Business Tips
We’ve listed some handy tips and tricks to get started with DEAR for your business.
15 Inventory Management Techniques You Need to Use Today
Ever heard of a successful business that became successful while mismanaging its inventory? We haven’t either. They don’t exist. Sure, there are plenty of mammoth companies that mismanaged their inventories and...
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FIFO vs LIFO: What You Need to Know to Choose the Right Method
FIFO vs LIFO: the great business accounting debate. At the end of your fiscal year, you’ll probably use one of these two accounting methods to value your inventory and report your profitability. But they’re distinctly different and will produce very different results...
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3 Profit-Boosting Advantages of ABC Analysis of Inventory
How do you effectively manage different types of inventory for maximum profit and lowest cost? You segment them into different categories, making it easier to track them and use your resources appropriately. So...
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8 Powerful Lean Six Sigma Tools for Streamlined Manufacturing
Lean Six Sigma is the system preferred by businesses around the world to streamline, improve, and optimize any and every aspect of their organization. What sets this system apart from everything else is its fusion...
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Lean vs Six Sigma: What Makes Them Different and How to Choose the Right One
If you want to improve your products and manufacturing, there are two major methods you’re likely to use: Lean vs Six Sigma. Lean manufacturing is well-known for eliminating waste while Six Sigma is well-known for...
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What is 6 Sigma: Two Methodologies You Must Know
Do you want your products to have fewer defects and your manufacturing process to have less variability? Then you need 6 Sigma. Through intensive training, focused projects, and effective statistical analyses, 6...
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A Simple Guide to the Lean Manufacturing System
Do you want to decrease waste and increase the quality of your products? How about decreasing your cost of inventory and increasing your profit margins? You’d probably like to boost your productivity too, right?...
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Out of Stock? Here are 5 Ways to Prevent Stockouts for Good
In business, there’s one phrase you never want to say: “We’re out of stock.” But we’ve all said it. And every time we say it, we tell ourselves we won’t say it again. Until we do. You shouldn’t beat yourself up...
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5 Demand Forecasting Best Practices for Smarter Predictions and Better Results
Demand forecasting is a tough job with a lot of errors. The people who attempt to tell the future of your customers’ buying decisions are usually wrong. But sometimes they’re right. And in those instances, they’ve...
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4 Tips on How to Effectively Plan a Warehouse Layout Design
The layout of your warehouse is the foundation of the efficiency (or lack thereof) in your operations. From inventory management to order fulfillment, your warehouse layout design will either streamline your...
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Poor Inventory Management: What’s Causing It and How to Stop It
Walmart lost $3 billion in 2013 due to poor inventory management, leading to frequent stockouts. If that’s how improper inventory management affects a mega-corporation, how do you think it would affect your...
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Obsolete Inventory: How to Manage It, Get Rid of It, and Prevent It
Obsolete inventory is the worst kind of inventory you can have (next to no inventory, of course). It increases your cost of inventory and is hard to get rid of. If you have too much inventory on hand that’s not...
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Why Economic Order Quantity May Be Right (Or Wrong) for You
Would you like to know exactly when you need to reorder stock and how much you need to reorder? Then you need to calculate your economic order quantity (EOQ). EOQ - much like a reorder point formula - helps you...
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Minimum Order Quantity: What It Is and How to Make It Work for You
A minimum order quantity is often seen as a necessary evil in wholesaling, retailing, and manufacturing. Some businesses like it, some businesses hate it, and some businesses have to use it. But what is a minimum...
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24 Benefits of CRM software for more sales and better salespeople
In 2011, Nucleus Research discovered that CRM systems delivered an average return of $5.60 for every dollar spent. They continued to research the returns from CRM software and found that in 2014, the average...
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