New technology is both useful and disruptive. As companies struggle to adapt to an ever-changing environment of one innovation after another, they should prepare for things that could have a huge impact on how they do business.
Here are five inventions that could radically change the way companies manage their inventory. Continue reading
The whole point of managing supply chains is to make sure your customers’ needs are taken care of. You want to have the right parts and products on hand when your customers are ready to buy them. That’s how your business can enjoy steady growth and health. Continue reading
All around us we keep hearing about disruptive technologies being developed. These are game changers that interrupt business as usual and force people and companies to adapt to a new environment.
For example, there are driverless cars being tested in Japan that could seriously change the revenue sources as well as the long-held policies of insurance companies, police forces, public utilities, and parking lots, just to name a few.
And then there’s 3D printing, which has the potential to change not only consumer manufacturing operations but home construction, food production, and many other industries.
What about inventory management? What disruptive technology is in the works to shake things up in this important area of running a business?
Here are a few developments that fit the bill by making advanced inventory management tools available to more companies and also making them easier to use: Continue reading
The U.S. economy is holding steady and jobs still haven’t fully recovered from the recession several years ago, but that hasn’t stopped the manufacturing industry from having a great year in 2013. The future looks even brighter for it, too.
Here are 10 positive signs that should give us hope about the health of the U.S. manufacturing industry, as a whole, from Business Insider and Bloomberg: Continue reading
The Christmas season is the biggest time of the year for sales across the country. But on the flipside it also leads to the biggest returns of the year as people face buyer’s remorse, incorrect sizes, lack of funds, or other problems and decide to send merchandise back where it came from.
It’s a scary (and poorly reported) fact that one-third of all products sold online are returned. In the virtual world where people can’t try on clothes or make sure they like all the features on pieces of hardware before purchasing them, you’ve got to expect that mistakes will be made and people will need to return items from time to time.
But one-third still seems pretty extreme. There are some cases where people habitually take advantage of lenient return policies to try out expensive products they have no intention of keeping. Businesses need to balance the legitimate need customers have to return products with the potential abuse that can come from being too open.
How can you minimize returns and keep your customers happy? Here are five ideas, which are primarily aimed at ecommerce retailers: Continue reading
A little over a decade ago, inventory management software was just starting to reach small and midsize businesses. It’s been an uphill battle, but many SMBs are now convinced that automating their inventory management processes is the best way to save money and compete with large companies. Continue reading