Managing Inventory is the second of a 10 part series reviewing the Top 10 IT concerns in 2018. In the last article we addressed the 10th largest IT issue and the challenges. We continue to look for ways to make your business agile.
#9 Business Issue: Managing Inventory Effectively
First of all, a well-functioning inventory management system, is crucial for successful business. Absence of this kind of system, can lead to the disruption of day-to-day business and the execution of fulfilling orders.
While Inventory management can be daunting, there are some very effective solutions. For example, Quickbooks Enterprise has tools that make management easy. You can get bin location tracking, barcode scanning, and FIFO inventory costing. There is a function for serial number or lot tracking that allows you to track inventory over multiple locations. As a result, a well performing system will keep stock costs under control –allowing your business to be successful.
Also, without an inventory management system, knowing when to restock certain items, what amounts to purchase or produce, what price to pay – as well as when to sell and at what price – can easily become complex decisions.
#9 IT Priority: HC/CI
Converged infrastructure (CI) brings the four core aspects of a data center -- compute, storage, networking and server virtualization -- into a single framework. Hyper-converged infrastructure (HCI) adds tighter integration between more components through software.
Virtual Desktop Infrastructure, or VDI, refers to the process of running a user desktop inside a virtual machine that lives on a server in the datacenter. Additionally, with both CI and HCI, you know for sure that all the components are compatible with one another. This way you can insure that your business has the necessary storage and networking to properly manage a VDI deployment
#9 IT Challenge: Finding Qualified and Trained People
Since qualified employees are key to a business running smoothly and efficiently. Therefore finding the right employees can be a challenge.
Yet, when it comes to profitability, small business owners have the most cheerful outlook in 13 years. Yet, identifying qualified workers is a big problem with small business hiring. This revelation is a finding from PNC Economic Outlook’s recent survey of small and medium-size business owners and executives.
On the employment front, 40% report it is harder to hire qualified employees today versus six months ago, with the biggest obstacle being lack of experience or skill.
Some 22% of respondents attribute the lack of hiring to doing more work in other ways like automation, artificial intelligence, or outsourcing—a compelling rise from 14% in fall 2017.
“With support from tax cuts and an increase in federal spending, U.S. economic growth will accelerate in 2018 and the labor market will continue to tighten,” Faucher stated.
So here are some general tips for finding qualified employees:
- Develop accurate job descriptions
- Compile a "success profile."
- Draft the ad, describing the position and the key qualifications required.
- Post the ad in the mediums most likely to reach your potential job candidates.
- Develop a series of phone-screening questions
- Assess your potential candidates for their skills and attributes using a proven assessment tool
- Run a background check on the individual to uncover any potential problems not revealed by previous testing and interviews.
Finally, at E-N Computers, our goal is to provide you with IT Peace of Mind. We do that by partnering with our clients to help them face these types of challenges. Because your business success is our success. Let us take your IT Challenges and turn them into IT opportunities.