We know that risk management is an intimidating term that’s typically associated with large multinationals. Most of us can vaguely understand its importance, but find it difficult to apply these principles to SMEs. After all, the relative complexity of many of these large company’s operations means that risks appear to be more difficult to manage – which unlike our own small businesses, warrant a coherent strategy. Nothing could be further from the truth. In the wake of large scale environmental, political, and industry events however, it’s SMEs that are affected the most. Without the resources available to larger enterprises, SMEs must rely on governments and
It’s been a wonderful journey for TradeGecko so far, as we’ve been blessed with tremendous growth not just as a platform, but as a company. And as the company grows, our team has too – in order to ensure we can continue to provide not just the best platform available out there, but also to always remain the user-first company our users have grown to know and love. Today, we’re kicking off a new series of interviews with the team behind TradeGecko – and first up we have our newest Gecko, Gabi Perry, VP of Customer Success. So, who exactly is
One of the best features of cloud-based business software is that users get the benefit of a service that’s constantly improving. Unlike traditional licensing software users, cloud users will always have access to the best and newest technology available. In addition, planning and setting aside cash needed for future technology and system upgrades should become much easier to predict and manage. As your business grows, you can upgrade to a package that best suits your needs. To get the most out of your cloud-based software system however, integrations are key. They can help automate and simplify a wide range of
Walk into any marketplace in Southeast Asia or China and you’ll encounter dozens of stall owners flogging identical watches, T-shirts, and perhaps most notorious of all – knockoff North Face jackets. As you bargain the terms of your purchase, you’ll argue with the shop owner. A stall two aisles down is selling the exact same item for $5 less! “Same same but different!”, the stall owner insists. You’re not convinced, which is fair. Why should you pay more for the same item when this particular stall owner isn’t offering you anything more? Like the stall owner, many online retailers and wholesalers struggle
Customer order management and fulfillment is a major component of successful supply chains – for both large and small businesses alike. With the plethora of communication tools available in the 21st century, it’s no wonder that businesses are dealing with a growing range of communication and transactional challenges. Capgemeni identifies three challenges that modern businesses deal with in order management and fulfillment: 1. An explosion of order and delivery channels 2. The complexity of global supply chains 3. The rising expectations of customers and consumers Technology is a great way for business owners to manage and manoeuvre an increasingly complex business
Historically, the automobile industry has pioneered an impressive number of supply chain innovations. Ford’s assembly line and Toyota’s lean manufacturing technique for instance, were extremely valuable for the development of supply chains in other industries. Given the backlash against fossil fuel guzzling cars, it seemed like the golden age of automobile-inspired innovation was over. Enter Tesla. There are quite a few companies also in the electric vehicle (EV) business, including formidable automobile giants such as Toyota and Ford. Tesla however, stands out as the only EV maker that has truly captured the public’s imagination. Although some of the mystique may have come
Inventory management stockouts of large companies are usually stories that grab headlines quickly. Here are three cases of inventory management failures, what went wrong, and what you can do to avoid the same errors. Best Buy In December 2011, Best Buy issued a statement: “Due to overwhelming demand of hot product offerings on BestBuy.com during the November and December time period, we have encountered a situation that has affected redemption of some of our customers’ online orders. We are very sorry for the inconvenience this has caused, and we have notified the affected customers.” Best Buy’s failure to manage its inventory
Hello again everybody, I hope you’re all as excited for World Lizard day tomorrow as we are. (Also shout out to all the left-hander’s on world left-handers day today :)) As promised here’s this fortnight’s rundown of what’s new in your TradeGecko system. 1. Column Selector One of our most common requests has been to ask for is an extra column here and there on the index pages. Instead of us deciding for you, we’ve added the new column selector to let you choose what details are most important to you. You can now pick and choose columns that show up
Fashion isn’t just all about dressing up and H&M’s supply chain procedures are a testament to that. Globally recognised for being a successful and expansive retail giant in terms of market and financial prosperity, H&M’s supply chain strategy is a continuous search for promising markets, cost-efficiency in production of goods, and reduction in lead times for their retail inventory. H&M, which ranks number three on Gartner’s Supply Chain Top 15, is the world’s second-largest clothing retailer. This is certainly no easy feat for a company that has 950 stores in 19 countries, AND raked in a whopping turnover of 14.6
Following Kellogg’s recent plan to optimize its supply chain infrastructure as part of a four-year plan to save up to $475 million a year by 2018, let’s review and look at how they’ve been handling supply chain issues ever since they started. Similar to what we’ve learnt from exploring the business processes of retail giants such as IKEA and Walmart, we can definitely draw a few important lessons from Kellogg’s supply chain and inventory management. Kellogg’s: An Introduction Kellogg’s is one of the leading companies in providing food items (especially breakfast items and convenience food) to its customers located worldwide.