To be paid or not to be paid. That is the question. The debates are fierce in regards to internship compensation. Some consider since interns are learning they are not contributing value to the bottom line but that all depends on the company’s internship program. For example, lets say company ABC prides itself on aContinue reading “The Paid vs Unpaid Internship Conundrum”
Category Archives: Business
Lean Wednesday Tip
“Did you know that if your company leases its space from a multiple office building you can have your key financial representative analyze how utility charges are distributed amongst all tenants. This can help you realize savings and offer a negotiation opportunity based on your company’s utility use.”
On-boarding Employees: Where are the supplies?
 Onboarding a new hire is stressful enough. Paperwork needs to be done, work area needs to be set up, et cetera. But no one remembers about supplies. Utilizing Lean Six Sigma methods and tools like 5S, visual management and Kanban to remove office waste is a great way to have a supplies inventory system thatContinue reading “On-boarding Employees: Where are the supplies?”
Continuous Budgeting & The What Ifs
It is always good to be prepared. In business being unprepared for the unexpected could lead to loss of clients, reduced profits, damaged reputation, et cetera. Small business are not exempt from this either. Budgets and Forecasts need to include a reserve for the What ifs, such as, what if the office gets flooded?, whatContinue reading “Continuous Budgeting & The What Ifs”
The Customers that HATE you bring in the most valuable insights
 When utilizing the Voice of the Customer to glean insights don’t just target the customers that love you. When you take the time to really listen to the customers that hate you and turn their pains into solutions that is when you actually drive growth for your company. Why target customers that hate you, youContinue reading “The Customers that HATE you bring in the most valuable insights”
Bringing Collaboration Into Business Strategy
 Companies that encourage collaboration of data from all departmental functions see improved forecasting and internal/external client data that can be used to achieve strategic goals. Sales, Marketing, Accounting, Production, and Procurement departments should be encourage to share data through cloud productivity solutions like Google Docs/Sheets. However, this plethora of information can cause delays in decisionContinue reading “Bringing Collaboration Into Business Strategy”
Price focused Sourcing is bad for business
We live in a capitalist society. It’s understandable that companies want the best prices on supplies and materials to make their products or provide a service. When your procurement team is only motivated by price instead of the total cost, quality, delivery and logistics is lost. For example, your Procurement Manager may think, “Hey, weContinue reading “Price focused Sourcing is bad for business”
Top 7 Tips for a Sustainable Supply Chain
1) Encourage suppliers and clients to re-use containers/boxes 2) Decrease lot sizes 3) Actively share demand forecast and inventory data with suppliers to ensure efficient purchasing and timely inventory replenishment 4) Develop a quality plan and actively (Quarterly checks) ensure supplier is meeting quality requirements by conducting an on-site visit 5) Use total cost methodContinue reading “Top 7 Tips for a Sustainable Supply Chain”
Talent Management: The Evergreen Learning Culture
 Great employees want to be challenged and learn new things. To increase employee retention and overall workplace satisfaction rates Human Resources must stay abreast of individual skills, learning capabilities, and industry skill trends. They should also encourage Managers/Supervisors to offer opportunities​ that allow employees to further enhance their skills, learn valuable new skills, or pursueContinue reading “Talent Management: The Evergreen Learning Culture”
Client Retention as part of the Collections Process
 Departmental collaboration is greatly important in the Collections/Billing department. This team must have access to project /product status, project/product delivery and results; this will allow the Lead person handling the over-due account to develop an understanding of the situation, survey the client to ensure requirements were met and if they were not met deliver thisContinue reading “Client Retention as part of the Collections Process”
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