Author: Global Chi
It is Important to Know Your Competitors
One of the most challenging aspects of putting up a business is dealing with competitors who want to get a share of your market. But this is one of the realities in business that you have to deal with so strategizing even at the start of your operations is important.
Achieving Operational Efficiency
When learning how to best grow your supply chain you may come across the term operational efficiency. Operational efficiency is the capability to deliver products to customers in the most cost-effective manner possible in a high quality manner.
Using SWOT Analysis To Improve Your Business
Analyzing the strengths, weaknesses, opportunities, and threats (SWOT) of a business is a well-established tool that is widely used by academics, consultants, and advisors. Although it is a simple concept, business owners often struggle when trying to use it.
What is Supply Chain Management
Answering the question of what Supply Chain Management (SCM) starts with breaking down the phrase into its component parts. Supplies are those inputs that a company relies upon to produce the product that will ultimately reach its customers.
The 10 key elements for a Best Practice Supply chain
Over the past 10 years a great number of businesses have been rolling out or updating their Enterprise Resource Planning (ERP), Distribution Requirements Planning (DRP) and Advanced Supply Chain Planning solutions (APS)
How to Define a Business
Businesses are everywhere. They are the units that perform most of the economic activity in our economy. Most businesses exist to generate a profit. There are some businesses that exist to perform a function other than profit, such as cooperatives and non-profit organizations.
Correcting A Negative Cash Flow
Your business might be heading towards bankruptcy if it has a negative balance on its ‘Net Change’ section of its cash flow statement. Immediate attention is required as failing to correct this negative trend will cause you to run out of money.