“Policies are many, Principles are few, Policies will change, Principles never do.” John C. Maxwell A common answer I get when I ask individuals why they chose to become entrepreneurs is, “We did not want to get buried in bureaucracy and policies which stop us from performing optimally.” I completely understand where they are coming - Read More -
“The first rule of any technology used in a business is that automation applied to an efficient operation will magnify the efficiency. The second is that automation applied to an inefficient operation will magnify the inefficiency.” Bill Gates Technology has played a massive role in optimizing inventory management. Examples of companies which stand out are, - Read More -
“Champions know that success is inevitable; that there is no such thing as failure, only feedback. They know that the best way to forecast the future is to create it.” Michael J. Gelb Forecasting and inventory management are intricately related. Any mistakes made by forecasting incorrectly will impact directly on the level of inventory at - Read More -
“Inventory velocity is one of a handful of key performance measures we watch very closely. It focuses us on working with our suppliers to keep reducing inventory and increasing speed.” Michael Dell To understand the importance of inventory management with clarity, we have to understand a key metric, inventory velocity. Simply stated, inventory velocity is - Read More -
“Just-in-time inventory…improves cash flow while its partners bear the brunt of long payment cycles.” Andrew J Lauter Inventory management is a matter which should be of concern to entrepreneurs. However the truth of the matter is much to the contrary. This is an area in which I have made some pretty major mistakes in the - Read More -
“There are always three speeches, for every one you actually gave. The one you practiced, the one you gave, and the one you wish you gave.” Dale Carnegie Presentations are a critical communication medium which entrepreneurs need to be adept at. Good presentation techniques make it easier to get your point across to your team, - Read More -