Inventory management can be a boom for the business but can turn into a curse if not managed properly. So with an effective management tool like SalesBabu purchase and inventory CRM, we need to strike a balance to maintain the optimal amount of stock in our warehouses.
Ppt top challenges in crm implementationSalesBabuCRM
CRM is specially designed to maintain a healthy relationship with the customers. The sales end is the one that enjoys most of the benefits of CRM software. CRM software acts as a hub to provide benefits to the various departments in a company such as the marketing team, sales team, and customer support teams.
Few reasons why your business must opt for a cloud-based CRM solution?SalesBabuCRM
The cloud-based CRM software can be accessed through a web browser. Using the software as a service model the CRM will be provided to the customers based on the cloud platform. Using the infrastructure as a service model the cloud CRM is installed directly on the cloud. In an on-premise method of installing the cloud-based software, it is directly installed on the company’s owned server.
5 inventory reduction strategies for a more profitable businessSalesBabuCRM
A cloud-based inventory management system like SalesBabuCRM is the best fit for any inventory tracking tool. It can help you to know your reorder timelines, streamline your stock intake, reduce your lead time, and deliver accurate metrics for better demand forecasting.
CRM for Pharmaceutical Industry | SalesBabu CRMSalesBabuCRM
Pharmaceutical CRM is a robust tool which always focuses on basic requirements of a Pharmaceutical companies and their operational work pattern. CRM can manage & synchronize entire sales business along with the tracking of product awareness among doctors. Pharmaceutical CRM can reduce the complexity of product sampling with stockiest, chemists.
Reduce operational cost with inventory management systemSalesBabuCRM
SalesBabu Inventory on- Demand software, helps companies to automate inventory workflow on one platform without any manual data punching and additional system requirement & system cost. SalesBabu Inventory On- Demand allow companies to manage lucrative information on single platform.
Crm in manufacturing industry get closer to your customersSalesBabuCRM
SalesBabu CRM enables the companies to receive automatic reminders & prediction on customer demands related to that particular product in which you are serving to the customers. So that you can easily schedule the production floor work load against the most demanded product from your multi bucket.
5 inventory reduction strategies for a more profitable businessSalesBabuCRM
A cloud-based inventory management system like SalesBabuCRM is the best fit for any inventory tracking tool. It can help you to know your reorder timelines, streamline your stock intake, reduce your lead time, and deliver accurate metrics for better demand forecasting.
What is an invoice definition, meaning and more SalesBabuCRM
An invoice is a commercial document that itemizes and records the transaction of products or services between the seller and the buyer. An invoice is known as a professional way of asking for money. If the goods or services were purchased on credit, the invoice specifies the terms of the deal and provides the information on the available payment.
Ppt top challenges in crm implementationSalesBabuCRM
CRM is specially designed to maintain a healthy relationship with the customers. The sales end is the one that enjoys most of the benefits of CRM software. CRM software acts as a hub to provide benefits to the various departments in a company such as the marketing team, sales team, and customer support teams.
Few reasons why your business must opt for a cloud-based CRM solution?SalesBabuCRM
The cloud-based CRM software can be accessed through a web browser. Using the software as a service model the CRM will be provided to the customers based on the cloud platform. Using the infrastructure as a service model the cloud CRM is installed directly on the cloud. In an on-premise method of installing the cloud-based software, it is directly installed on the company’s owned server.
5 inventory reduction strategies for a more profitable businessSalesBabuCRM
A cloud-based inventory management system like SalesBabuCRM is the best fit for any inventory tracking tool. It can help you to know your reorder timelines, streamline your stock intake, reduce your lead time, and deliver accurate metrics for better demand forecasting.
CRM for Pharmaceutical Industry | SalesBabu CRMSalesBabuCRM
Pharmaceutical CRM is a robust tool which always focuses on basic requirements of a Pharmaceutical companies and their operational work pattern. CRM can manage & synchronize entire sales business along with the tracking of product awareness among doctors. Pharmaceutical CRM can reduce the complexity of product sampling with stockiest, chemists.
Reduce operational cost with inventory management systemSalesBabuCRM
SalesBabu Inventory on- Demand software, helps companies to automate inventory workflow on one platform without any manual data punching and additional system requirement & system cost. SalesBabu Inventory On- Demand allow companies to manage lucrative information on single platform.
Crm in manufacturing industry get closer to your customersSalesBabuCRM
SalesBabu CRM enables the companies to receive automatic reminders & prediction on customer demands related to that particular product in which you are serving to the customers. So that you can easily schedule the production floor work load against the most demanded product from your multi bucket.
5 inventory reduction strategies for a more profitable businessSalesBabuCRM
A cloud-based inventory management system like SalesBabuCRM is the best fit for any inventory tracking tool. It can help you to know your reorder timelines, streamline your stock intake, reduce your lead time, and deliver accurate metrics for better demand forecasting.
What is an invoice definition, meaning and more SalesBabuCRM
An invoice is a commercial document that itemizes and records the transaction of products or services between the seller and the buyer. An invoice is known as a professional way of asking for money. If the goods or services were purchased on credit, the invoice specifies the terms of the deal and provides the information on the available payment.
Can your business survive without a proposal software SalesBabuCRM
With the Sales Quoting module (Business Quotation Maker) in SalesBabu CRM software, it empowers you to prepare an effective, professional quote for your customers’ consideration, complete with rich content and full technical specifications. It’s simple to add cross-sell and up-sell suggestions to maximize your potential sell-through.
What is Purchase Order? Definition, Meaning, Creation and PresentationSalesBabuCRM
A Purchase Order (PO) is a buyer generated document that authorizes the purchase transaction. When the purchase is accepted by the seller, it becomes a contract binding both parties.
CRM software can track all your customer contact details, list products and services they are interested in, record sales quotations and final sales order details and many more functionalities to help you manage your business.
What is invoice definition, meaning and more..SalesBabuCRM
An invoice is a commercial document that itemizes and records the transaction of products or services between the seller and the buyer. An invoice is known as a professional way of asking for money. If the goods or services were purchased on credit, the invoice specifies the terms of the deal and provides the information on the available payment.
Online crm for sales & distributionSalesBabuCRM
SalesBabu CRM for Sales & Distribution can create an effective communication bridge and control communication Gap between Primary and Secondary root of your Sales Tree. Now it is so easy to retain, manage and increase your sales in terms of Channels and End product users rather than Traditional approach.
Switch from old traditional ways to new one to improve salesSalesBabuCRM
Are you struggling for more sales? Sales is one of those challenging tasks at business as you need to focus on systematic sales rather than sounding too salesy. And we are in an era where technology has acquired a major role in the market or society.
Improve your productivity for overall improvement of organisationSalesBabuCRM
Providing the right tool at the right time can do wonders for your organisation. Put your energy and efforts in the right direction to take your productivity to the next level. Cloud Based CRM software helps you to make your work easier and keeps you updated about sales orders, new opportunities, sales calls, meetings and appointments etc.
How to become the better customers resourceSalesBabuCRM
Customers are important for every organization. Customer satisfaction increase your long term relations. Loyal customers are familiar with your company and brands. Feedback is also important for every company to know where they need to improve.
Improve your productivity for overall improvement of organisationSalesBabuCRM
Providing the right tool at the right time can do wonders for your organisation. Put your energy and efforts in the right direction to take your productivity to the next level. Cloud Based CRM software helps you to make your work easier and keeps you updated about sales orders, new opportunities, sales calls, meetings and appointments etc.
Sales have never been easy without sales tracking appSalesBabuCRM
SalesBabu CRM is one of the most trusted Sales Tracking CRM Software that facilitates you to have a clear vision of Sales Pipeline, Nurtured Leads and Qualified Prospects. You can have information on fingertips to use anywhere anytime about what is going on in your Sales Processes.
How to protect your small business from cyber attackSalesBabuCRM
Cyber attack can cause major damage to your business and affect the entire management of the business level. Firstly, you need to take measures to protect your business data irrespective of the size of your organisation. Unfortunately, if you are prone to cyber attack follow these measures..
Data privacy how do you protect and delete data in the cloudSalesBabuCRM
The first step for data protection is to make sure that individuals and businesses outside of your organization can’t get access to your customer data. In today’s world, we have the option of keeping our CRM customer data in the cloud. With the level of security in a cloud based CRM solution, all your customer data is well secured and backed up using these cloud based security measures.
Create sales quotes faster and easily streamline your sales cycle and increase deal velocity with our CRM quotation software for small and large businesses. SalesBabu CRM Quote Software System combines both an intuitive user experience with an extensible platform serving the needs of businesses of all sizes.
Expense management (EM) refers to the policies set up by an organization to process, pay, and audit expenses initiated by an employee. These expenses include, but are not limited to, the amount incurred for entertainment and travel. Expense management includes the procedures and guidelines that govern such spending, also the services and technologies applied to process and analyze the data associated with it.
CRM for Manufacturing Industry allows you to streamline the day-to-day processes in a manufacturing set up. With this great tool you can earn the confidence vote of the customers.
Online sales quoting & proposal softwareSalesBabuCRM
With the Sales Quoting module (Business Quotation Maker) in SalesBabu CRM software, it empowers you to prepare an effective, professional quote for your customers’ consideration, complete with rich content and full technical specifications. It’s simple to add cross-sell and up-sell suggestions to maximize your potential sell-through.
What is a sales lead tracker software and how does it work SalesBabuCRM
SalesBabu CRM’s powerful Sales Lead Tracking software provides you an efficient sales management solution that makes it easy for marketing and sales to manage leads and opportunities by keeping track of all sales leads, which will help to increase the sale of your business.
Expense management (EM) refers to the policies set up by an organization to process, pay, and audit expenses initiated by an employee. These expenses include, but are not limited to, the amount incurred for entertainment and travel. Expense management includes the procedures and guidelines that govern such spending, also the services and technologies applied to process and analyze the data associated with it.
Online sales quoting & proposal softwareSalesBabuCRM
With the Sales Quoting module (Business Quotation Maker) in SalesBabu CRM software, it empowers you to prepare an effective, professional quote for your customers’ consideration, complete with rich content and full technical specifications. It’s simple to add cross-sell and up-sell suggestions to maximize your potential sell-through.
As inventory management system has become more of a necessity for businesses and it is being widely used in a variety of industries from manufacturing to utilities, healthcare, education, government, and more.
Discover the innovative and creative projects that highlight my journey throu...dylandmeas
Discover the innovative and creative projects that highlight my journey through Full Sail University. Below, you’ll find a collection of my work showcasing my skills and expertise in digital marketing, event planning, and media production.
Can your business survive without a proposal software SalesBabuCRM
With the Sales Quoting module (Business Quotation Maker) in SalesBabu CRM software, it empowers you to prepare an effective, professional quote for your customers’ consideration, complete with rich content and full technical specifications. It’s simple to add cross-sell and up-sell suggestions to maximize your potential sell-through.
What is Purchase Order? Definition, Meaning, Creation and PresentationSalesBabuCRM
A Purchase Order (PO) is a buyer generated document that authorizes the purchase transaction. When the purchase is accepted by the seller, it becomes a contract binding both parties.
CRM software can track all your customer contact details, list products and services they are interested in, record sales quotations and final sales order details and many more functionalities to help you manage your business.
What is invoice definition, meaning and more..SalesBabuCRM
An invoice is a commercial document that itemizes and records the transaction of products or services between the seller and the buyer. An invoice is known as a professional way of asking for money. If the goods or services were purchased on credit, the invoice specifies the terms of the deal and provides the information on the available payment.
Online crm for sales & distributionSalesBabuCRM
SalesBabu CRM for Sales & Distribution can create an effective communication bridge and control communication Gap between Primary and Secondary root of your Sales Tree. Now it is so easy to retain, manage and increase your sales in terms of Channels and End product users rather than Traditional approach.
Switch from old traditional ways to new one to improve salesSalesBabuCRM
Are you struggling for more sales? Sales is one of those challenging tasks at business as you need to focus on systematic sales rather than sounding too salesy. And we are in an era where technology has acquired a major role in the market or society.
Improve your productivity for overall improvement of organisationSalesBabuCRM
Providing the right tool at the right time can do wonders for your organisation. Put your energy and efforts in the right direction to take your productivity to the next level. Cloud Based CRM software helps you to make your work easier and keeps you updated about sales orders, new opportunities, sales calls, meetings and appointments etc.
How to become the better customers resourceSalesBabuCRM
Customers are important for every organization. Customer satisfaction increase your long term relations. Loyal customers are familiar with your company and brands. Feedback is also important for every company to know where they need to improve.
Improve your productivity for overall improvement of organisationSalesBabuCRM
Providing the right tool at the right time can do wonders for your organisation. Put your energy and efforts in the right direction to take your productivity to the next level. Cloud Based CRM software helps you to make your work easier and keeps you updated about sales orders, new opportunities, sales calls, meetings and appointments etc.
Sales have never been easy without sales tracking appSalesBabuCRM
SalesBabu CRM is one of the most trusted Sales Tracking CRM Software that facilitates you to have a clear vision of Sales Pipeline, Nurtured Leads and Qualified Prospects. You can have information on fingertips to use anywhere anytime about what is going on in your Sales Processes.
How to protect your small business from cyber attackSalesBabuCRM
Cyber attack can cause major damage to your business and affect the entire management of the business level. Firstly, you need to take measures to protect your business data irrespective of the size of your organisation. Unfortunately, if you are prone to cyber attack follow these measures..
Data privacy how do you protect and delete data in the cloudSalesBabuCRM
The first step for data protection is to make sure that individuals and businesses outside of your organization can’t get access to your customer data. In today’s world, we have the option of keeping our CRM customer data in the cloud. With the level of security in a cloud based CRM solution, all your customer data is well secured and backed up using these cloud based security measures.
Create sales quotes faster and easily streamline your sales cycle and increase deal velocity with our CRM quotation software for small and large businesses. SalesBabu CRM Quote Software System combines both an intuitive user experience with an extensible platform serving the needs of businesses of all sizes.
Expense management (EM) refers to the policies set up by an organization to process, pay, and audit expenses initiated by an employee. These expenses include, but are not limited to, the amount incurred for entertainment and travel. Expense management includes the procedures and guidelines that govern such spending, also the services and technologies applied to process and analyze the data associated with it.
CRM for Manufacturing Industry allows you to streamline the day-to-day processes in a manufacturing set up. With this great tool you can earn the confidence vote of the customers.
Online sales quoting & proposal softwareSalesBabuCRM
With the Sales Quoting module (Business Quotation Maker) in SalesBabu CRM software, it empowers you to prepare an effective, professional quote for your customers’ consideration, complete with rich content and full technical specifications. It’s simple to add cross-sell and up-sell suggestions to maximize your potential sell-through.
What is a sales lead tracker software and how does it work SalesBabuCRM
SalesBabu CRM’s powerful Sales Lead Tracking software provides you an efficient sales management solution that makes it easy for marketing and sales to manage leads and opportunities by keeping track of all sales leads, which will help to increase the sale of your business.
Expense management (EM) refers to the policies set up by an organization to process, pay, and audit expenses initiated by an employee. These expenses include, but are not limited to, the amount incurred for entertainment and travel. Expense management includes the procedures and guidelines that govern such spending, also the services and technologies applied to process and analyze the data associated with it.
Online sales quoting & proposal softwareSalesBabuCRM
With the Sales Quoting module (Business Quotation Maker) in SalesBabu CRM software, it empowers you to prepare an effective, professional quote for your customers’ consideration, complete with rich content and full technical specifications. It’s simple to add cross-sell and up-sell suggestions to maximize your potential sell-through.
As inventory management system has become more of a necessity for businesses and it is being widely used in a variety of industries from manufacturing to utilities, healthcare, education, government, and more.
Discover the innovative and creative projects that highlight my journey throu...dylandmeas
Discover the innovative and creative projects that highlight my journey through Full Sail University. Below, you’ll find a collection of my work showcasing my skills and expertise in digital marketing, event planning, and media production.
Memorandum Of Association Constitution of Company.pptseri bangash
www.seribangash.com
A Memorandum of Association (MOA) is a legal document that outlines the fundamental principles and objectives upon which a company operates. It serves as the company's charter or constitution and defines the scope of its activities. Here's a detailed note on the MOA:
Contents of Memorandum of Association:
Name Clause: This clause states the name of the company, which should end with words like "Limited" or "Ltd." for a public limited company and "Private Limited" or "Pvt. Ltd." for a private limited company.
https://seribangash.com/article-of-association-is-legal-doc-of-company/
Registered Office Clause: It specifies the location where the company's registered office is situated. This office is where all official communications and notices are sent.
Objective Clause: This clause delineates the main objectives for which the company is formed. It's important to define these objectives clearly, as the company cannot undertake activities beyond those mentioned in this clause.
www.seribangash.com
Liability Clause: It outlines the extent of liability of the company's members. In the case of companies limited by shares, the liability of members is limited to the amount unpaid on their shares. For companies limited by guarantee, members' liability is limited to the amount they undertake to contribute if the company is wound up.
https://seribangash.com/promotors-is-person-conceived-formation-company/
Capital Clause: This clause specifies the authorized capital of the company, i.e., the maximum amount of share capital the company is authorized to issue. It also mentions the division of this capital into shares and their respective nominal value.
Association Clause: It simply states that the subscribers wish to form a company and agree to become members of it, in accordance with the terms of the MOA.
Importance of Memorandum of Association:
Legal Requirement: The MOA is a legal requirement for the formation of a company. It must be filed with the Registrar of Companies during the incorporation process.
Constitutional Document: It serves as the company's constitutional document, defining its scope, powers, and limitations.
Protection of Members: It protects the interests of the company's members by clearly defining the objectives and limiting their liability.
External Communication: It provides clarity to external parties, such as investors, creditors, and regulatory authorities, regarding the company's objectives and powers.
https://seribangash.com/difference-public-and-private-company-law/
Binding Authority: The company and its members are bound by the provisions of the MOA. Any action taken beyond its scope may be considered ultra vires (beyond the powers) of the company and therefore void.
Amendment of MOA:
While the MOA lays down the company's fundamental principles, it is not entirely immutable. It can be amended, but only under specific circumstances and in compliance with legal procedures. Amendments typically require shareholder
Business Valuation Principles for EntrepreneursBen Wann
This insightful presentation is designed to equip entrepreneurs with the essential knowledge and tools needed to accurately value their businesses. Understanding business valuation is crucial for making informed decisions, whether you're seeking investment, planning to sell, or simply want to gauge your company's worth.
Unveiling the Secrets How Does Generative AI Work.pdfSam H
At its core, generative artificial intelligence relies on the concept of generative models, which serve as engines that churn out entirely new data resembling their training data. It is like a sculptor who has studied so many forms found in nature and then uses this knowledge to create sculptures from his imagination that have never been seen before anywhere else. If taken to cyberspace, gans work almost the same way.
Premium MEAN Stack Development Solutions for Modern BusinessesSynapseIndia
Stay ahead of the curve with our premium MEAN Stack Development Solutions. Our expert developers utilize MongoDB, Express.js, AngularJS, and Node.js to create modern and responsive web applications. Trust us for cutting-edge solutions that drive your business growth and success.
Know more: https://www.synapseindia.com/technology/mean-stack-development-company.html
VAT Registration Outlined In UAE: Benefits and Requirementsuae taxgpt
Vat Registration is a legal obligation for businesses meeting the threshold requirement, helping companies avoid fines and ramifications. Contact now!
https://viralsocialtrends.com/vat-registration-outlined-in-uae/
Putting the SPARK into Virtual Training.pptxCynthia Clay
This 60-minute webinar, sponsored by Adobe, was delivered for the Training Mag Network. It explored the five elements of SPARK: Storytelling, Purpose, Action, Relationships, and Kudos. Knowing how to tell a well-structured story is key to building long-term memory. Stating a clear purpose that doesn't take away from the discovery learning process is critical. Ensuring that people move from theory to practical application is imperative. Creating strong social learning is the key to commitment and engagement. Validating and affirming participants' comments is the way to create a positive learning environment.
Buy Verified PayPal Account | Buy Google 5 Star Reviewsusawebmarket
Buy Verified PayPal Account
Looking to buy verified PayPal accounts? Discover 7 expert tips for safely purchasing a verified PayPal account in 2024. Ensure security and reliability for your transactions.
PayPal Services Features-
🟢 Email Access
🟢 Bank Added
🟢 Card Verified
🟢 Full SSN Provided
🟢 Phone Number Access
🟢 Driving License Copy
🟢 Fasted Delivery
Client Satisfaction is Our First priority. Our services is very appropriate to buy. We assume that the first-rate way to purchase our offerings is to order on the website. If you have any worry in our cooperation usually You can order us on Skype or Telegram.
24/7 Hours Reply/Please Contact
usawebmarketEmail: support@usawebmarket.com
Skype: usawebmarket
Telegram: @usawebmarket
WhatsApp: +1(218) 203-5951
USA WEB MARKET is the Best Verified PayPal, Payoneer, Cash App, Skrill, Neteller, Stripe Account and SEO, SMM Service provider.100%Satisfection granted.100% replacement Granted.
"𝑩𝑬𝑮𝑼𝑵 𝑾𝑰𝑻𝑯 𝑻𝑱 𝑰𝑺 𝑯𝑨𝑳𝑭 𝑫𝑶𝑵𝑬"
𝐓𝐉 𝐂𝐨𝐦𝐬 (𝐓𝐉 𝐂𝐨𝐦𝐦𝐮𝐧𝐢𝐜𝐚𝐭𝐢𝐨𝐧𝐬) is a professional event agency that includes experts in the event-organizing market in Vietnam, Korea, and ASEAN countries. We provide unlimited types of events from Music concerts, Fan meetings, and Culture festivals to Corporate events, Internal company events, Golf tournaments, MICE events, and Exhibitions.
𝐓𝐉 𝐂𝐨𝐦𝐬 provides unlimited package services including such as Event organizing, Event planning, Event production, Manpower, PR marketing, Design 2D/3D, VIP protocols, Interpreter agency, etc.
Sports events - Golf competitions/billiards competitions/company sports events: dynamic and challenging
⭐ 𝐅𝐞𝐚𝐭𝐮𝐫𝐞𝐝 𝐩𝐫𝐨𝐣𝐞𝐜𝐭𝐬:
➢ 2024 BAEKHYUN [Lonsdaleite] IN HO CHI MINH
➢ SUPER JUNIOR-L.S.S. THE SHOW : Th3ee Guys in HO CHI MINH
➢FreenBecky 1st Fan Meeting in Vietnam
➢CHILDREN ART EXHIBITION 2024: BEYOND BARRIERS
➢ WOW K-Music Festival 2023
➢ Winner [CROSS] Tour in HCM
➢ Super Show 9 in HCM with Super Junior
➢ HCMC - Gyeongsangbuk-do Culture and Tourism Festival
➢ Korean Vietnam Partnership - Fair with LG
➢ Korean President visits Samsung Electronics R&D Center
➢ Vietnam Food Expo with Lotte Wellfood
"𝐄𝐯𝐞𝐫𝐲 𝐞𝐯𝐞𝐧𝐭 𝐢𝐬 𝐚 𝐬𝐭𝐨𝐫𝐲, 𝐚 𝐬𝐩𝐞𝐜𝐢𝐚𝐥 𝐣𝐨𝐮𝐫𝐧𝐞𝐲. 𝐖𝐞 𝐚𝐥𝐰𝐚𝐲𝐬 𝐛𝐞𝐥𝐢𝐞𝐯𝐞 𝐭𝐡𝐚𝐭 𝐬𝐡𝐨𝐫𝐭𝐥𝐲 𝐲𝐨𝐮 𝐰𝐢𝐥𝐥 𝐛𝐞 𝐚 𝐩𝐚𝐫𝐭 𝐨𝐟 𝐨𝐮𝐫 𝐬𝐭𝐨𝐫𝐢𝐞𝐬."
Digital Transformation and IT Strategy Toolkit and TemplatesAurelien Domont, MBA
This Digital Transformation and IT Strategy Toolkit was created by ex-McKinsey, Deloitte and BCG Management Consultants, after more than 5,000 hours of work. It is considered the world's best & most comprehensive Digital Transformation and IT Strategy Toolkit. It includes all the Frameworks, Best Practices & Templates required to successfully undertake the Digital Transformation of your organization and define a robust IT Strategy.
Editable Toolkit to help you reuse our content: 700 Powerpoint slides | 35 Excel sheets | 84 minutes of Video training
This PowerPoint presentation is only a small preview of our Toolkits. For more details, visit www.domontconsulting.com
LA HUG - Video Testimonials with Chynna Morgan - June 2024Lital Barkan
Have you ever heard that user-generated content or video testimonials can take your brand to the next level? We will explore how you can effectively use video testimonials to leverage and boost your sales, content strategy, and increase your CRM data.🤯
We will dig deeper into:
1. How to capture video testimonials that convert from your audience 🎥
2. How to leverage your testimonials to boost your sales 💲
3. How you can capture more CRM data to understand your audience better through video testimonials. 📊
Kseniya Leshchenko: Shared development support service model as the way to ma...Lviv Startup Club
Kseniya Leshchenko: Shared development support service model as the way to make small projects with small budgets profitable for the company (UA)
Kyiv PMDay 2024 Summer
Website – www.pmday.org
Youtube – https://www.youtube.com/startuplviv
FB – https://www.facebook.com/pmdayconference
2. High Inventory Levels:
Overcoming the Challenge
Many businesses fall in the pray of adding more finished
goods inventory, purchasing large quantities of raw
materials and run large order quantities, which results in
large quantities of in stock inventories. These large
inventories have devastating effects on the investment
costs, business margins, and often on customer
satisfaction.
Instead of lowering costs, raising customer satisfaction and
improving profits, answers for the above questions can
often lead to obsolete stock, high production cost and
reduced profits.
In real time scenarios, these material costs represent
around 75% of the total business cost. Hence, in order to
achieve success in a manufacturing business, we need to
manage our inventory with utmost criticality.
M: +91 9611 171 345 Email: sales@salesbabu.com
3. What is High Inventory level?
M: +91 9611 171 345 Email: sales@salesbabu.com
Having high inventory levels in your warehouses generally means your company is struggling to manage its
inventory and make proper sales. Inventory is the main source of our revenue, so it is essential to make smart
decisions about how much inventory we have, how much safety stocks we should store in our warehouses,
and how much we need to reorder to balance our demand supply chain.
4. Pros of holding excess inventory
M: +91 9611 171 345 Email: sales@salesbabu.com
■ Quick response time
While comparing high inventory stocks and out of stock situations in peak customer demand times, obviously
out of stock situations are definitely worst. In today’s world of a competitive market, if we don’t satisfy our
customer requirement quickly, we will lose them to our competitors. Having high stocked warehouse
definitely facilitates quick response to market requirements and avoid any waiting time due to shipment
delays.
■ Decreased risk of shortages
Updated stocks in hand, help you to satisfy your customer requirements even if the products are discontinued
or out of stock at the movement. Also, in cases of demand shifts and out of stock competitors, we can meet
the demands of the customers by providing our stocked products and give promotional offers to improve our
customer relationships and increase sales.
5. Pros of holding excess inventory continues...
M: +91 9611 171 345 Email: sales@salesbabu.com
■ Protection Against Order Delays
Many business loose long term customer due to delay in supply from natural calamities and delayed
shipments. In the peak demand times, we can supply our excess stock to the customers and gain their trust
for a long term business relationship. In some cases, suppliers are delayed due to factors beyond their
control and excess stocks help us to continue our business production without any delays and customer
distress.
6. Cons of holding excess inventory
M: +91 9611 171 345 Email: sales@salesbabu.com
■ Restricted Cash flow
The amount of inventory we have in our stock is directly proportional to the amount of business capital we
have. With huge stocked up warehouses, our business cash flow also gets restricted and we have less
money to invest on the new stocks and other business requirements.
■ Risk of inventory becoming obsolete
In the current era of online shopping and constantly changing trends, the value and quality of products
decrease the longer they are stocked up in the warehouses. With fast changing technology and customer
requirements, products like smartphones and gadgets become outdated in every six months basis. We need
to make sure we sell our perishable and fast moving products at the earliest to avoid any losses for the
organisation. If any product is outdated and we have many unsold items, we might end up selling these
excess products at lower prices than the produced one and incur a huge loss for the firm.
7. Cons of holding excess inventory continues...
M: +91 9611 171 345 Email: sales@salesbabu.com
■ Risk of item not selling
With the huge amount of stocks in hand, we increase the risk of misjudging the demand of the product in the
near future and end up having the products not sold at all and keep it for next season or forever due to no
market demands. This causes huge investment losses to the firm.
■ Higher storage and maintenance cost
Huge stock means massive storage space and huge insurance along with a larger amount of manpower and
warehouse maintenance cost. This also increases the overall price of the product which will again reduce our
sales and incur a loss for the business.
With huge investment on maintenance and procurement of the products, the firm usually increases the cost
of the product which ends up losing the market value to its competitors because the price of products will be
high in comparison to other sellers. Also, labour cost involved along with warehouse maintenance, electricity
charges, security and other changes increases the expenditures of the organisation for the upkeep of the
huge amount of inventory stocks.
8. How can you keep the perfect inventory balance?
M: +91 9611 171 345 Email: sales@salesbabu.com
Supplier lead-time reduction
Higher lead times from the suppliers are one of the major reasons for delay in product delivery, which causes
businesses to stock up the safety stock to avoid delay in production.
As businesses, we need to negotiate for a faster lead time from the suppliers to make sure both the inventory
level and transportation costs are minimised.
Effective planning of current stock usage and reordering should be done to effectively reduce the overall cost
of procuring and storing the inventory for the production cycle. Many effective ways of inventory ordering like
partial and staged orders, strict cycles of inventory at the same time in each month, just in time ordering and
many other ways can be implemented to improve the lead time of the items.
9. How can you keep the perfect inventory balance continues...
M: +91 9611 171 345 Email: sales@salesbabu.com
Eliminating obsolete inventory
Obsolete stock items are the products that are stored in the warehouses but do not have any current
customer demand. Reducing these obsolete stocks is very critical for business growth. Removing the old
stock may sound quite simple but isn’t always done effectively. Inventory prioritisation methods help in selling
high quantities of obsolete items first by rotating old stock.
Obsolete items usually occur when newer product launches of an item or new releases of the products are
launched in the market and customer demand changes the market demands for the old products. As efficient
business planning, an organizations should make futuristics plans and understand the market trends before
ordering any particular item.
Dynamically tracking demand patterns helps in demand forecasting and understanding the market trends and
customer demands before procuring any particular item. Also, promotional offers and discounts on the old
stock will help to clear out old stocks and free up the working capital to be invested in new stocks. Also, the
holding cost and maintenance of the warehouses can be considerably reduced with regular movement of old
and obsolete stocks and make space for fresh and more demanded products.
10. How can you keep the perfect inventory balance continues..
M: +91 9611 171 345 Email: sales@salesbabu.com
Optimizing order size and purchasing frequency
Accurate demand forecasting and just in time orders can help in ordering the approximate amount of inventory
needed for production and keeping minimum safety stocks at the same time avoiding any excess inventory
orders. Reduced Minimum Order Quantities (MOQs) methods can be implemented so that smaller, more
frequent orders can be done instead of storing a large amount of inventories in the warehouses. Frequent and
smaller orders allow organizations to increase ordering flexibly in cases of demand shifts for products.
11. How can you keep the perfect inventory balance continues...
M: +91 9611 171 345 Email: sales@salesbabu.com
Centralizing inventory control
With the help of centralised control of inventory through stock maintenance software like SalesBabuCRM, a
cloud based database can be maintained to keep a track of every inventory coming in and moving out of the
warehouses. Also, various metrics and stats generated can help to forecast customer shopping trends and
product to maintain transparency in ordering and maintaining appropriate safety stocks.
Continuous inventory reduction analysis
SalesBabuCRM software helps to generate various analysis to create metrics in understanding the shopping
trends and market demand which help in forecasting product requirement. With these proactive measures,
proper ordering and product rotation methods can be implemented to reduce overall Inventory levels and
storage cost for the business.
12. Conclusion
M: +91 9611 171 345 Email: sales@salesbabu.com
Inventory management can be a boom for the business but can turn into a curse if not managed properly. So
with an effective management tool like SalesBabu purchase and inventory CRM, we need to strike a balance
to maintain the optimal amount of stock in our warehouses.