The search to find the right third-party logistics (3PL) partner that will suit your business’s needs can be daunting. Learn the primary considerations driving the choice of a third party logistics provider. Continue reading What Drives the Choice of a Third Party Logistics Provider?
A disaster is any event that will significantly impact your company’s operations — and I mean Anything. Traditionally, this means a hurricane, fire, flood, or earthquake. Non-traditionally, this means a toxic waste release, computer system crash, power outage, labor strike, community illness and many others. Unfortunately, disasters happen more frequently than we would prefer. So how can you use disaster management planning to make sure you’re prepared? Continue reading What are the Steps to Disaster Management Planning?
Your disaster recovery will depend on how well team members understand and have practiced their roles. The company’s Disaster Recovery Team is drawn from the company’s available personnel resources, and may include service vendors. Your Disaster Recovery Team functions as a strategic planning and tactical response unit. Team members may be assigned temporary duties, responsibilities and a level of authority beyond their normal employment classification. Continue reading Who Is on a Disaster Recovery Team?
People are losing their jobs as a result of business establishments closing due to the government’s lockdown protocol to curtail the contagion of coronavirus. Businesses that undergo surveys are expected to have a decline in revenue in the upcoming six months due to the lockdown. Continue reading How to Manage Business Income Loss During a Pandemic like COVID-19
A simple tool that can be used to improve the performance of business processes–Cause-Effect Diagrams. In improving any process, there are problems to be overcome. Most of these problems come to our attention due to their symptoms and effects. In order to solve these problems, we must find the root cause of each problem and eliminate that cause. Continue reading How to Use Cause-Effect Diagrams to Solve Problems
With the recent COVID-19 outbreak spurring on remote recruitment, it seems flexible working is no longer the future — it is reality for the majority of businesses. While many companies have decided to halt their recruitment during these uncertain times, others have shifted their workers to a remote working setup. Continue reading Preparing Your Business For Remote Recruitment
During the economic crisis, it seemed as though we’d been constantly running in crisis mode. To put it mildly, the worldwide situation got out of control years ago and it didn’t show signs of improving soon. Uncertainty abounds, fingers were pointed in every direction, and many of us felt powerless to do anything but wait and worry. In those situations, it’s best to know about crisis and risk management. Continue reading What Is the Difference Between Crisis and Risk Management?
Business continuity management — more commonly known as “disaster recovery”, even in the present day — used to be about worst-case scenarios. That is: What is the worst thing that could befall my company, and how do I ensure minimal to no disruption of the company’s operations if that happens? Continue reading How to Create a Business Continuity Plan
Profit is used to drive growth, which is one aspect to your cash needs. But what are you going to do with the excess cash from your business? Your options include purchase assets, spend it on various expenses, hold it in an investment account, pay down debt, or give it back to the shareholders. Do you have a Return on Investment plan for your capital? Continue reading What Is Your Business Return on Invested Capital?
The are four key cash flow control procedure areas. How cash flows through these areas makes up the Cash to Cash Cycle. Continue reading Do You Have Proper Cash Flow Control Procedures?