeing 24 weeks on average with overseas sourcing.”

Next, expect the purchase volumes to increase. “Overseas manufacturers are geared today to produce a very high volume, that’s how they offer lower costs, and that’s the way they sell the product,” according to Cloud. “In some cases we may have to bring over our entire annual volume, creating one of the biggest challenges that we face.”

One of the most important goals for any organization, a high customer service level, is also at risk. “When buying from overseas you have to pay much more attention when confirming and expediting orders,” according to Cloud. “Because there are so many more opportunities for something to go wrong, considerations like longer lead times, administrative processes, customs clearing, all contribute to longer lead times and can affect our service levels.” It becomes even more challenging to maintain high service levels, let alone work to improve service levels to customers.

Better Inventory Management Required

So, how does a company that is sourcing overseas take the increased variability into account, including lead-times, higher volumes and stocking strategies, while improving their performance? Many times these issues are addressed with higher inventory levels. But is that the answer?

The study also outlines that nearly 70% of the survey respondents say they have made or been asked to provide recommendations in the past six months to management on how to improve th

Are Happy Employees Motivated Employees?
When was the last time you felt excited, motivated and extremely keen to be at work? Chances are it was when you had a job or project that really interested you, you had control over what you did and the way you did it, and you didn’t have any worries about “over zealous boss” interference or lack of job security. It’s a great feeling and we can all probably relate stories of how and when we were most “motivated” at work.But as managers, do we consciously try to provide this same level of motivation for all of our employees? Or, are we merely fixated on striving to achieve the deadlines, budgets and targets that are set for us (and that seem to be getting tougher and to

tion in total cost of ownership costs.

Expect Challenges and Delays

Better Inventory Management Required

The study also outlines that nearly 70% of the survey respondents say they have made or been asked to provide recommendations in the past six months to management on how to improve th

Occupational Health and Safety - Room for Improvement
As a newly appointed Principal OHS Consultant for a Justice Department I receive a number of Incident and hazard Report forms from staff working in a variety of roles. What I find alarming is that the Manager comments on many of these reports from staff show a lack of commitment to a thorough risk assessment, which in turn leads to a lack of appropriate risk management.Many comments are of a nature such as;“There are no other contributing factors” (to a back injury sustained from getting out of an office chair). “The work environment is ergonomically appropriate”.“There are no environmental issues” (contributing to a steam burn from reaching over a boiling k

>Expect Challenges and Delays

Better Inventory Management Required

The study also outlines that nearly 70% of the survey respondents say they have made or been asked to provide recommendations in the past six months to management on how to improve th

Getting your Message to Stick - Tips on Creating the Stick Factor
During my travels in the Sales and Marketing game, I have come across a number of sales and marketing trainers that are huge supporters of what I call – “throwing mud at the wall and seeing what sticks”, this maybe interpreted as the Sticky Factor. Sure sending out thousands of emails or fax broadcasts in a spray and pray approach may be a practice that your small business leverages as way to attract potential leads and eventually new clients. You need to have this as one of your clubs in your business golf bag. Does it work on its own? Or is it just a waste of ink in someone’s fax machine, or another message in their SPAM filter or postcard in the trash can?Not only d

es we may have to bring over our entire annual volume, creating one of the biggest challenges that we face.”

Better Inventory Management Required

The study also outlines that nearly 70% of the survey respondents say they have made or been asked to provide recommendations in the past six months to management on how to improve th

The Power of Publicity - Finding Your Media Niche
Whether you are the owner, manager, or public relations director of a company, chances are, you’re always looking for ways to get your name in the public eye. While advertising is a great start, enhancing your advertising with publicity creates a perfect marriage of exposure for your company. What is publicity? It’s non-paid communication to promote your company in a positive light using media vehicles like television, radio, magazines, and newspapers. Through publicity you build mutually beneficial relationships between your business and the public on whom your success or failure depends.When it comes to publicity, most people believe they can write a press release, send

The study also outlines that nearly 70% of the survey respondents say they have made or been asked to provide recommendations in the past six months to management on how to improve their inventory management technology. And fully 83% of companies say they have made or been asked to make process recommendations for inventory reduction strategy within the past six months.

Thomas Uhrig, president of TCLogic, an inventory optimization software provider based in Indianapolis, sees the need for companies to improve their inventory management. “As companies deal with increased volumes of overseas products, they must do a better job of managing the rest of their inventory or potentially risk running out of warehouse space or, even worse, draining their lines of credit,” said Uhrig.

For planners this may involve purchasing other products more frequently, redistributing product amongst locations to obtain the optimal mix, realigning order points, safety stock, EOQ (Economic Order Quantity) or utilizing a postponement policy for purchasing new stock.

“Inventory optimization can be a very effective solution to come up with the right mix,” added Uhrig. “Companies utilizing inventory optimization software solutions are far more capable of maintaining higher service levels for their customers, but doing so without overstocking their locations. And they are much more able to work through the longer and varied lead times and increased volume that comes with sourcing overseas. The results they can see are better business results, especially in markets where their peers are struggling to compete.”

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In the United States of America some industries have been targeted as those most apt to hire illegal aliens and this is due to a long track record of abuse of exploitation of Hispanic workers and also of fines and violations. There are many such industries such as landscaping and carwashes especially. But there are many other industries on that list.

So many marketing teams claim to be the life blood of a business and sometimes they are and yet so many times I see that marketing teams fail companies miserably. But why you ask? Well too many know-it-alls trying to do the same old thing and running redline against the competition, which is also doing the same old thing and you have to wonder why?

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