Reducing the lead time by doing stock categorization improves overall productivity, resulting in higher revenues and profits. The Lead Time is the amount of time taken for a particular Stock Item to reach the warehouses from the date of ordering. Longer lead times often result in inefficiencies and wastage of resources. Businesses should review their […]
Resource Management
How to Manage Joint Venture Partnerships to Work?
To manage a joint venture partnerships can soon become difficult if you don’t plan them right. Your business may have strong potential for growth and you may have innovative ideas and products. However, a mismanaged joint venture could give you a run for your money.
How to Choose the Right Joint Venture Partner?
The ideal partner in a joint venture is one that has resources, skills and assets that complement your own. The joint venture has to work contractually, but there should also be a good fit between the cultures of the two organizations.
When and Why a Business Can Enter into Joint Ventures?
Entering into a joint ventures is a major decision. When two businesses agree to join together for a common purpose and mutual benefit, it gives rise to a joint venture. Join ventures can be created by two or more parties; generally characterized by shared ownership, shared returns and risks, and shared governance in a business.
7 Benefits of Record Keeping for Business
While there are many benefits to record keeping for business, especially in the long run. Creating and maintaining business records is essential to help analyze a business’s profitability, performance, maintain positive customer relationships and more.