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Digg it UP - Inventory Accuracy Hints
How to Use a News Release
News releases, also called press releases, are the most important selling tool of publicity. The release must capture the editor's attention, be precise and easy to read.A news release can go to just one newspaper or many publications at once. It can be a community notice about an organization's library sale or an international insight into inflation. The same standard form is used for every type of news, whether an executive promotion in the trade magazines, or a local event such as an author signing books at a neighborhood bookstore.If you want your notice to get into a special edition of a publication, be aware of the deadlines. Sunday news editions generally have more readers than the daily editions. Find out when your release must be received at the editor's desk. Never mix publicity with advertising. If your newspaper features specific businesses in special industry supplements, you may be chosen because you advertise.But otherwise, editors frown on any releases that merely imitate advertising and are not newsworthy. Don't embarrass yourself by sending anything that is not worthy of being printed i
that there is a place for everything- materials, equipment, documents, and of course, people. Use signs and markings to make these obvious.
News releases, also called press releases, are the most important selling tool of publicity. The release must capture the editor's attention, be precise and easy to read.A news release can go to just one newspaper or many publications at once. It can be a community notice about an organization's library sale or an international insight into inflation. The same standard form is used for every type of news, whether an executive promotion in the trade magazines, or a local event such as an author signing books at a neighborhood bookstore.If you want your notice to get into a special edition of a publication, be aware of the deadlines. Sunday news editions generally have more readers than the daily editions. Find out when your release must be received at the editor's desk. Never mix publicity with advertising. If your newspaper features specific businesses in special industry supplements, you may be chosen because you advertise.But otherwise, editors frown on any releases that merely imitate advertising and are not newsworthy. Don't embarrass yourself by sending anything that is not worthy of being printed i
• Effective policies and procedures for material handling, storage, identification, packaging, labeling, data collection, counting and transactions. Use good forms and tools to structure work properly.
• A training/certification/assessment program for all people who handle or track inventory, or who are in a position to influence how well that works. Consider PROACTION’s Inventory Accuracy Seminar. Us
Speak from Your Heart
What does it mean to speak from your heart? And why is it important to do so when speaking in a business context?We start with the reason we give speeches and presentations in the first place: to deliver a message. If you have something to say, a message to convey, you make a speech or give a presentation. The whole point is to get the message delivered.Or is it? Is it simply to deliver the message, or is it to get people to do something with the information being conveyed – to take action?Like you, I’ve listened to boring speakers. They had a message and they delivered it. But if they were so boring that I lost interest and stopped paying attention within minutes of their opening comments – or by the time the third PowerPoint slide came up – then I didn’t receive their message. They delivered it, but it wasn’t received.Someone once said, “People don’t care how much you know until they know how much you care.”When you speak from your heart, it is evident to everyone in your audience that you care. Speaking from your heart means that you are emotionally invested in what you are saying. It means that you care ab
Does your company need to improve inventory accuracy?
What does it mean to speak from your heart? And why is it important to do so when speaking in a business context?We start with the reason we give speeches and presentations in the first place: to deliver a message. If you have something to say, a message to convey, you make a speech or give a presentation. The whole point is to get the message delivered.Or is it? Is it simply to deliver the message, or is it to get people to do something with the information being conveyed – to take action?Like you, I’ve listened to boring speakers. They had a message and they delivered it. But if they were so boring that I lost interest and stopped paying attention within minutes of their opening comments – or by the time the third PowerPoint slide came up – then I didn’t receive their message. They delivered it, but it wasn’t received.Someone once said, “People don’t care how much you know until they know how much you care.”When you speak from your heart, it is evident to everyone in your audience that you care. Speaking from your heart means that you are emotionally invested in what you are saying. It means that you care ab
Often, writings on inventory accuracy improvement focus on techniques, such as cycle counting. While this is a very important item in the toolkit of the inventory or materials professional, cycle counting is only mainly a measurement and diagnostic tool. Think of it as SPC (Statistical Process Control) for inventory accuracy. You probably aren’t going to cycle count your way to inventory accuracy, without also making major improvements in the material handling, transaction control, reporting and feedback process. For many companies, using cycle count adjustments to correct inventory record errors is like trying to bail out the ocean with a spoon, since errors may be made far faster than they can be economically corrected.
So what should you do?
An effective inventory accuracy program should consist of the following elements:
• Inventory accuracy measurement criteria (metrics) - including item/part number identification, quantity and unit of measure, location and posting timeliness. Some companies also measure other related data, such as customer/contract number, configuration/revision letter, lot, serial number, grade and expiration date. I have visited companies claiming to have 95, 98 or 99+% record accuracy that quickly shrinks to mid-double digits when we apply our uncompromising criteria objectively. Sometimes companies have invalid criteria, sometimes they deceive themselves, sometimes their employees deceive them, sometimes unconsciously or unwittingly.
• A clearly defined material and document flow, with control and tracking points identified. These should be clearly marked out in the shop and employees should be thoroughly indoctrinated. A simple flow chart of the desired system is an excellent educational tool. It should include material, document and transaction routing, “drop points,” flow times, logging, batch controls, reports and auditing.
• Adequate facilities, space, storage and material handling systems and other equipment. Good housekeeping practices are a must. It might be necessary to physically secure the inventory with fences, gates and locks, if floor discipline cannot be achieved otherwise. Make sure that there is a place for everything- materials, equipment, documents, and of course, people. Use signs and markings to make these obvious.
• Effective policies and procedures for material handling, storage, identification, packaging, labeling, data collection, counting and transactions. Use good forms and tools to structure work properly.
• A training/certification/assessment program for all people who handle or track inventory, or who are in a position to influence how well that works. Consider PROACTION’s Inventory Accuracy Seminar. Use
Boosting Your Bottom Line: The 9 Keys to Marketing Success
Are you a small business owner who’s just getting started or a veteran who is eager to review the basics and generate more income through effective marketing? Walk through these 9 keys and turn your dread of marketing into a passion.1. Craft your vision statement: Answer the question, “Why does my company exist?” This is the heart and soul of your organization and the platform from which you should make every decision be it marketing, product development, or customer service related.2. Identify your ideal client: Take a hard look again at why you’re in business in the first place. Then identify who’s really going to want what you’re selling. Who’s going to understand exactly where you’re coming from and jump at the chance to do business with you? If you can identify those quality consumers, you will have a much easier time finding them.3. Target your SWOT (Strengths, Weaknesses, Opportunities, Threats): The first two components are internal--what’s going on inside of you and your company. The last two areas are external or the outside forces you must consider. There are unlimited applications for the SWOT exercise
ck process. For many companies, using cycle count adjustments to correct inventory record errors is like trying to bail out the ocean with a spoon, since errors may be made far faster than they can be economically corrected.
Are you a small business owner who’s just getting started or a veteran who is eager to review the basics and generate more income through effective marketing? Walk through these 9 keys and turn your dread of marketing into a passion.1. Craft your vision statement: Answer the question, “Why does my company exist?” This is the heart and soul of your organization and the platform from which you should make every decision be it marketing, product development, or customer service related.2. Identify your ideal client: Take a hard look again at why you’re in business in the first place. Then identify who’s really going to want what you’re selling. Who’s going to understand exactly where you’re coming from and jump at the chance to do business with you? If you can identify those quality consumers, you will have a much easier time finding them.3. Target your SWOT (Strengths, Weaknesses, Opportunities, Threats): The first two components are internal--what’s going on inside of you and your company. The last two areas are external or the outside forces you must consider. There are unlimited applications for the SWOT exercise
So what should you do?
An effective inventory accuracy program should consist of the following elements:
• Inventory accuracy measurement criteria (metrics) - including item/part number identification, quantity and unit of measure, location and posting timeliness. Some companies also measure other related data, such as customer/contract number, configuration/revision letter, lot, serial number, grade and expiration date. I have visited companies claiming to have 95, 98 or 99+% record accuracy that quickly shrinks to mid-double digits when we apply our uncompromising criteria objectively. Sometimes companies have invalid criteria, sometimes they deceive themselves, sometimes their employees deceive them, sometimes unconsciously or unwittingly.
• A clearly defined material and document flow, with control and tracking points identified. These should be clearly marked out in the shop and employees should be thoroughly indoctrinated. A simple flow chart of the desired system is an excellent educational tool. It should include material, document and transaction routing, “drop points,” flow times, logging, batch controls, reports and auditing.
• Adequate facilities, space, storage and material handling systems and other equipment. Good housekeeping practices are a must. It might be necessary to physically secure the inventory with fences, gates and locks, if floor discipline cannot be achieved otherwise. Make sure that there is a place for everything- materials, equipment, documents, and of course, people. Use signs and markings to make these obvious.
• Effective policies and procedures for material handling, storage, identification, packaging, labeling, data collection, counting and transactions. Use good forms and tools to structure work properly.
• A training/certification/assessment program for all people who handle or track inventory, or who are in a position to influence how well that works. Consider PROACTION’s Inventory Accuracy Seminar. Us
5 Reasons Salespeople Earn 10 Times More Money (And You Can, Too!)
When I was a new college professor I had a colleague who had earned her Ph.D. from a prestigious institution, had published widely, presented numerous scholarly papers at conventions, and was dynamic in the classroom, and well liked.She drove a used import, with a ton of miles on it, and her clothing, while attractive, wasn’t fresh off the runway.Her husband drove a new luxury car, trading it in every year or two, looked dapper and distinguished in his expensive, designer suits, and earned about ten times as much as his bride. By the way, he only held one degree, a B.A., to her three.But of course, all of this made sense: he was a salesman.Salespeople, generally speaking, earn more money than your average bear, or professor. In fact, the upper echelons of selling have members who outpace attorneys and give medical doctors a run for their money, especially in our era of managed care.Why do salespeople earn more money, and how can you, too?There are five key reasons:(1) Salespeople work in an atmosphere of uncertainty. From pay period to pay period, their earnings can and usually do, fluctuate. A p
data, such as customer/contract number, configuration/revision letter, lot, serial number, grade and expiration date. I have visited companies claiming to have 95, 98 or 99+% record accuracy that quickly shrinks to mid-double digits when we apply our uncompromising criteria objectively. Sometimes companies have invalid criteria, sometimes they deceive themselves, sometimes their employees deceive them, sometimes unconsciously or unwittingly.
When I was a new college professor I had a colleague who had earned her Ph.D. from a prestigious institution, had published widely, presented numerous scholarly papers at conventions, and was dynamic in the classroom, and well liked.She drove a used import, with a ton of miles on it, and her clothing, while attractive, wasn’t fresh off the runway.Her husband drove a new luxury car, trading it in every year or two, looked dapper and distinguished in his expensive, designer suits, and earned about ten times as much as his bride. By the way, he only held one degree, a B.A., to her three.But of course, all of this made sense: he was a salesman.Salespeople, generally speaking, earn more money than your average bear, or professor. In fact, the upper echelons of selling have members who outpace attorneys and give medical doctors a run for their money, especially in our era of managed care.Why do salespeople earn more money, and how can you, too?There are five key reasons:(1) Salespeople work in an atmosphere of uncertainty. From pay period to pay period, their earnings can and usually do, fluctuate. A p
• A clearly defined material and document flow, with control and tracking points identified. These should be clearly marked out in the shop and employees should be thoroughly indoctrinated. A simple flow chart of the desired system is an excellent educational tool. It should include material, document and transaction routing, “drop points,” flow times, logging, batch controls, reports and auditing.
• Adequate facilities, space, storage and material handling systems and other equipment. Good housekeeping practices are a must. It might be necessary to physically secure the inventory with fences, gates and locks, if floor discipline cannot be achieved otherwise. Make sure that there is a place for everything- materials, equipment, documents, and of course, people. Use signs and markings to make these obvious.
• Effective policies and procedures for material handling, storage, identification, packaging, labeling, data collection, counting and transactions. Use good forms and tools to structure work properly.
• A training/certification/assessment program for all people who handle or track inventory, or who are in a position to influence how well that works. Consider PROACTION’s Inventory Accuracy Seminar. Us
Protect the Visionary
“You cannot protect something by building a fence around it and thinking that this will help it survive.” Wim WendersIn America there is a push to provide protectionist status to American positions to ensure the viability of American business as well as American jobs.Does this idea make sense for the entrepreneur?The Internet has provided a means of tapping into a radical new business model. This model relies on the ability of a business to reach beyond the borders of their town, county, state, region and country. The Internet is proving there’s a large, but shrinking global economy.Where once it was only society’s elite that made international purchases it’s now commonplace to find international stores that make items available to a much larger segment of the buying public.For instance if you were to visit New Zealand and discovered the Whittaker’s Peanut Slab and fell in love with the taste and texture of the candy bar you could go online and have the product delivered to your door. If you discovered a European clock design you liked you could also go online and conduct a search for the product that could al
marked out in the shop and employees should be thoroughly indoctrinated. A simple flow chart of the desired system is an excellent educational tool. It should include material, document and transaction routing, “drop points,” flow times, logging, batch controls, reports and auditing.
“You cannot protect something by building a fence around it and thinking that this will help it survive.” Wim WendersIn America there is a push to provide protectionist status to American positions to ensure the viability of American business as well as American jobs.Does this idea make sense for the entrepreneur?The Internet has provided a means of tapping into a radical new business model. This model relies on the ability of a business to reach beyond the borders of their town, county, state, region and country. The Internet is proving there’s a large, but shrinking global economy.Where once it was only society’s elite that made international purchases it’s now commonplace to find international stores that make items available to a much larger segment of the buying public.For instance if you were to visit New Zealand and discovered the Whittaker’s Peanut Slab and fell in love with the taste and texture of the candy bar you could go online and have the product delivered to your door. If you discovered a European clock design you liked you could also go online and conduct a search for the product that could al
• Adequate facilities, space, storage and material handling systems and other equipment. Good housekeeping practices are a must. It might be necessary to physically secure the inventory with fences, gates and locks, if floor discipline cannot be achieved otherwise. Make sure that there is a place for everything- materials, equipment, documents, and of course, people. Use signs and markings to make these obvious.
• Effective policies and procedures for material handling, storage, identification, packaging, labeling, data collection, counting and transactions. Use good forms and tools to structure work properly.
• A training/certification/assessment program for all people who handle or track inventory, or who are in a position to influence how well that works. Consider PROACTION’s Inventory Accuracy Seminar. Us
Help! I'm Overwhelmed and I Can't Get Up!
It's been another 12 hour day. Your other half is upset that you missed dinner - again. Your kids can't remember what you look like. You're exhausted and after the 942nd time your mastermind group has told you to hire some help you are finally ready. But now what? How do you even begin trying to figure out what someone should do? Don't worry, it's not as hard as you think. Below are 4 steps with specific actions to take to ensure you get find the right person and get the most bang for your buck.#1 Create a job description The biggest mistake I see over and over again is business owners simply hiring someone and throwing them at the problem without any rhyme or reason. If you are not clear about what you want this person to do for you, how are they supposed to know? Your great new assistant anxiously wants to help out, but can't because you have no clue what to ask them to do. With a little planning, you can be prepared to answer the magic question, "what should I do now?"Your actions: Start by creating your own job description. Make a list of everything you are currently handling. Things like writing proposals, making phone ca
that there is a place for everything- materials, equipment, documents, and of course, people. Use signs and markings to make these obvious.
It's been another 12 hour day. Your other half is upset that you missed dinner - again. Your kids can't remember what you look like. You're exhausted and after the 942nd time your mastermind group has told you to hire some help you are finally ready. But now what? How do you even begin trying to figure out what someone should do? Don't worry, it's not as hard as you think. Below are 4 steps with specific actions to take to ensure you get find the right person and get the most bang for your buck.#1 Create a job description The biggest mistake I see over and over again is business owners simply hiring someone and throwing them at the problem without any rhyme or reason. If you are not clear about what you want this person to do for you, how are they supposed to know? Your great new assistant anxiously wants to help out, but can't because you have no clue what to ask them to do. With a little planning, you can be prepared to answer the magic question, "what should I do now?"Your actions: Start by creating your own job description. Make a list of everything you are currently handling. Things like writing proposals, making phone ca
• Effective policies and procedures for material handling, storage, identification, packaging, labeling, data collection, counting and transactions. Use good forms and tools to structure work properly.
• A training/certification/assessment program for all people who handle or track inventory, or who are in a position to influence how well that works. Consider PROACTION’s Inventory Accuracy Seminar. Use APICS materials.
• An ongoing assessment and diagnostic program, such as cycle counting. Such programs may be administered in any one of several organizations within the company, as long as the manager in charge is sensitive to the needs of inventory accuracy and earnestly dedicates the needed effort to the program. That being said, we believe that 3rd party oversight, by an internal or external audit group or an outside consultant, is needed to keep the program on track.
• Effective inventory transaction cut-off control and reconciliation procedures, including accounting for all transaction documents. Don’t dare even THINK about real cycle counting until you get control of this, although it is recommended that you start early with a small control group, to debug the process and begin error diagnostics. Expand to a larger cycle count program only after you know what you’re doing.
• Transaction control system to post transactions and provide inventory status to all departments needing it, preferably via an on-line computer system. Bar code and other automated data collection systems are desirable, if cost-effective, but are no means mandatory to run an accurate system. Visual control systems, such as Kanban, 2-bin, pallet squares, etc, can sometimes reduce or even eliminate the need for most transactions and automated systems, in the proper circumstances.
So, you may be thinking, all of this is fairly straightforward-- why isn’t everyone doing something like this successfully? It’s actually much harder than it looks—why:
• Attitude: Not everyone agrees that inventory accuracy is important. I say: Are you satisfied with the alternative? It requires a high degree of consensus on the approach, responsibilities and “ownership.” In extreme cases, company executive leadership may need to step in to help change the culture and oversee required changes.
• Discipline is needed, day after day, year after year. This is not a one time cleanup job that management can declare victory for and just go home. It requires that someone be at least a part time “Accuracy Czar,” to keep the effort focused and permanently active.
Implementation Ideas
Setting up t
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