Inventory Management for Growing Businesses

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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Why Engineering Projects are so Expensive

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

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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Markets, Inflation, Recession & What Comes Next

Disclaimer: None of the following is legal or financial advice in anyway, and such advice should be sought from a legal and/or financial professional.

Despite what some may believe, there are few things more divisive or as important as money. After all it is the very lifeblood of entire economies, businesses, livelihoods and for many their personal dreams, goals and ambitions.

Its pretty safe to say that when it comes to money, and the markets, things seem to be in a pretty big mess at the moment. Fear and greed are rife, Supply and demand are out of balance, policy makers are … at the core of every major market and economic move, and some of the decisions just simply don’t even seem to make the smallest bit of sense.

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Hurricane Ian Just gave us a wakeup call

Before I start I should say I don’t live in a tropical area … I have never lived through a cyclone, typhoon or hurricane. I can’t imagine what it would be like to live through the absolute fury and unimaginable energy that nature has the means to unleash. Everything from here on, is what I would like to think is a balanced perspective on the warning that nature just gave us and an opportunity to avoid some painful future lessons.

There’s no way around it, technology and engineering have become extremely closely tied to politics – particularly when it comes to energy. There is a global rush toward going ‘Green’.

It is a personal view point of mine that the transition to renewables isn’t as ‘utopian’ as the lobbyist claim. Many of the analysis only look at the product, not the end-to-end cost of production through to end of life recycling or disposal. The point is everything is skewed … to an extent even this perspective. That’s how balanced I can try to be.

But Hurricane Ian should be regarded as a case study & warning in how quickly infrastructure can be repaired in times of natural disaster. Here’s why.

Energy is life!

There is nothing more to say about it. Energy underpins every part of modern, western & 1st world life. So when nature comes barreling in at category 4 strength, winds at >240kp/h (>150mp/h – freedom units), horizontal rain, storm surges, floods, flying debris … I just saw the reports … not much is left standing.

But the when the storm passes, it’s time for the clean up to begin. Now the real (industrial) problem starts. You see the power is out, transformers have blown, lines are all but gone … wind turbines are damaged, unbalanced or even toppled, solar arrays are heavily damaged or even blown into the updraught … energy generation capacity has been smashed.

I cannot and will not claim to know any statistics about the scenario above, but it has to be said that this is a point of civil consideration.

The utopian view of 100% renewable energy, stable and ideal weather patterns is a pipedream. Tropical storms have existed before man walked the earth, they are literally a force of nature. No amount of politics or industrial transition will change it. The naivety is absurdly worrying.

When the lights go out, water gets cut off … we have to go back to basics. Water needs to be boiled, fridges need power, transportation and plant equipment needs to run. When the solar cells on your roof have been ripped off and you the grid is down, unless you have batteries, you’re going to be a pretty poor situation.

Remarkably, the gas powered generator that didn’t get flooded or destroyed outright, works …. Or sputters to life with the help of a screw driver. Now … you can start to act. Now you can buy yourself some time, and you can bring fuel in a container to keep it going.

Related: Its time to talk about energy.

This here isn’t about wanting to politicize a natural disaster or use it as an opportunity to demonize renewables, that is not the intent here. it is about reminding all of us, that nature can throw more at you in a day that you will ever throw at her in a hundred lifetimes, and that our future requires far more consideration involving present day conventional solutions, rather than placing all our bets on a future that will take no less than two decades to build … and a future that can be taken away in less than a week.

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