Connect with us

Finance

Recession-Proof Your Business With Email Fax Service

Avatar Of Rajesh Khanna

Published

on

Given the title of this article, you might be more than a little skeptical – after all, it might seem like an unusual thing to promise that you can recession-proof your business with an email fax service.

But when it comes to your business success, there’s no denying that it’s the little things that can have a massive impact on your company’s bottom line. There’s a myriad of obstacles waiting to drag down your business – and if you’re not careful, you could end up sinking to the onslaught of yet more rough economic times.

And with job creation at a standstill and company budgets shrinking by the minute, it’s become evident that if you want your business to survive any rough economic patches, you need to consider every money-saving idea, be it sending a fax from the internet or using virtual assistants.

So if you’re ready to discover the best ways to save more than a few dollars from your company’s bottom line, then read on for the best ways to recession-proof your business with small – yet powerful – ideas:

Send A Fax From The Internet: See that office equipment in the corner of your office? The one that takes forever to process documents and send faxes to your customers and employees? That innocuous machine is eating up more money than you might think. Think of the last time you had to send a fax: how long did it take you to transmit the message, let alone receive confirmation that the other party received the fax? And let’s not even begin to mention how much time you’ll have to invest in sending a fax should it not go through the first time.

That’s where an email fax service comes into play. An email fax service eliminates the time and resources it takes to transmit documents to the other party by allowing you to send a fax online. The operation is extremely similar to sending an email, expect the other party receives the documents right from their own fax machine. To send an Internet fax, all you have to do is upload or scan the documents you want to send, enter the receiving party’s information and click “send.” Within seconds, your party will receive the information via their own fax machine or online – it’s really that simple.

The ability to send a fax from the Internet isn’t just convenient; it can save significant manpower, time and resources that are better spent on keeping your business afloat during tough economic times.

A Virtual Assistant. Employee cuts are often an unfortunate consequence of a harsh economic climate. With all of the job cuts being made around the world – and even in larger Fortune 500 companies – there’s no denying that there have probably been more than a few cuts made in your own business.

However, this doesn’t mean you have to scrimp on the assistance you need to smoothly and efficiently run your office. If you want to save a bundle of money and get the office assistance you need without taking on additional employees, why not look up a virtual assistant? Much like an online consultant or freelancer, a virtual assistant is someone who can prepare you documents, email clients and do all the other things those assistants excel at…

… Except you’ll never meet your assistant face-to-face.

It’s just another example of how the Internet has made it possible to run a business with lower overhead costs. As a business leader, it’s obvious that you need an assistant (or two!) to help you juggle multiple tasks and responsibilities. But rather than take on the costs of hiring a real-world assistant (which includes salary, healthcare costs, additional benefits, etc.), you can simply head to the Internet, type in “virtual assistant” and see the wealth of advertisements that pop up. You don’t have to offer virtual assistants any benefits, and they’ll usually work for set wages between $8-$15 per hour.

If you want to advertise for a virtual assistant, head to Guru.com, Elance.com or Craigslist and post an ad. Be sure to accurately list the responsibilities of the job, including tasks that you expect them to complete on a regular basis. Detail your budget as well, so you won’t have to waste time reading the resumes of virtual assistants who are out of your price range.

Recession-proofing your business should be a majority priority, as it’s apparent that yet another economic crash is imminent. Thanks to profit-friendly ideas like an email fax service and virtual assistants, you can eliminate waste without having to sacrifice on the things that help your business run smoothly.

Advertisement

Finance

Career Opportunities For Distance MBA in Materials Management

Avatar Of Rajesh Khanna

Published

on

The building blocks of any finished product, materials are integral for the smooth functioning of any organization’s supply chain. They range from standard raw materials and spare parts to assemblies and high-end tools & machinery that are used in an industry’s production process. Choosing the right source of material is an important consideration here as it influences the latter’s quality, price and accessibility – features that play an important role in determining whether an end product can be manufactured in abundance and if it is able to achieve its desired specifications of timely delivery, quality output, optimal pricing and customer value proposition. Equally important for an organization is the need to avoid excess or shortage of inventory by ensuring that only the right quantity and quality of material is stored in the warehouse at any point in time and is made available for use at the right time and at the right price.

Considering that manufacturing firms invest more on their materials than on any other inputs, effective management of materials becomes crucial for an organization in order to curtail its manufacturing cost and to boost its profitability and ROI (Return on Investment).

What is Materials Management?

Materials Management deals with the systematic planning, organizing, directing, control and coordination of the various activities that govern the movement of materials from their source of supply to their intended destination. The primary objective of this is to provide an uninterrupted supply of the necessary component parts that are essential for producing or delivering the final product or service. The broad field concerns every aspect of materials ranging from the timely ordering, inspection and quality control of spare parts and replacements to the logistics involved in their shipping, warehousing, distribution and disposal.

With increasing focus on environmental safety and sustainability, the need to preserve sparingly available resources and to explore renewable alternatives has gained more prominence than ever before. This field also emphasises on this area by undertaking environment-friendly measures in the form of reduction of harmful emissions and hazardous waste, recycling etc. while simultaneously enhancing the overall aesthetics of the surrounding area or locality.

Since it is a vast field, its scope often varies from one establishment to the other. Certain organizations consider the procurement of materials as one of the key responsibilities of this function while others have a separate purchasing department to oversee the sourcing activities. Many large-scale companies rely upon sophisticated ERP systems to bring in more transparency, accuracy and efficiency to their elaborate materials management process while small enterprises make do with ordinary spreadsheets for tracking and controlling their material flow.

Role of a Materials Management Professional

As a materials management professional, you can expect to be involved in any or all of the activities that comprise the end-to-end process of it. Typical roles and responsibilities include materials planning and need identification, scheduling and timely release of orders, procurement of raw materials, receipt, inspection and storage of the delivered items, inventory control, and issuance of materials and removal of scrap. Selecting appropriate vendors, sourcing best quality goods at optimal prices, maintaining cordial vendor relations, establishing standardized procedures and optimizing the demand and supply chains are few of the other responsibilities that are usually part and parcel of a materials management analyst’s job role.

Career Opportunities Post Completion of a Distance MBA in Materials Management

Since materials are non-negotiable for both private and public sectors, hence, steering your career in materials management is tantamount to rewarding job opportunities and attractive pay packages. A specialization in this field can help you bag materials management jobs in leading manufacturing firms, retail/e-commerce/supply chain/FMCG/ service/packaging/railways/shipping/aviation/logistics industries, transport & purchasing companies, government departments, defence, corporate houses and industrial establishments amongst others. You can choose to venture into operations, strategy, project management or consulting roles and explore job titles as diverse as Logistics Director, Inventory Manager, Materials Manager, Materials Analyst, Store Manager, Vendor Manager, Sourcing Manager, Supply Chain Manager, Procurement Manager, Stock and Inventory Head etc. In order to increase your chances of employment in this domain with immense potential, it is important that you equip yourself with a professional material management course from a reputed educational institute that is globally recognised and famed for its innovative course curriculum.

Continue Reading

Finance

Buy a Reconditioned Tour Bus for Sale That Is Like New And Costs Half the Price

Avatar Of Rajesh Khanna

Published

on

Tour buses are good for running a private game resort or a tourist transportation company. Since it can be a bit of a hassle if you do not have your own transport for your valued guests. While there may be options such as hiring or leasing vehicles, it’s so much better when the group is all together. They can get the same information, go site seeing at the same time. And they can also have the experience as a team – after all, more the merrier. A bus has more space. You should consider owning a bus to use it as part of your business or to lease it to other businesses. If you are considering starting a new transportation company to transport people. Then investing in used buses can bring a lot of benefits to your business. And is the shortest route to success.

What is a tour bus?

A tour bus is a bus used for the transportation of people to various places. It can be approximately 45 feet in length and can transport between 43 and 60 people per trip. Additionally, they have cargo space used to store goods and belongings. And gets used for more than one aspect of business within the transportation of people.

These buses vary in size and fit every budget and business need. You do not want to buy a random bus that offers no style or even comfort. You must dig deeper to find something that will last you for a long time. And will also have electrical and mechanical systems that will be relevant for several years to come. Reconditioned buses are of good quality and are a tourist attraction on their own. They have modern style exteriors, comfortable and spacious interiors, safety, and advanced technological features.

Which is the best tour bus for sale in the market?

When you are purchasing a high-value product such as a vehicle, you want it to be in the best quality. And generally have a stylish and attractive appearance. You want this vehicle to last you over a long-term period. You want a bus that requires minimal maintenance to keep it in great shape. And you want it to perform the activities that you have set out for it. When looking for transportation for your business of moving tourists around destinations. You want a bus that will be reliable and affordable. Something that is attractive and can draw in more customers. Every Tour bus for sale should have the following amazing features:

  1. The exterior– this is an important part of any bus because first impression counts. Imagine a bus so beautiful that everyone wants to ride in them. Reconditioned and repainted used buses have a like-new appearance. They have features such as grab handles, which are easy for use by people of all ages. They have stylish huge inch wheels with beautiful chrome wheel covers. The chrome wheel simulators give that sparkle to the bus as you drive. The tinted windows are big to give your passengers a great view. Passengers love the view while driving around various destinations and tourist attractions. To top it up, the bus should have a modern style, design, rear, and headlamps, to give it an impressive appearance.
  2. The interior– It makes all the difference to the passenger with its comfortable seats. Depending on the size, tour buses can fit between 14 and 35 passengers. They have vinyl seats that maximize comfort. Every bus comes with an air conditioning and heating system that keeps the vehicle warm or cold. One can adjust the temperature as per the needs of the passengers. They have a wide passenger door giving the passengers convenience. The wide door avoids cramping up with a much smaller door. A large passenger cabin ensures there is enough space between the seats. This makes sure that passengers can sit with comfort and not feel squashed. After all, comfort is the defining factor for any bus. As people spent significant time sitting on the bus and viewing places of attraction.
  3. Safety – It is one of the key aspects that every bus should have. Every seat should have a safety belt that is long enough to fit any size of a person. The seat belts offer much-needed support in case of emergency braking. All used buses have built-in speed limiters to ensure driving speed is always within the legal limits. This avoids unnecessary speeding that causes accidents. They also offer the driver advanced cruise control and stability control systems. This ensures that at any given time, the driver has full control over the vehicle. The bus should have large external rear and side-view mirrors. This is to make sure that the driver has clear visibility of vehicles that are behind and beside the bus. There is an added technological feature that informs the driver of any tires that have gone or are going to be flat. This is important as the driver can then work to maintain the required tire pressure.
  4. Special features – while a bus is not designed to be a sports car. It packs in the experience of driving the latest luxury cars. With several exciting features, a reconditioned used bus will not disappoint you. Its purpose is to improve your driving experience. They have engines designed to be eco friendly. The engines save up a lot of fuel with its impressive and amazing miles per gallon ratio. The driver’s side has an airbag to support safety in case of a collision. There are many other special features that are useful. These features will ensure that your passengers enjoy the ride to the most. And are waiting for you to explore.


Benefits of having a tour bus

Traveling by bus has benefits to both the owner and the passengers. If you are in the business of transporting people, then a bus is something you should have. Since it’s essential for transporting tourists, visitors, or large groups of people. These buses have a range of benefits, including but not limited to the following:

  1. For the passengers, the most evident benefit is space. With buses, passengers can carry a lot of their belongings in one go. This is without even compromising the space that’s required for passengers. And this is because buses have large passenger cabin space.
  2. If the passengers are on tour as a group, they will want to travel together always. Now having a bus is a bonus for them as they will get to experience the entire tour as a group. And they will travel together as a group.
  3. Buses are safe and this is due to the fact that they travel at low speeds. As it’s evident that speeding is one of the causes of crashes and collisions on the road.
  4. Buses are comfortable to travel. They come with comfortable and spacious seating arrangements and even include flip seats. These flips seats allow more passengers or more luggage, whichever comes first.
  5. As a business owner, you can offer visitors and tourists the convenience of saving money. As they will have dedicated transport to take them to the various sites. They will even save time since they don’t have to wait to hire private vehicles or public transport. And the entire group travels together.
  6. Buses are reliable. All you need to do to make sure that the bus never lets you down is a regular service. The tires must have enough air pressure and fuel and then you are good to go, that’s it.
  7. Buses have a long life span. They can be functional and durable for as long as 10 years or more. And with regular service intervals, it can last for a longer period.
  8. Depending on how your business is set up, you can make some extra cash through the bus service. For example, if you own a holiday resort where you accommodate tourists and visitors, you can add a bus tour. The tourist will love it as they get familiar with the local area.
  9. The bus can generate a great amount of income especially in peak times of the seasons. Since there are a big number of tourists and visitors coming at the same time.
  10. The bus has many other uses. For example, it can operate as a shuttle bus to the airport when it’s not transporting tourists. It can also operate as a bus to transport people to events. Or even for transporting people to entertainment functions such as concerts and festivals.

Financing your tour bus

There are several ways in which you can finance your bus. You must make sure that you find a suitable and affordable way.

  1. You can finance your bus through a cash transaction. This is possible when you have disposable funds that are available for investment. This way has an added advantage in that you do not have to pay high interest as you did not borrow cash.
  2. You can also get it financed through credit. Many bus companies offer great and the best specials for the finance of their used buses. All you must do is inquire with their finance department. They will share with you all the great deals and benefits that come with using their finance facilities. While financing may incur an extra cost through credit, you should make sure to get affordable deals. Many companies have tailored deals that are fit for you individually and their financing is one of the best in the market today. They can calculate how much you qualify for, and what the monthly repayment amount will be. So that you are well prepared in your budget.


More reason to buy tour bus for sale

Now that you have examined the features that come with a tour bus for sale in American and Canadian markets. And are aware of the various benefits that you can reap from purchasing one, you can now look into investing. It is no doubt that owning a bus will give you additional profits, should you manage it right. With a wide range of used buses for sale to choose from, you can always buy one that fits your budget and business needs.

Continue Reading

Finance

Windows Small Business Server 2008

Avatar Of Rajesh Khanna

Published

on

In big business it isn’t entirely difficult to create a computer atmosphere that is robust, serves its users well, and is not broken down more often than not. The trick is to hire the right people to build and maintain the network and deal with IT projects as they come up. OK, maybe it’s not quite THAT simple but it doesn’t need to be a nightmare, provided the right resources are in place.

In the small business world, things often become entirely different. Many small businesses simply don’t have the resources to build – let alone maintain – a network that will adequately take care of business needs. Many small businesses wind up with a mismatch of different parts put together piece by piece by whichever technician was available at any given time and was offering the right price. Nobody’s really sure how the pieces fit together and why this was done or that was configured differently. Just finding a password for a router can be a gargantuan challenge in its own right.

I doubt I’ve ever met a small business owner who wouldn’t do whatever it would take to make their network stable and more importantly, useful and to manageable, were the resources to do so in place. From a software vendor’s point of view, it’s great to charge lots for your product and have a niche base of large businesses who can afford it. We all know that small business is in many ways driving the economy. Is it really wise to target only those large businesses and leave a wealth of opportunity on the table?

Sure, there are plenty of free and open source products out there that can take the edge off of ferocious software prices, and in fact I’ve bestowed their virtues here oh so many times. I am indeed a firm believer in the value of open source in business. My view of those benefits begin to fall apart however when we consider running an entire business on open source software when resources are limited.

Open source products are typically more difficult to manage than their commercial counterparts and support can at times be hard to find. Even the best technician needs technical support from time to time and when it’s not available – especially when a critical system is down- things can get hairy.

To me, it makes more sense for a small business to run critical servers etc. on mainstream software and leave open and source to the likes of non-critical desktop computers, web servers, and even some email servers. A small business can survive a day or two without email but is dead in the water without point of sale or accounting software.

Windows servers can form the foundation of a Windows network and let’s face it; Windows is the most dominant operating system out there. Windows servers can also serve Mac, Linux, and UNIX computers as well, so all told they’re not a bad choice for a network foundation. The problem is, they are usually not all that inexpensive.

Microsoft saw an opportunity to address the needs of small businesses, provide some higher end products that would help drive those businesses, and of course increase their own ‘[

revenues. Small Business Server is a bundle of a number of products and is priced a great deal below what one would pay for the individual packages if they were bought separately. Small Business Server was first released in 1997and frankly the first couple of versions were – well, let’s just say “not so great”.

It really wasn’t until Small Business Server 2003, released in (you guessed it!) 2003 that Small Business Server came into its own right. Small Business Server 2003 includes the standard Windows Server plus Microsoft Exchange Server, Windows SharePoint Server, and a plethora of “wizards” that make managing the server relatively easy for a small business owner. The Premium edition also includes Microsoft SQL Server and Microsoft ISA Server It doesn’t much matter at this point what these things are except that they are excellent business tools.

Taken together, these products provide a solid foundation for a network that includes shared calendar, contacts, and tasks. Also included is a team web site (also known as an Intranet) and with the Premium edition, a database server and a network firewall.

If you consider the standard edition weighed against the individual software packages for 5 users, Small Business Server 2003 comes in at about $575 while the individual packages are priced at about $2100. That becomes roughly $1150 compared to about $2700 when you license 10 users. The savings go and on as users are added.

So, what’s the catch? Small Business Server 2003 can handle a maximum of 75 users, domain trust relationships are not available, and only the Small Business Server 2003 can be a domain controller. It doesn’t matter a hoot what those things mean except that very few small businesses would ever know the difference.

Microsoft is due to release Business Server 2008 in November 2008. If you own a small business and are in the market for a new server, Small Business Server 2008 will be one of those products you’d be remiss to overlook. If you need a server today you can buy the 2003 version with software assurance and get the upgrade for free. Just beware though, Small Business Server 2008 will be 64 bit only so be careful to buy the right hardware!

Continue Reading

Finance

Types of Intruder Alarm System

Avatar Of Rajesh Khanna

Published

on

You don’t ever want to have to deal with an uninvited “guest” who has made his way into your home or office. One way to scare this person away is by installing an intruder alarm system. You will be able to keep your belongings, as well as your loved ones, safe once you have your alarm system in place. What a relief it will be to know that you have taken positive steps to protect your loved ones.

Many local businesses sell alarm systems for homes and businesses. There are many different styles and sizes to choose from. Some cost as little as $10 and others cost hundreds of dollars because they give you whole-system options. The more complicated systems require professional installation while the cheaper ones come in easy to install kits. It is not necessarily true that the more expensive systems do a much better job than inexpensive ones.

The entire alarm system concept is very easy to understand. It basically is just a simple electrical burglar alarm that is built right into a home or business entry. These alarms go off when they detect some kind of foreign intrusion. Two types of electrical systems that are used quite often are: closed-circuit and open circuit. A closed-circuit system works when for some reason the electrical circuit is broken (by an intruder) and the flow of electricity is stopped. When that happens, an alarm goes off. An open-circuit system works after the door is opened. When that happens, the circuit is closed and the flow of electricity is triggered and sets off an alarm.

Circuit-type alarm systems work very well in protecting the outside of your house or office building. However, they don’t work as well as a motion detector to protect the inside of your home of building. Motion detectors use either microwave energy or ultrasonic sound waves to detect any kind of motion. So, when an intruder passes near the motion detector, an alarm will sound.

These are just a couple of ways that you can keep your home or business secure when you’re present – or not. An intruder alarm system, if activated by an intruder, will go off loudly and alert you and sometimes the local police that an unwelcome visitor has broken into your home or office.

Continue Reading

Finance

Synopsis on First Aid Health for Everyone

Avatar Of Rajesh Khanna

Published

on

Call it troubles, or calamities or unforeseen incidents, when any one of them strikes us and we are wounded physically then low behold we only have to attend to ourselves, by either visiting the doctor or helping ourselves with the First Aid Kit. First Aid usually is the first option or the initial remedy to any kind of illness or physical injury. First Aid kit is available at all places whether it is a school, a playground, home or an office. Let’s quickly skim through the earlier phases of first aid invention:

During the earlier times i.e in the 11th century the religious knights performed the first aid called the Knights Hospitaller. They are the ones who use to assist and take care of knights and pilgrims, in addition to imparting training to other knights in how to give treatment to usual battlefield wounds or injuries. The most popular amongst people or the renowned organizations as we call it are the Red Cross which was founded in 1863, the St. John Ambulance which was formed in 1877 and of course the American Red Cross in 1881, all these amazing organizations were conceptualized and built with a strong foundation of ethical principles and values of the great Knights Hospitaller.

The main objective of the First Aid can be summarized in 3 main areas:-

* Save life: The main focus of medical assistance is to save life.

* Prevent deterioration of health: Providing the right medical assistance immediately ensures that the health does not deteriorate further and the condition does not get worsened.

* Enhances speed of recovery: Proper and timely medical assistance ensures that the wound healing happens faster to cite an example applying plaster on a wound immediately will start the healing process spontaneously.

Typically people would purchase a First Aid kit from any superstore or pharmacy. The entire kit comprises of the following items; scissors, cloth tape adhesive ones, cloth and adhesive bandages, packs of ointments, wipes antiseptic ones, space blanket, compressing dressings, gauze pads, gauze gloves, tweezers etc. It is but obvious that each standard medical First Aid kit will be different and will vary as per the price and the size of the kit and the price of each item will be different.

Usually these First Aid kits can be easily accessed by the people and it is so user friendly that people are provided tools along with the first aid kit which assists in administering them in case of injury or use these tools and assist people who have suffered injuries like scratches, surface cuts, splinters, grazes and many more. There is another variant of First Aid which is called as Emergency First Aid. This kind of First Aid is administered by a qualified individual who has the knowledge and the required tools to take necessary actions in an emergency situation. It is highly recommended for most of the people to stay calm and call 911. Training for Emergency First Aid can be imparted by the renowned organizations mentioned above besides the American Heart Association and National Safety Council. The Health Insurance Portability and Accountability Act or HIPAA recommends important aspects in training for emergency aid are administration of Cardiopulmonary Resuscitation (CPR), splinting a broken bone, controlling bleeding and clearing airway passages.

Emergency First Aid has always been a boon to people as it assists in timely and corrective help even if the ambulance does not arrive on time. Appropriate qualified personnel can administer the patient and at least ensure that the patient’s health does not deteriorate till he/she is taken to the hospital.

Continue Reading

Finance

How to Manage Your Inventory and Use Inventory Management Software

Avatar Of Rajesh Khanna

Published

on

How do you manage your inventory? The amount and the number of product lines can vary greatly between different business. Some businesses in a niche market may only have 5 or 10 products where other businesses can have thousands and thousands of product lines. Regardless of the number of lines the process to secure and manage inventory is the same. The factor that size and volume creates is that if you have inefficient processes and systems the problems are compounded.

At the basic level how do you manage inventory?

Step 1. Inventory is ordered.

To do this you need to work out what you need to order based on the customer demand. You never get your estimate of customer demand perfect but after a period of time you can get close. So to confirm this step again you need to order the stock that you expect customers to purchase over the next week or month depending on the shelf life of your product and also the financial cost of holding that stock.

This sound pretty easy but in reality this is where so many businesses owners spend many many hours. It is this task of ordering that is one of the most painful. If you get it wrong it can cost you a lot of money.

So what tools does inventory management software need to provide to make this tasks more accurate and efficient?

A good system will include the ability to set minimum stock levels and stock re-order quantities. The software should then be able to show the user what stock has hits its re-order level with tools to quickly add these items to a purchase order.

The other things that is also important is the ability to be able to see what stock is required for sales orders that you do not currently have in stock.

The above two capabilities are the most important tools you should look for in your inventory management software from a purchase order perspective

Step 2. Receive the stock.

This step is the simple process of receiving the stock. However what you need here is systems of control to ensure each pallet, crate, and box is checked against the purchase ordered so that you ensure what you have ordered has been received. If there is something missing it needs to be noted in your system and either placed on back order or the purchase order changed.

Your system is only as good as the data entered by you and your staff. if you are not disciplined then you will lose control of your inventory.

Step 3. Sale and dispatch of your orders.

This is where stock leaves your control through sales. Items through the sales process should be scanned to ensure accurate movement of the stock. If you are not giving the product directly to the customer then you need dispatch procedures to manage the outgoing orders and to ensure all the stock in the order is dispatched accurately and the data recorded in the system.

Step 3. Customer returns and supplier returns.

If you stock is faulty then you need to receive the stock back from the customer and then track the process of returning this to the supplier and getting a credit note. So many businesses are lazy in this area and do not have a good inventory management software system that helps ensure they not only return the stock but get a replacement or a credit note/refund. Do not burn your money here, ensure your systems gives you the ability to track on follow through on supplier returns.

Step 4. Stock adjustments and stock take

Stock will get damaged, lost and sometimes stolen so you need the ability to adjust stock levels to ensure your inventory management system is accurate. This is completed through stock adjustments and then on a larger scale a full stock take. For the stock take process you need to be able to print out your current stock list and then go through the process of counting and recording the stock levels so that the system is accurate.

Note: A good system allows you do complete partial stock takes so that you do not have to do the stock take at the one time or you can do a rolling stock take.

Step 5. Product pricing and stock reports

It is vital that you can quickly get reports on what stock is moving, what stock is not selling and what you are making money on so that you can manage your stock levels and most importantly your margins.

A couple of very important features that you find in a good POS system is the ability to change prices via the incoming goods screen so that as you see how much you are paying for stock you can adjust the price to maintain your margin levels.

The other feature unique to a limited number of POS systems is the ability to see an entire category of products including the stock levels, the average cost price, the last cost price and your margins with the ability to make bulk changes and individual changes on the one screen. This re-pricing tools is so valuable and save hours upon hours not to mention boosting profits.

So in summary good inventory management software provides the tools you need to manage the above steps. I encourage you to spend the time researching so that you find the right system with additional tools that are designed to save you countless hours each week and to ensure you control your stock levels and expenses in addition to your margin levels.

Continue Reading

Trending