Home / Author Archives: Jay Schofield (page 10)

Author Archives: Jay Schofield

What is a Barcode Scaner and How Does it Work?

iStock_000018557395

Barcodes have helped retailers pack information, such as pricing and available inventory, onto their wares to move things along at the check-out counter, for decades. The barcode scanning systems are now being used in a myriad of industries, including medicine, travel, manufacturing, entertainment, law, and many other enterprises you might never expect (including death care). Barcodes and dedicated barcode scanners ... Read More »

6 Simple Supply Chain Strategies That Will Cut Costs

chainsfinished

These tips will help businesses optimize and reduce unnecessary costs along their supply chain in order to build a more efficient model. The supply chain is the network of independent but interconnected businesses and parties involved in producing, handling and distributing a product, from its genesis as raw materials from a supplier to its delivery to the customer. While many ... Read More »

What Do You Need to Know: Asset or Inventory

iStock_000061166128

By identifying the main differences between fixed asset and inventory management, both will improve your small business’ ROI and streamline efficiency. Though they are both occasionally referred to simply as “assets” on a company’s balance sheet, inventory and fixed assets are very different and require different management systems in order to keep a business organized and running smoothly. There are different ... Read More »

How to Prevent Inventory Shrinkage in Your Supply Chain

iStock_000038365094

Inventory shrinkage is one of the biggest challenges faced by retail businesses. The loss of your goods means the loss of your company’s money and damage to your bottom line. The National Retail Federation (NRF) reported that in 2014 . More than half of it was the result of internal theft, administrative errors or unknown causes. Much of this can ... Read More »

How to Use Various Methods of Asset Depreciation

iStock_000010212569

At its core, the concept of depreciation is simple: When a business buys a fixed asset, a long-term asset used in the production of inventory, which is then sold for a profit, it commits to keeping the asset on their books and in their tax returns for years to come. The cost of the asset must be allocated over the ... Read More »

7 Important Inventory Metrics for Your Warehouse

iStock_000056934160

Setting goals is important for your small business to grow. As you start setting objectives, you may be tempted to look at other successful businesses and copy what they’re doing. Resist that urge! No ideal “one-size-fits-all” metrics exist. Even if a company is similar to yours, each operating environment is unique and its metrics may not fit your business requirements. “Always ... Read More »

10 Reasons Why Barcode Asset Tracking Software is the Perfect Solution

iStock_000030337542

Asset management or tracking software, like many tools that are used to increase employee productivity, is often overlooked by small businesses looking to achieve revenue growth. When it comes to revenue growth, the 2015 State of Small Business Report revealed most small and medium business owners want to focus solely on customer service and retention. Only 20% said they would ... Read More »

How to Improve Your Business Fixed Asset Auditing Process

iStock_000015115908

Novice business owners may not think much about their fixed assets, long-term assets that are used in the production of inventory and income, beyond purchasing them. These assets, which are often the largest investments a company makes and cannot be easily converted into cash, must be monitored throughout their useful life, for financial, logistical and legal reasons. In the past, simple ... Read More »

Why Inventory Tracking is a Gift During the Holidays

iStock_000020596751

3 Holiday Warehouse Challenges And How Inventory Control Helps Before summer is even over, retailers around the world gear up for the upcoming holiday season, and it’s little wonder; the National Retail Federation (NRF) projects that U.S. shoppers will shell out nearly $600 billion this year for Christmas gifts alone. If you’re a savvy small business owner, you’ll do what ... Read More »

Improving Small Business Time and Attendance

iStock_000037631540

Improving Small Business with Time and Attendance Can you think of an issue hotels and laboratories might have in common… something vital in the success of each business? In fact, vital in the success of all businesses?  Two very different companies implemented the same system that solved all of their time and attendance troubles. You can do the same. Running the Same Race in Different ... Read More »