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Brewery Inventory Management Up In The Cloud

September 28, 2017 0

These processes can become troublesome, however, especially in larger breweries with multiple departments.

A singular, streamlined method for brewery inventory management can be much more efficient and effective. Cloud inventory software can help brewery managers to easily oversee stock levels and information so that they can make productive decisions. Below, we examine exactly how cloud inventory software can make inventory management a breeze for breweries.

Reduce Costs and Wastage

Cloud-based inventory systems allow you to monitor raw materials from the time you receive them to the moment they are sold as a finished beverage. This allows you full oversight of the entire process, and this way you can get an understanding of how best to reduce production costs.

Being aware of the whereabouts and condition of raw materials also allows you to estimate the best times for replenishing stock. This can help prevent the accumulation of expired items, which in turn will avoid the costly issue that is excess or obsolete stock.

Keeping track of raw materials throughout the production process manually and through liaising with multiple departments at once can cause confusion. In this situation, you may end up over-ordering or under-ordering stock, which can have huge knock-on effects in terms of productivity and profitability.

Pricing

A reliable cloud-based inventory system will allow you to see the cost of every individual ingredient that goes into your beverages. This way, you can come up with sales prices for each finished product that adequately offsets production costs and helps boost your profit margins.

This includes enabling you to track bottles, kegs and barrels, as well as expiry dates of raw materials. Again, this will allow you to determine accurate pricing for finished products that best accounts for production and ordering costs. Lastly, having this knowledge will allow you to be proactive in keeping informed of regulatory compliance requirements.

Brewery Inventory Management in Real-Time

Cloud-based inventory systems are particularly useful for brewery inventory management because they put real-time inventory details at your fingertips. This means that information about stock numbers, sales margins, stock conditions and sales trends can be accessed immediately. This negates the need to conduct time -consuming searches through piles of paper notes, warehouses or spreadsheets, or the need to contact other departments.

Not only does this help you to manage inventory more efficiently, but it will also mean better customer service. If a customer calls or emails in about the details of a specific product, for instance, you can quickly pull up the information on your computer, tablet or phone. Faster service improves customer satisfaction, and this can contribute to the retention of your customer base in general.

Accurate Recipe Information

Lastly, reliable cloud-based inventory systems are great for brewery inventory management, since they may allow you to review and make changes to recipes to ensure their quality. This way, you can allocate precise quantities for each recipe, ensuring the consistency of each batch.

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Action Planning for client success

September 28, 2017 0

I’m delighted that our new Action Plan release featuring visual goal tiles, progress-trackers and due dates is now live – bringing this great combination back together again! True advisors don’t just talk about the numbers, they set goals with clients and work alongside them to see the actions achieved so that goals are realised. Setting goals is a powerful connector between an accountant and a client, preferably covering Financial, Business and Personal goals for a complete and holistic overview.

With Spotlight Reporting featuring financial and non-financial analysis, visuals, an Executive Summary of highlights and recommendations, external content insertions as needed, and now also Action Plans, Spotlight truly constitutes a complete ‘Board Pack’ for advisors to share.

Check out our Action Plan next time you use Spotlight Reporting, and start setting goals with your clients!

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Is Ecommerce Really Killing Brick and Mortar Retail?

September 26, 2017 0

At Vend, we firmly believe that physical retail is very much alive, and we’ve said it again and again. But to continue to drive this point home, we thought we’d get a second opinion and some actual data behind this claim.

So we caught up with Neil Saunders, the Managing Director and a Retail Analyst at GlobalData Retail (formerly Conlumino). Neil analyzes a number of things connected to retail, including shopper behavior and trends, channel dynamics, brand preferences and more. We asked Neil about his thoughts on ecommerce vs. brick-and-mortar, as well as the trends he thinks will make the biggest impact on the industry in the next five years.

Check out what he had to say:

1. How much is ecommerce or Amazon *really* to blame for the poor performance of several physical retailers — particularly department stores?

There is no doubt that Amazon has been disruptive, it has been one of many competitive forces that have reshaped the retail environment. These have raised the bar for all retailers and have made doing business faster-paced and more challenging. Arguably, Amazon’s acceptance of lower margins has put the squeeze on many other retailers who have had to reduce prices to compete.

However, as much as all this is true, Amazon has also become a catch-all excuse for all manner of retail ills. This is largely unjustified and does not stack up against the data, especially when it comes to the department store sector.

Collectively, customer numbers and the market share of department stores has waned. The interesting point, however, is that Amazon is not the primary beneficiary; other physical retailers like TJX, Ulta, and the own-brand stores of premium players have gained more of department store losses than Amazon.

The reasons behind the defections are also revealing. The vast majority of those no longer shopping at department stores have left because the product, store environment, or service was not up to scratch. In other words, department stores have pushed their customers away much more than Amazon — or any other retailer — has pulled them away.

Key takeaways:


  • While Amazon has pushed many retailers to compete on price and convenience, it isn’t the primary reason why consumers have stopped shopping at physical retail (i.e., department) stores. GlobalData’s findings indicate that consumers are flocking to other physical retailers like TJX and Ulta.

  • What’s the reason behind the deflections? According to Neil, the top three reasons for spending less at department stores in 2016 were lack of interesting products and services, uninspiring shops, and an unpleasant shopping experience.


  • In other words, market share isn’t being stolen by external forces like Amazon. The factors driving shoppers away from department stores and still within the retailers’ control.

2. Can you give examples of brick-and-mortar retailers that are doing well? What are they doing right and what do they have in common?

Despite the negative headlines, there are a surprising number of physical retailers performing well. Many of these are discount focused and include TJX, Ross, Dollar General, Dollar Tree and Burlington.

The appeal here is primarily good value for money — they give the consumer a lot of bang for their buck. However, in the case of players like TJX, the constantly changing assortment and treasure hunt nature of the store also provides entertainment and a reason to keep visiting.

In spite of its size and maturity, Walmart is also doing well. Walmart is a very solid retailer with excellent retail disciplines; it is also improving the shopping experience and investing in new formats, businesses, and initiatives. It serves as an example of what can be done when entrepreneurialism and a culture of change are rooted in a corporation. Target is also starting to produce better store numbers, mostly driven by its newer shops; these are much more experiential and engaging for shoppers.

Outside of some of the price-focused players, middle and premium retailers are also thriving. Sephora, Ulta, and Lush are all growing strongly and taking share. Excellent store experiences, the integration of beauty services, and a good omnichannel approach have helped all three. Coach is now doing better which is largely down to improved product and a better in-store experience.

Although these retailers are different, the thing that ties them together is evolution. None of them have stood still; they have all adapted and innovated in the face of consumer change. That stands in very direct contrast to retail dinosaurs like the department stores.

Key takeaways:


  • Who is taking market share from department stores and underperforming retail? Discount-focused retailers such as TJX, Ross, Dollar General, Dollar Tree, and Burlington because they offer great value for shoppers’ money.

  • In the case of TJX, the retailer is always freshening up its assortment, and so shoppers experience a “treasure hunt” whenever they’re in the store.

  • But many middle and premium retailers (e.g. Sephora, Lush, and Ulta) are doing well, mainly because of their beauty services and omnichannel approach.


  • The common denominator with all these retailers? All of them have evolved, innovated, and adapted to the changes in the market.

3. Where do you see retail going in the next five years? What can retailers do now to prepare?

Over the next five years, retail will become more digital — although the vast majority of sales will still go through stores. This ultimately means omnichannel — creating a seamless customer proposition across the various channels and routes to market will be vital.

The rise of digital will also drive changes in the approach to store expansion and growth. The days of one-size fits all store model are fading, and the future will require a more flexible approach with a variety of store formats designed to address different locations and markets.

There will also be an increasing polarization between those retailers that focus on value and price, and those that concentrate on added value. For the former, automation will become a more significant part of the business model. For the latter, service and experience will be the order of the day.

Above all else, success in retail is as much about innovation and future thinking as it is about running the core business well. This requires a cultural change from one focused on processes to one focused on entrepreneurialism and ideas. For many traditional players, this is arguably one of the most difficult things to accomplish.

Key takeaways:


  • Expect one-size-fits-all (i.e. traditional) store formats to decline. Retailers will increasingly establish a variety of store formats to address the needs of different



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3 Simple signs your business is ready for a payments platform

September 26, 2017 0

Collecting payments earlier to help manage your cashflow is one of the most important aspects of any business. This is one area where technology can make a huge difference.

So what are the signs that you should consider an integrated payments platform like simPRO Payments?

1. Escalating debt or administration costs

If chasing late payments is taking up more than 5% of your time as a manager, or administration staff are spending more than 30% of their time chasing payments, you need a payments partner.

While some clients will always be stubbornly resistant when it comes to paying their bills, others simply don’t have an easy way to settle their accounts. By making it easier for your customers to pay, a payments partner can free up both your time and your staff’s time to focus on more productive tasks.

2. Your average collection period is worse than average

Outstanding payments, or ‘Accounts Receivable’, can be one of the most significant assets on an organisation’s balance sheet. As a percentage of total assets, accounts receivable has been estimated to constitute 20% for large organisations and 30% in small/medium sized organisations.

A recent study found that the average amount of time it takes for an invoice to be paid in Australia is 26.4 days overdue – the worst of any country in the world! In Mexico, the second-worst offender, that figure is 18.6 days overdue. Compare that with Japan, where on average invoices are paid 6.5 days early.

If you don’t already track it, you should be fully aware of your Average Collection Period (ACP). If you are unsure on how to work it out, get your accountant to create a report.

While there is no definitive guide to what is a ‘good’ or ‘bad’ ACP, the Australian average should be a starting benchmark. If you are outside this average you need to look at what is causing payments to be so slow and investigate in solutions, including partnering with a payments company.

3. Your interest bill is climbing

One of the most obvious signs that your cashflow is being impacted by late payments is the amount of interest you pay when borrowing money to fund your day-to-day operations.

Most businesses will often have some sort of overdraft facility that allows them to meet their obligations while they wait for their outstanding payments to come in.

While interest rates are falling, this interest bill should be getting smaller. If you are paying more interest now then you were a year ago, it is probably because your debtors have been extending their payment terms.

Is it time?

While every business is different, these are just three simple ways you can use to identify and measure the impact of late payments on your business. The solution to these problems is never simple, but partnering with simPRO and making it easier for clients to pay should be the first step.

To help, NECA SA members use simPRO job management software for free!

As a NECA SA member, you’re eligible to receive one simPRO Service office licence and one simPRO Connect field licence free for the life of your membership. A saving of $1176 per year!

Terms and conditions apply. Please see the website for details.

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Four signs it’s time to systemise your staff roster

August 29, 2017 0

To be successful in business, you need to be organised, have a clear plan for where you’re headed and be confident with the processes you have in place. 

When it comes to managing staff, it’s important to have great rostering practices. If you find yourself struggling through workflow processes week to week on an ad hoc basis, it’s probably time to consider a rostering software solution.

Here’s four signs that you need to rethink your current roster system.

Your staff don’t always turn up

 If you’re consistently having no-shows, then it means that your current system isn’t working. Regular complaints from staff about inefficient rostering processes include not knowing when they are supposed to be working, not being told by their supervisor about upcoming shifts and not being able to see a copy of the week’s schedule.

 You don’t know who is working

As an owner or manager, you should be clear and confident about who is working, when their shifts are and what roles they are expected to complete. If employees can swap shifts without consulting you, or make arrangements without your knowledge, then it’s very hard to keep track of them.

You’re still using a spreadsheet

While a spreadsheet is often the go-to for managers, they aren’t fit for purpose when it comes to creating a functional roster. They are difficult to share with employees, make communicating changes tough, and often sit on only one computer. A modern business requires a modern rostering system.

You’re not sure what your wage costs are

A successful business will have a clear understanding of the budget it is working towards, and what percentage of that budget is wage costs. ‘Hopefully we’ll reach budget’ isn’t enough to be competitive in the hospitality and retail industries.

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Using data to drive innovation

August 29, 2017 0

The power of computing and the internet allows us to analyse data, work smarter and plan for the future.

A hospital can drive innovation by using data from patients to reduce their average stay. School students can improve their learning levels by data from an online resource that encourages a fun learning experience.

Collect data without breaking the bank

You can use ‘little data’ techniques to gain insights into your customers and your business. For example, an ice cream vendor could look at the weather forecast and increase their staff levels on that day to target customers beaches and parks.

Here’s some ways you can use ‘little data’ in your business:

  • Use the internet to research spending patterns and trends in your marketplace.
  • Use cloud-based computing tools to access resources that analyse your data.
  • Consider running a promotion that allows you to survey your customers and ways to improve your business.
  • Develop a market research checklist to find out about economic and industry trends, customer needs, newly-released products and what your competitors are doing.

Find out more

  • Read about how to find the competitive edge that your businesses must harness in our updated section on research and innovation.

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Supply Chain Risks and Inventory Management

August 28, 2017 0

Staff can get injured, delivery times can be delayed, goods and delivery vehicles can be lost, damaged or stolen, and weather conditions may require a detour.

These disruptions may require changes to inventory in the form of ordering more stock, changing freight services and even rethinking your supply chain design all together. These variables must be considered when attempting to manage supply chain risks. Below, we summarise how you can exercise some control over these types of disruptions.

Types of Supply Chain Risks

Supply chain risks come in a variety of different shapes and sizes. Internal supply chain risks include manufacturing risks, business risks, mitigation and contingency risks and planning and control risks. These types of disruptions are usually easier to resolve since they are within your control to some degree.

External risks are more difficult to resolve since they can be largely out of your control. They include things like demand risks – confusion with orders or unpredictable demand levels; supply risks; environmental risks and business risks such as changes to your supplier’s availability or reliability. You should also consider the physical plant risks that may come with relying on a specific supplier.

Understanding the Risks

In a recent study, researchers found that it is crucial that executives have a solid understanding of all of the risks that can occur at every stage of the supply chain. This knowledge will allow executives to be proactive in developing preventative methods for discovering supply chain disruptions as quickly as possible. The study found that the more time that passes before the disruption is identified, the worse the knock-on effects for the firm.

By understanding the interconnectedness and sheer variety of supply chain risks, managers can tailor balanced and effective risk-reduction strategies to avoid costly mishaps.

Resolving the Issue

Executives not only need to be proactive when dealing with supply chain risks, but also reactive. If preventative measures fail and a disruption is discovered, it is essential that executives take immediate action to encourage a quick recovery. At this stage recovery is important to prevent the disruption from impacting their operations, or worse yet, their major customers.

Looking Ahead

After a disruption has been identified and resolved to the best of your ability, it is crucial to learn from this mishap to prevent the same thing happening in the future. Executives may need to reassess and even redesign their supply chain system, to reduce or eliminate the possibility of the disruption ever occurring again.

Executives should develop dynamic tools to deal with supply chain risks at the individual level, as a single static model applied across all stages will not suffice. These tools should have global enterprise scope for enterprise redesign considerations, and would ideally provide solutions in real-time.

Companies who have already established contingency plans and visibility solutions, as well as excessive buffers such as inventory safety stock or extra capacity will be able to recover more quickly.

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Work from Phone: 5 Ways to Use Your Mobile Device to Run Your Retail Business

August 28, 2017 0

This innovative tech has made retailers’ lives easier in a myriad different ways. It’s freed them from having to constantly be in the store, allowed them to save time by automating tasks that were once entirely manual, and given them easier access to performance data that enables them to grow faster and increase success.

But even though tech and mobile devices are inseparable from our contemporary way of life, it can still be difficult to know how to fully take advantage of everything they have to offer when it comes to your operations. The whole point of using mobile devices to run your retail business is to make your life easier — to allow you a better work-life balance and to foster adaptability and flexibility within your professional operations.

In this post, we’ll share 5 ways you can do just that. Read on to learn new tips to increase efficiency, streamline your tasks, and set yourself up for retail success!

Do business in the cloud.

For retailers, the cloud is a complete game-changer. When it comes to running your business, the cloud has 4 huge advantages:

  • Flexibility. Most cloud-based tools and apps allow you to access them from your mobile device, offering unprecedented flexibility and portability. Instead of confining you to the counter or to one spot within your store (or to your store at all, for that matter), they free you to move around and bring a better experience to your customers.
  • Streamlining. The cloud unifies your operations by allowing you to manage everything from one platform. It saves you tons of time and allows you to run on the same level as other modern retailers.
  • Remote capabilities. One of the biggest advantages of running a retail business in this day and age is the ability to work remotely when you need to. By doing business in the cloud, you’re giving yourself the option to run things from wherever you are — be it seaside or at the breakfast table.
  • Fewer errors. The cloud lets you host every piece of business data in one place and manage all your systems from one location, cutting down on double-entry and minimizing the potential for human error. This in turn increases your efficiency as an organization.

Integrate different applications to reduce double-entry.

If you really want to take full advantage of using your mobile device to run your retail business, you should look into integrating the different applications you use (employee scheduling, accounting, POS, etc.). It’s important that your various tools “talk” to each other, as this ensures the smoothest and most comprehensive business functioning and prevents you from constantly syncing information across apps.

But how specifically do integrations help you run things?

  • Less manual work. When your apps are talking, you have to do less work to get across all the different aspects of your business, and the need for double-entry evaporates — saving you time and making you more efficient.
  • Cleaner operations. In the same way that doing business in the cloud streamlines your business, integrating your applications results in cleaner operations across the board.
  • Simplicity. App integrations simplify the number of moving parts you’ve got going on in your business. And anything that’s simpler makes your life easier!

Empower your team with apps that make their jobs easier.

Help your team by empowering them with apps that enable them to do their jobs to the best of their abilities.

A perfect example?

Counter. Counter is Vend’s free mobile inventory barcode scanner app, and it’s designed to take the pain out of inventory management by eliminating manual data entry.

Counter functions as a complete mobile counting solution, and you can use it on its own or integrated with Vend. It allows you and your employees to perform inventory counts (full and partial) — all straight from your iPhone, iPad, or iPod Touch.

Other app types to consider? The ones for whatever tools you use for accounting, loyalty, and scheduling.

Use mobile-friendly reports and dashboards.

Another area where your mobile device can help you run your retail business? Reporting.

Many cloud-based tools offer intuitive, easy-to-use mobile dashboards, as well as mobile-friendly reports so you can check on your business from wherever you are. This portability is another way of allowing you to choose how much time you spend in-store and letting you foster a better work-life balance.

Cut the cord: opt for mobile-friendly hardware.

The main advantage of mobile-friendly hardware (think portable printers, barcode scanners, iPads)? A better customer experience.

When your hardware can go wherever you go, you can actually bring the shopping and checkout experiences to the customer rather than standing fairly uselessly behind a counter. This allows for better conversation and engagement, faster purchases, easier data gathering, and less overall friction.

All that nets you stronger relationships with your customers, which in turn leads to increased loyalty, greater brand awareness, and higher profits.

Wrapping up…

Here are the 5 tips we’ve just delved into that can help you run your retail business from your mobile device.

Do business in the cloud. This gives you more flexibility; streamlines your operations; lets you work remotely when needed; and minimizes the potential for oversights and human error.

Integrate different applications to reduce double-entry. This results in less manual work and makes your job easier by virtue of simplification.

Empower your team with apps that make their jobs easier. Help your employees help you by providing them with effective tools, such as Vend’s free mobile barcode inventory barcode scanner app: Counter.

Use mobile-friendly reports and dashboards. This enables you to check on your business from wherever you are, increasing your flexibility and adaptability.

Cut the cord: opt for mobile-friendly hardware. Create a better experience for your customers by bringing the checkout to them.

Do you currently use your mobile device to help you run your retail business on a daily basis? If you do, let us know in the comments — and leave your tips so your fellow retailers can benefit from them!

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SMEs and Globalization: A Changing Landscape

July 29, 2017 0

In this era, even small businesses can easily compete on the global stage. The internet has opened up opportunities for small businesses to export their products to foreign markets and to cut out the middleman when procuring inventory across borders. Here are some of the key ways that globalization has changed the landscape of small business:

Market Access

The free trade revolution sparked by the establishment of the World Trade Organisation in the mid 1990s has opened up opportunities for businesses to sell their products to a wide range of overseas markets. Businesses are afforded a much larger market reach. Many export markets are particularly lucrative, but even where this is not the case, global market access still allows smaller businesses to diversify and spread risk.

Increased market access is a double-edged sword however. Reducing trading barriers in export markets only works if barriers are reduced in your home market too, so small businesses have faced increased competition from competitors abroad.

E-Commerce

Coupled with trade liberalization, the internet allows customers to purchase consumer goods from merchants all over the world. Export-focussed businesses benefit from increased consumer reach. On the other hand, local businesses, particularly those selling consumer goods, must now compete with retailers from across the world. While local retailers will win out for urgent goods, consumers have shown that they are not adverse to ordering goods online, even if that means waiting a few days or weeks for shipping.

Strong Price Competition

Globalization has created ripe conditions for large businesses, particularly those operating in low cost markets, to compete strongly on price with local firms. The ability to compete is only barely offset by slightly higher shipping costs (and in many cases, large scale overseas suppliers can ship for less). This effect is exacerbated in many markets by de minimis tax rules, which do not impose GST or VAT on low value imports; New Zealand, for example, does not charge GST on imports under $400. On the other hand, local businesses enjoy no such tax benefit.

Opportunities to Outsource

A positive for many small businesses is the advent of remote working and virtual teams. Globalization, particularly real-time communications, has made it possible for businesses to hire or contract workers from around the globe. While this increases the availability of talent in many markets, it also reduces small businesses labour costs. Freelance resource is scalable, which is useful for very small businesses that may wish to avoid the risk or overhead of employing several staff. Freelance services also create an opportunity for busy, stressed out small business owners to delegate out discrete tasks, allowing them to focus on growing the business.

“Unleashed’s integration with Salesforce means we have a complete cloud-based solution that is cost effective, available anytime and anywhere.”







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The Benefits of Cloud-Based Software for Manufacturing Businesses

July 29, 2017 0

In fact, a recent survey conducted by research and consulting firm MintJutras found that Software as a Service based applications amount to 22% of all manufacturing and distribution software installed today and, crucially, that this percentage is predicted to grow to 45% within ten years. Let’s survey the primary ways that cloud-based software can help manufacturing business succeed.

Forecasting

Many cloud-based systems can be used to track real-time supply chain information, making it easier to gain approval to access data behind firewalls. It is difficult to create accurate forecasts with only a portion of the data available, and this may hinder your ability to make good business decisions. Increasing your forecasting accuracy with cloud-based systems can enable you to develop algorithms for your product categories to help meet the demands of your growing business.

Efficient inventory management

Holding the right amount of inventory to meet demand is crucial to the success of any manufacturing business. Stock shortages can cause huge knock-on effects and ultimately, decrease productivity and profitability. Cloud software can allow you to track inventory in real-time to prevent product shortages, avoid missed sales and retain your customer base.

Using cloud-based systems can also make it easier and faster for visiting partners or suppliers to access inventory data. This means that partners and suppliers can simply use their own device, such as a tablet or mobile phone, to check on inventory or to send out a client report rather than having to gain access to files behind a firewall. This will generally make manufacturing processes more efficient and less time-consuming.

Better customer service

Cloud-based systems can remove the need to have customer service personnel in any one location at a time. Staff can handle customer inquiries and other functions without having to be onsite as they have access to all the necessary information in the cloud, easily accessed with a phone, tablet or laptop. This makes for faster resolution of customer queries and encourages customer satisfaction. Some cloud-based systems may also allow customers to keep track of their orders and oversee the status of their purchases.

Industry trusted inventory management solution

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Improved marketing

Cloud-based software can also remove the need for time-consuming face-to-face meetings and collaboration groups, since all of this can be done using the cloud. A cloud-based marketing system can allow you to manage the marketing process, exchange notes, get status updates and get real-time statistics and feedback without the additional time-wasting.

Back ups and updates

Cloud-based systems are a safe way to store your business information, since even if all the devices in your warehouse crash, you are virtually assured not to lose your data. Without such software, you risk losing vital manufacturing information and data due to IT glitches or an external disaster.

Cloud-based software ultimately allows your business to spend less time maintaining on-premises hardware and software. The cloud gives managers more time to invest in new products and grow the business, improving productivity and profitability overall.

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