Inventory management and inventory control are not the same thing. Though they might sound similar, they serve distinct business objectives—and you’ll need to know the differences between them to serve your business well.
Retailers that aren’t efficiently tracking their inventory run the risk of suffering losses of up to 12 percent of their annual revenue through inefficiencies such as preventable returns, out-of-stocks, and overstocks. This is why knowing the differences in inventory software—as well as what business purposes each type serves—is crucial for small retailers.
At present, 43 percent of small businesses don’t track their inventory at all, or are using manual processes. No matter how small your store is, you won’t capture the intricacies and complexities surrounding your inventory as it moves through the supply chain without using dedicated inventory software.
If you’re here, you’re probably asking yourself, “Which one does my small business need?”
The answer is, it isn’t about which one you’ll need—you’ll almost definitely need both—but about when you’ll need which tool.
One-third of British workers have reported feeling “financially unstable” for absorbing large or unexpected business expenses. Since enterprise employers are more likely to have expense policies, employees that work for small and midsize businesses are at greater risk—and that’s not the only expense-related challenge.
If you know which deductions to make, and have an expense management tool, your small business can save a substantial amount at tax time. But the opposite is true as well: You risk taking a fiscal hit if you’re caught off-guard at the end of each year.
NOTE: This article is intended to inform our readers about business-related concerns in the United States. It is in no way intended to provide financial advice or to endorse a specific course of action. For advice on your specific situation, consult your accountant or financial consultant.
“Cash is king” is a mantra that resonates with small business owners, who often struggle to find funding during the early stages of their business. However—despite the fact that a steady cash flow is one of the most critical aspects of small business success—82 percent of small businesses fail because of poor cash flow management strategy.
Whether you’re managing field service agents—or you work in the field yourself—you’re going to experience unique challenges as you try to collaborate with your team.
These challenges include inefficient real-time communication, less interaction between field agents and back office workers, information gaps about customers and tasks, and more.
What’s more, a survey of field technicians shows:
- Twenty-one percent of technicians consider the feeling of isolation to be the worst part of their day.
- Twenty-seven percent of technicians want knowledge base access on their mobile device, and 27 percent also want mobile customer history access.
Field service managers that don’t prioritize collaboration through the use of dedicated tools are subjecting agents to both organizational and psychological challenges that will reduce workplace productivity and ultimately lead to dissatisfaction and higher turnover rates.
This article was originally published on 08/10/2015 and has been updated as a product guide for bug reporting in 2018.
What’s that crawling in your code? Maybe your development team calls them errors, defects, or issues; as if that makes them any better. But let’s be blunt: They’re bugs, unintended glitches, or things not working the way they’re supposed to.
What happens when all those bugs start bothering your customers or developers? This is a sign your small business needs to reasses the way it approaches bug reporting—and that means considering investing in bug tracking software. In this article, we’ll survey five bug tracking solutions to help your development team reduce resources spent finding and fixing bugs and to free them up to make more polished applications for your end users.