I.B.W.A. is an acronym for Inventory by Walking Around. This is to describe the process where an inventory manager or warehouse employee walks around the warehouse to determine quantity and location of inventory items.
Digital transformation is becoming a more prolific topic among the top consultancies in the world. When the darling blue chip GE starts an active advertising campaign touting itself as “The digital company. That’s also an industrial company.” it may be time to evaluate what impact a digital transformation will have on small to mid-size businesses.
Implementing a software package, whether it’s for accounting, inventory management, manufacturing resource planning or any business area, is always a challenge for even the best organizations. The result of a software implementation should not just be new technology, but must also be better processes, improved efficiencies and a reduction of business risk. However, the prospect of an implementation itself is risky.
Microsoft Excel is the most widely used information management tool among businesses. Smaller companies typically use it to track expenses, keep up with accounts receivable and manage critical information like payroll. Larger companies have ERP, accounting and/or HR systems to manage that information, but often use Excel for budgeting and forecasting.
Today’s Healthcare landscape is changing dramatically with governmental changes, an aging boomer generation, increased healthcare regulations, and others factors such as ICD-10. It is important that healthcare companies stay on top of performance, properly deploy analytics and/or metrics, and forecast where the organization might be going.