Management, Books and Learning

Start saving by using these  8 Inventory Management Techniques Why Inventory Management Is Important Holding inventory ties up a lot of cash. That's why good inventory management is crucial for growing a company. Just like cash flow, it can make or break your business.  Inventory Management Saves You Money Good inventory management saves you money in a few critical ways: Avoid Spoilage If you’re selling a product that has an expiry date (like food or makeup), there’s a very real chance it will go bad if you don’t sell it in time. Solid inventory management helps you avoid unnecessary spoilage. Avoid Dead Stock Dead stock is stock that can no longer be sold, but not necessarily because it expired. It could have gone out of season, out of style, or otherwise become irrelevant. By managing your inventory better, you can avoid dead stock. Save on Storage Costs Warehousing is often a variable cost, meaning it fluctuates based on...

We all know Reserve Funds are important in any organization but through reserve fund availability, we can differentiate organizations in 3 types. 1. Worker:  Worker is someone who is leaving based on daily earning and spending. One or two days non availability of work/ income will directly affect bead and butter of the own and family. Similarly  Worker organizations  are those who are dependent on their monthly incomes for paying salary and other expenses. Mismanagement or non availability of finance in a month directly reflect on payment cycles and lead to late salary and payment of other expenses. Majority staff/team members working with this organizations leaves the organization if they are consistently not getting salaries on time. Employees who have second earning member in family may stay with the organization for longer period of time but who's family is dependent on one earning member will face problem in managing financial issues on regular basis. A...

Recently I was in discussion with one of my consultancy client where he was sharing his views on problem about trained manpower leaving the organization and starting their own ventures. The discussion leads me towards learning cycle of entrepreneurs in initial year of their carrier where they were working as employee with one or other organizations, the organizations whom they have/had left because of any reason which helped them in creating new organization and established them as entrepreneur. For example: What if Dhirubahi Ambani never left his first job? we never had Reliance industries... What if? They have never left the organization? They were loyal in terms of working with one organizaiton only? They never dreamed about their own enterprise/Business? The Answer is: We might not have new entrepreneurs We don't have new businesses we din't have new business modules and so on... The cycle of business us such that as Entr...