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Handling your warehouse right is a crucial factor that affects directly on the success of your manufacturing business regardless of the industry you are in and the size of your business. Because it can be a breaking or making point for the whole business’s financials depending on the warehouse management costs. If not handled properly, warehouse management is a process that can cause you a significant financial loss. Mainly this happens as you find it difficult to keep track on all the moving pieces of your warehouse such as picking, receiving, order allocation, counting…etc which will cause wastes, inventory loss, increased labour and equipment costs and the list goes on and on.  

When you hear the term ERP, you are actually wondering what it is. Well, the acronym stands for Enterprise Resource Planning. And this again doesn’t give you a clear idea as to what this software is exactly, and what it does. Before you know this, it is clearly impossible for you to understand what the advantages of such a software are going to be. So, let’s start off by understanding in a few sentences what ERP exactly is, and what it does so that you will end up with a clear understanding of its benefits.

Procurement is the purchase of all goods and services needed for a company to stay sustainable. A procurement management system streamlines the evaluation, selection, and authorization of contracts with all suppliers. It also manages ongoing supplier relationships and the transactional purchasing of goods and services. In essence, a procurement management system is the complete source-to-settle cycle solution for supplier invoice payments.

Having a Procurement Management software to manage the process for you can make all the difference for your business. Here are 7 must-have features of a good Procurement Management system in order to be effective.

Singapore Budget 2018 Infographic

 

Key highlights of the 2018 budget

On 19 February 2018, Finance Minister Heng Swee Keat delivered the Budget Statement of Singapore for 2018. The budget which was presented under the heading “A Better Future” was revolutionary, as it was aimed at sparking the next waves of the technology revolution. Introducing a new crowdsourcing platform, funding research, and development, opening ports to test new technologies and funding a new robotics program highlighted the commitment of the government toward this paradigm shift.    

Any company with an inventory knows that right inventory management can bring a tremendous amount of profits to a business.

One of the most effective ways you can improve the efficiency of your inventory is by investing in an inventory management software. For those who are still sitting on the fence on deciding an inventory control software is the right investment for your business… Below we’ve listed seven advantages of an inventory control system to help you make a better decision.