Selling Your Ideas to Management – Speak with Data

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While teaching classes for my in-house clients and at local colleges and universities, I often hear students say they can’t sell new ideas to management. They say things like, “I can’t change anything”, or “No one will listen to my ideas”, or “They don’t want to change anything at our company.” These students are largely non-managerial, semi-professional employees, many of them without a college degree who had no thought of being in their current profession when they started their career. These folks take these classes to develop their professional knowledge and skills and to learn new tools and concepts that…
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Using Consignment Inventory to Improve Your Cash Flow

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One approach that is often overlooked for acceleration of cash flow is the use of consignment inventories. Consignment goes beyond VMI/SMI (Vendor Managed/Supplier Managed Inventory) in improving cash flow because with consignment you don’t pay for the inventory until you use it. With consignment inventory the customer takes possession of a supplier’s goods on receipt of a shipment but does not own them. The customer is responsible for maintaining these inventories as if they were their own, which means storing them in a safe and secure place and paying the insurance and other related storage costs. During a physical inventory,…
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Cash is King- The Importance of Cash Flow Management

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Operating any business in today’s economic environment means managing cash flow. Companies looking only at their earnings and not managing cash flow cannot and will not survive in today’s economy where short term operational loans are not often readily available. This edition of the ACA newsletter is dedicated to understanding the importance of managing cash flow. This article explains the evolution of cash flow management in business operations and addresses some key concepts related to cash flow. In related articles this author along with his ACA associates provides some useful suggestions for improving cash flow through: inventory reduction, better supply…
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Supply Chain Cost Reduction

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Along with Lean and ERP, Supply Chain Management (SCM) is a hot topic in today’s world of global operations management. In the last ten years, numerous enterprises have replaced their Purchasing Manager with a Supply Chain Manager. Yet, in many of these companies, little has changed in how they conduct business with their suppliers. This article will address how to achieve real value with SCM by identifying and reducing total supply chain costs. Traditionally, cost reductions are achieved by getting suppliers to reduce their prices. To this end, we employ tactics such as competitive bidding and negotiation. But these tactics…
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