Reducing your company’s inventory costs is never as simple as just cutting back on inventory levels. It’s ultimately about buying exactly what you need when you need and having the right amount of inventory to cover customer demand. When faced with this situation, companies invariably turn to calculating their economic order quantity (EOQ).
As a small and medium-sized enterprise (SME), and or entrepreneur, you’re well aware of how much time, effort and money it takes to win new business. Unfortunately, there’s always the threat of larger competitors coming in and stealing what you’ve worked so hard to close. So, should you resign yourself to this fate, or should you instead use a strategy to ensure that you not only keep your customers, but that you never lose another sale to a larger competitor again?
This is the second of two brief articles looking at Supply Chain Financing. Article 1 covered what is meant by the term ‘Supply Chain Financing’ and how money is moved faster through the supply chain via three common methods – Factoring, Reverse Factoring and Early Payment Discount. This second article now explores the different advantages of each method and potential future trends in Supply Chain Financing.
This is the first in a series of two brief articles looking at what Supply Chain Financing is, what are it’s benefits and what future trends we can expect.
Global businesses invest billions in projects every year, but many programs still fail to successfully deliver change. If you are a project manager, it is your responsibility to make sure that you deliver business value. If you are failing to meet your aims, it’s time to act quickly and take the right action. Consider these common reasons for failure, and address the cause before you throw away any more money.
I think it’s important, whatever stage you are at in your career, that you maintain the skills to undertake the analysis, interpretation and presentation of data.