Inventory Management for Growing Businesses

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8 Tips for Managing Inventory for a Growing Business

Written by Guest Author, Teresa Greenhill, from mentalhealthforseniors.com

When your business grows quickly, it can be tough to keep up with the demand. With more customers comes an increase in inventory. And if you’re not careful, that inventory can start to take over your workspace — and your life! That’s why effective inventory management is key for companies on the rise. Today, we discuss the importance of inventory management and offers eight tips on how to do it effectively.

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Market Volatility and Your Money

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You’d have to be living in a cave without reception to not know how expensive life has become or to understand how much less your hard-earned dollar is worth. Fuel is up, food is up, rent is up, rates are up … stress is up! And above all there is the need to keep up!

Saving is one thing, but when the hourly rate starts to barely scrape by keeping ones life and life style afloat something has to change. Of all times, the means to earn money and to make it work has never been more important.

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Why Engineering Projects are so Expensive

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Time and Time again, we often hear about and see news about various projects that are getting taken on … often with outrageous price tags attached to them. Most of the time, the price tag is mentioned merely as a footnote to the project or touted as the headline about how grand the project actually is.

At the more local level, a 6.4km stretch of road comes in at a hefty $156 Million (AUD) … $24 Million per kilometre. When we get to other or more exotic projects, the costs are just as impressive.

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The Nuclear Fusion Fantasy

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At the bottom of 2022 there was a key piece of news that probably went overlooked by many … the National Ignition Facility [NIF][1] in California achieved one of the biggest scientific milestones to date … the ignition condition for nuclear fusion.

So, what is ignition?

Ignition is defined as the state where the nuclear reaction becomes self-sustaining – also the point where the reaction produces more power than it takes to get going … the Q>1 state. [2]

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Is the Inflation Bubble About to Pop?

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With the last few sets of Inflation data coming in over the last few months, it does perhaps look like the worst of the inflation nightmare is behind us … the peak looks to have past. In Fact the last round of data came in at expectation.

But make no mistake … just because the peaks looks to have past, doesn’t mean that the economic picture has suddenly become nice and rosy. Let’s just rip the band-aid off … things aren’t good. The last year-on-year CPI figure (Dec 14’22) came in at +7.1%, up from +6.8% 12 months earlier. That’s still 14.4% in 2 years. Hell, the Month-on-Month number was still +0.1% … inflation is going up … still. [1]

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