What Is Purchase Management? And the Importance of Purchase Management
Purchase Management is a crucial aspect of supply chain, with the vast range of purchases that take place every day in modern business. From raw materials to finished products and everything in between, making sure that you have the right…
ABC Analysis: What It Is and Benefits of ABC Analysis
ABC Analysis is a powerful technique that helps the organization to divide their products into 3 categories such as A, B and C to figure out which makes the bigger contribution to their revenue source. Learn more about this analysis…
Inventory Management: What It Is? Why Is It Important? And Its Types
Inventory management is one of the most important tasks for any business. It ensures that the company has enough goods on hand to meet customer demand, and doesn’t end up with too many or too few items. This article takes…
Purchase Cycle: 5 Stages of Purchase Cycle
Purchase cycle is a sequence of events that happen when a person buys a product and constitutes the products journey from manufacturer to end customer. This blog article discusses the different stages in this process, from when an idea for…
Warehousing Stages: 7 reasons why warehousing stages matter the most
Many people are unaware of the different warehousing stages that typically occur before a product is sold to the customer. Some are aware that they happen but might not understand the importance of going through these stages. This blog will…
Data Collection – Primary and Secondary Which Is Better?
Data collection is the process of systematically gathering information about a particular topic or project. This type of data gathering has been traditionally achieved through interviews, surveys, and observation. However, these methods are not only time-consuming to complete but also…
What Is Procurement? And 7 Stages of Procurement Process
The procurement process can be quite overwhelming for those with little or no experience in this field. However, it is not impossible to understand. In fact, it is important to have a basic understanding of what procurement involves so that…
Multinational Corporations: Types Of MNC’s
The method of business that we use today is driven by multinational corporations which in short are called MNC’s. Multinational corporations (MNC’s) are businesses with operations in more than one country. These companies are known to expand their business over…
11 Ways To Collect Primary And Secondary Data
Collecting data is an important step – it helps management of an organization to understand a topic and make decisions about how to proceed. But does the process of collecting data have to be difficult? This blog article looks at…
What is Environmental Analysis? And Why is it Important?
Environmental analysis is a critical aspect of analyzing the internal and external factors that influence your business. It is important to take into account all forms of environmental impact and keep these in mind when making decisions. In this article,…