Archive for 2020

7 Ways Technology can Increase Profits

Technology has reshaped the way businesses operate, expand, and communicate. In our quickly changing world technology can streamline processes. What used to take months to finish now takes only a few weeks or days. Read on for some of the ways that technology can improve your business:  Increased efficiency and productivity In the old days, people used to carry a…

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The Must Know Components of Inventory

Simplifying things, inventory refers to things that are being temporarily stored because they are not quite ready to go elsewhere. Inventory can be things that your organization plans to sell in its current conditions. Inventory can be things that your organization plans to incorporate into something else that it is making. And inventory can be things that your organization plans…

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Role of the Procurement Function

Procurement Departments are created for the understanding and translation of customer needs and requirements to the selection of capable suppliers, to realize the cost-effective acquisition, receipt, and payment of vital inputs and raw materials. Factors impacting the Total Cost of Ownership such as quality, efficiencies, delays, stock-outs, obsolescence and carrying cost are heavily emphasized in the procurement discipline. Procurement Personnel must master 3 critical…

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Coronavirus COVID-19 – NLPA’s S.F.I.A.R(T) Model™

The Coronavirus Pandemic is delivering an unprecedented challenge to the economic, emergency response, crisis management, and healthcare capacity of the global community. Much has been written about safety measures to curb the spread of the outbreak. Many nations are deploying various response mechanisms, National Guard deployment, school closures and nationwide state of emergencies are being implemented, enforced, and normalized. The…

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Vendor Risk Management

  The last decade has yielded many events, forces, and elements in which a greater concern and scrutiny of the concept of Vendor or Supplier Risk Management has risen. At the forefront are driven for Cost Reduction, Top Line Growth, and Competitive Advantage. Supplier Risk Management Processes are underpinned by: Identification of Potential Risks emanating from the interaction of buying…

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