Inventory Software Steps That Will Maximize Your Inventory Investment While Reducing Your Expenses

You might not think that your business needs to use inventory software, and maybe this is true if you are in the very beginning stages of running a business.

However, once you were truly up and running you would be doing yourself a terrible disservice if you were not putting in place a good inventory management system that would allow you to maximize the way you were doing things.

When a business first gets started or if it is still quite small the business is going to go through a lot of cash. This is usually the make or break time for a lot of businesses.

If they are unable to use cash the right way then they are not going to survive very long. It is getting tougher and tougher to stay in business if one is not able to have cash on hand when they need it.

Seeing as how you are going to need cash on hand all the time you cannot afford to have cash tied up at all. This is going to happen no matter what you do, but there are some areas where you can prevent such problems.

Inventory would be one of them. Using the right inventory management system is just the first step. Making sure you have the right software in place to run it efficiently is the next step.

Your goal is going to be carrying only as much inventory as needed based on customer demand. You might decide to carry a little bit extra for the purpose of bigger discounts from suppliers or to hedge against fluctuations in customer demand.

In any case the goal is going to be finding that sweet spot. You do not want too much, but you also will not want too little.

When things are done thins way it means you will not have to worry about having cash tied up in inventory. Now why is this important. You want to be able to use this money in other areas of the business.

This is really important for any business that is just getting started and having cash on hand will allow you to be prepared for unexpected things.

Inventory software also allows a business to reduce negative cash flow, because it is going to allow a business to keep down inventories.

At least it will allow a business to keep them right where they need to be. Excess inventories can mean doom for certain business, especially if they are not able to eventually move it.

What inventory software is really all about will surprise you because many businesses fail to understand how logistics software can really benefit their organization long term.

For instance, say you want to set up an inventory management system that is not going to consume a lot of your time right? Well if this is the case you cannot have a system that is overly dependent on other people.

You want to know that any and all information you need to ensure your system is effective can be quickly obtained by you.

Even if you have to rely on others you still want to know what information they will need in order to ensure they bring you back the information you need to input into the software.

Inventory software will help you along in this regard. It is designed to help you answer important questions and make needed changes.

It is made so that you are able to control your inventory the way it needs to be so you keep your costs down. In such a competitive business environment you need this.

The investment you might have to make in logistics software is nothing compared to the long term value you will get by using this program daily.

Why a Career As a Software Engineer is Not Sound

I believe the value (or pay) of a person in the market is defined by the following factors:
1) innate qualities
2) knowledge & experience
3) people skills & network

Innate qualities are born with, including appearance, intelligence, personality, etc. And educational background, academic performance, etc, are closely related with one’s innate qualities. But since it’s almost impossible to improve this aspect, it’s useless to say too much about it.

Knowledge & experience, people skills & network are the two aspects that differentiates people’s value (pay). However, a career in IT excels in neither fields on the long term.

The following are my reasons. Now and then, I will refer to the three factors mentioned above.

1 IT is a fast-changing industry by its nature, so in most domains of technology, knowledge is hard to accumulate steadily. A 20-year software engineer is likely the same as a 10-year software engineer in terms of knowledge (but inferior in terms of energy level).

1.1 Some might argue that a good software accumulates a set of knowledge (such as desgin patterns, algorithms, debugging experience) that survives the fast-changing industry, but the fact is that these account only for a very small portion of knowledge required for real projects.

1.2 Also, some might argue that there are domains of technology that changes slower, such as system-level programming (compiler, OS). This is true, and one might be lucky enough to accumulate a huge amount of expertise. But the risk of such a career is still high. Since one is very deep into one technology, once the technology is out-of-date the penalty is severe. This is the nature of technology, it will be out-of-date sooner than many other things such as people skills & network.

1.3 Well, going deep in one technology is risky, then what about going wide in many technologies as a generalist engineer? But rarely are there any projects need such kind of people instead of experts of each individual domain of technology.

2 In addition to the fast-changing nature of the IT industry, limited personal influence also contributes to the low ceiling of the career. A good engineer cannot directly make other people on the team better software engineers, while a good manager can directly make the whole team, divsion, or even the company succeed. With many other careers such as sales, surgeons, traders, the vital difference is that sales, surgeons, traders play a greater role as an individual, while a software project requires a team of 30 to 3000 people.

2.1 Moreover, sales, surgeons, traders also deal with people, that makes them potential people managers in future, while software engineers deal with technology which hardly leads them to people management roles. In fact, most senior managers in IT are not previous software engineers. The point is that software engineers accumulate little in terms of people skills & network.

3 The IT industry is also infamous for its locations. Since the nature of the career requires little interaction with customers, software engineers often have to work in remote locations with lower rent or undeveloped districts with lower pay. The suburban sci-tech parks in China and the outsourcing trend in the U.S. are respective evidence of such claim.

4 Software engineers are not very much respected. The reason could be comprehensive. I personally believe that it is closely related with the low pay growth.

3 Key Processes Of Transportation Management System

Transportation Management Systems are really meant to increase the ROI and efficiency of your logistics company and has become a mandatory element for an effective logistics management. The transportation management system or TMS helps your make your logistics management more organized and accurate.

Transportation Management software are aimed at bringing down the time, cost and improved profit. If the time and cost taken are decreased, then there is no doubt that your profit would sour high. All you need to do is to learn to manage this amazing tool in the right way. If you are not managing TMS in the proper way then you cannot expect your business to improve.

Here I would like to talk about the 3 key processes of a transport management system, which have an influential role towards the success of your logistics business.

1) Planning and Decision Making
Planning and Decision making are the most essential parts of any successful organization and cannot be ignored at any cost. If the planning and decision making are not up to the mark, the business is sure to suffer. There have been many instances when many companies have vanished due to lack of proper planning and decision.

A transportation management solutions helps you to plan your logistics business effectively and categorize your transport schemes accordingly based on the importance as per user policy. Some of the major things that plays vital role in proper planning and decision making are transport cost, shorter lead-time, fewer stops, flows regrouping coefficient etc.

The TMS systems is also known as logistics management system and helps you to calculate your transportation cost and adjust your routes so as to experience a decrease in the transportation cost. It helps you to find out which routes yields you better profit margin and which are the stops that needs to be avoided without harming your profit ratio.

In the end the report generating facility offered by this vehicle management system helps you to analyze your logistics management in a much better way. You can even change the scheduling and routing of your vehicles for better results. The report helps you to plan better and make decisions based on that.

2) Customer follow-up
TMS helps you to experience a better customer relationship and follow up due to its enhanced features. One of the advanced feature that makes the tool stand out is the GPS vehicle tracking facility, which helps you to track your vehicle with the help of satellites. With this you would be able to inform your customers as where the vehicle is and when their goods would be delivered. It also helps in effective billing, accurate report generation, documentation etc, which makes your customers happy and satisfied.

3) Measurement
A transportation management system offers you a detailed and customized analytics report which would help you to understand your business in a much better way. The report would help you to find out the areas that needs improvements and also help where you stand when compared with the previous months. Certain reports helps you to drill down more deeper so as to get a better assessment regarding your vehicle routing software.