Everything about Business Knowledge!
What Does Business Knowledge Mean? Business knowledge (BK) covers the set of information, skills, and comprehension necessary for business success. This knowledge encompasses both theoretical understandings and practical experiences gathered from avenues such as formal business education or industry certifications, and hands-on involvement in everyday business operations. The spectrum of BK embodies […]
Mastering Customer Liaison: Building Trust and Boosting Business!
Liaising with customers isn’t just a task—it’s the cornerstone of successful businesses. It involves communicating with customers to resolve issues, provide information and ensure their satisfaction. Establishing strong relationships with customers, addressing their needs, and ensuring their satisfaction can lead to increased loyalty, repeat business, and a positive reputation. Good customer service can […]
Multiple Location Management: The Art of Managing Businesses
Running a business is hard enough, but when you have multiple locations, it can be even more challenging. That’s where multiple location management comes in. With this concept, you can effectively manage your multiple locations from one central location. This can help save time and money, as well as improve communication and coordination between your […]
Supply Network Design: Critical Asset For Your Business!
What is Supply Network Design? Supply network design or Supply Chain Network Design is the process of designing and managing the flow of resources, information, and finances between organizations within the supply chain. The main goal of supply network design is to minimize cost and maximize service while meeting customer demand. This process includes […]
What are the Determinants of Business Performance?
Business performance is a measure of how well a business is doing. It can be measured in terms of financial indicators such as profitability and revenue growth or other factors such as customer satisfaction or employee engagement. Improving business performance is a crucial goal for business owners and managers, and there are many different ways […]
Project Profitability Analysis: Aim for Success!
The profitability analysis makes it possible to ensure project profitability. At least, it reduces the risk of loss! One of our articles on the relationship between time and money is intended to familiarize the reader with the principles of equivalence. This makes it possible to compare payments (or series of payments) by finding their equivalence […]
Time-Money Relationship: Profitability and Free Calculator!
Everyone has heard the famous expression: “Time is money”. Indeed, when we stop there, we exchange our time for money every day. One can work for a company, manufacture products in order to sell them, build an e-commerce business, sell one’s services, etc. In short, we exchange or transform our time in order to make […]
Master Production Plan: Simple Explanations!
Now that the overall (strategic) and integrated (tactical) plans are complete, let’s move on to the master production plan (operational). The master production plan aims to schedule the weekly manufacturing of finished products based on actual market demand. From this stage, we no longer operate in equivalent units (EU), but rather by product. The master […]
Integrated Production Plan: Explanation and Free File!
An integrated production plan is not just a process—it’s an art. This tactical methodology aids in aligning a company’s production activities with its anticipated demand, ensuring the company produces the right items, in the right numbers, at just the right moment, all while streamlining costs. As for the strategic plan, it corresponds to the global […]
The Global Production Plan: A Deep Dive
In any successful company’s toolbox, the global production plan stands out as a critical asset. Often interchangeably termed as the business or overall production plan, it serves as a blueprint for a company’s long-term strategies. At its core, this plan aims to weave together the essential elements of marketing, finance, and production functions over a […]
