KEY STEPS INVOLVED IN DOWNSIZING Layoffs and downsizing are both terms that refer to reductions that companies  make in the number of employees on the payroll, although the term ”layoff” is used more often to refer to temporary displacement, while  “downsizing” generally has more permanent connotations. Other terminologies sometimes used […]

HOW TO SET AN INVENTORY STRATEGY An inventory is a detailed, itemized list or record of goods and materials in a company’s possession. The main components of inventory are cycle stock: the order quantity or lot size received from the plant or vendor; in-transit stock: inventory in shipment from the […]

THE IMPORTANCE OF INDUSTRY ANALYSIS Industry analysis is a tool that facilitates a company’s understanding of its position relative to other companies that produce similar products or services. Understanding the forces at work in the overall industry is an important component of effective strategic planning. Industry analysis enables business owners […]

KEY ELEMENTS OF DEBT COLLECTION PROCESS Debt collection is the practice of obtaining payments from customers for purchases that have been made on credit. Devising and maintaining an efficient and effective system for collecting on overdue accounts should be a priority from every business. But many companies fail to give […]

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