3 Lean Lessons for CFOs
In this article Rick highlights 3 dimensions of Lean CFOs should be familiar with.
2 Keys to Inventory Management - You CAN Be Empty But DON’T Be Late
“You can’t sell out of an empty wagon,” is a favorite saying among salespeople, meaning that you have to have inventory (usually lots of it) to quickly serve your customers. But it just isn’t true! In fact, if you have a successful Just In Time (JIT) supply chain management process, often the less inventory you have, the better you can service your customers.
Get An Accurate Picture: Why Your Business Should Switch To Accrual Accounting
Accurate, timely accounts are not only important, they can mean the difference between success and failure in the business world.
Four out of five new businesses fail within the first five years, and of those 60 percent are profitable, according to the Professional Association of Small Business Accountants. One of the main reasons is “payment terms”–the time between when a service is provided or a liability incurred and when money is actually exchanged, the association says.
How to Make Your Business Attractive to a Buyer
Are you ready to sell?
Business owners must have their affairs in order to attract a potential buyer. The combination of our recent economic recovery and the long-term investor portfolio shift to business acquisitions puts the owners of well run businesses in a good position to earn a premium over previous historical trends for selling businesses.
Can Data Be A Liability For The Business?
Today, almost every organization is trying to leverage data for improving its business performance using artificial intelligence (AI) and machine learning (ML) techniques. Fundamentally, data has the potential to improve the company’s revenue, reduce expenses and mitigate risk. While data can be a valuable business asset by offering tangible business results, it has some serious limitations and can become a huge liability if not managed well. How can an intangible asset like data become a liability for business? There are four common scenarios.
