Category: Leadership

Are you running an eCommerce portal? Are you a manager or supervisor in a factory where large numbers of small tools are used by workers? No matter the nature of your business, inventory management is a crucial aspect of the business.  It has a big impact on the way raw materials or tools are ordered, stored, and used. If you have good knowledge about the inventory, ordering and manufacturing become smooth and seamless without any wastage. In this article, we shall understand how technology can be used to effectively manage your business inventory in a more organized manner. 

RFID Technology

Radio Frequency Identification is a technology that makes it possible for each product in different categories to be located and tracked easily for better inventory management. RFID tags have become very popular and benign used in all sorts of industries for seamless inventory management today. In this system, a radio device is tagged to each product in the retail store or warehouse, and products are individually scanned for quick and simultaneous data entry into a computer. This technology obliterates human counting that is full of errors as it is digital. 

Use of Tool Management Software

In industries where large numbers of small tools are used and also shared by multiple workers at different locations, it becomes a headache for the manager to keep track of these tools. To help business owners, many tool tracking software is available in the market. As the name implies, such software identifies the location and quantity of tools with the help of an in and out barcode scanner Businesses can choose from a wide variety of tool management software available in the market according to their requirements and features of the program. 

Using Robotics for Inventory Management

Autonomous robots are being used inside large warehouses to perform picking and packing functions these days. Smart robots work in conjunction with software to make warehouse management smooth and hassle-free. Joint ventures between robot manufacturers and warehouse management software makers are coming up with tailor-made solutions for inventory management for warehouse owners. Large e-commerce portal owners are benefitting from this new technology as they are finding it easy to handle large volumes of orders. These advanced robots are capable of performing complex functions such as personalized packing and more efficient shipping. Customers are free to choose custom software and robots to receive the desired level of inventory management. 

Barcoding Technology

Barcoding individual products in different categories is an old but highly effective technology of inventory management in a retail store. When you go to a shopping mall, you find a sticker carrying a specific barcode attached in the form of a sticker to every product. The product gets scanned at the time of making an invoice and automatically deducted from the inventory of the store to enable the owner to know the number of products in all categories at a glance.  The gun or the physical scanner is always synchronized with inventory management software installed in a computer. Computers at different locations are connected to the main computer with the help of the internet to allow the business owner to know the accurate condition of stock at any point in time.

Techniques of Inventory Management 

Besides modern technology, many interesting techniques of inventory management are used by businesses to avoid overstocking, spoilage, and overspending on the storage of stocks. These techniques help in improved cashflow as capital is not locked on excess inventory. Through improved and more efficient inventory management, a business can achieve higher sales and more profits. Some of these techniques are as follows.

• Setting par levels
• First In First Out (FIFO)
• Management of relationships with suppliers
• Regular auditing
• Prioritizing products based on their value

Inventory management is as important as the sale and shipping of products in any business. Inventory management can be made smooth and efficient through the use of technology. You can choose the technology and technique of inventory management according to your budget and specific requirements.

We live in a world of constant technological advancements. Many jobs that previously required human hands have been replaced by robots. Daily activities are becoming automated. 

The emergence of COVID-19 has accelerated this transformation. In Walmart, several cashiers will be replaced with self-checkout kiosks to cut the cost of manpower. It makes you wonder, do we still need a human workforce? 

The Importance of Workforce Planning

The answer is yes, a human workforce is still very necessary. This is because some jobs require the care and thinking capacity of a human brain, something that hasn’t been completely replicated in technology. 

If you have a workforce, it is important to manage them properly. This is called Strategic Workforce Planning. Increasing digitization means the availability of talent in a specific skill set is lower than before. Business organizations need to be able to have access to the right capabilities and skills at the appropriate time.  

Successful Strategic Workforce Planning is made of three stages; reviewing, planning and measurement. For review, it is important to look at the needs and talents you already have access to. This pertains to inside the business and in external talent pools as well. 

Next, you can develop a resource plan focused on the critical roles in your organization. If there are any skill gaps, find solutions to address them. Determine if you need to train or reassign current staff, maybe you might need a new recruit. 

Finally, you need to measure the success of your planning. You need access to relevant data to help you review the success of your plan or make changes where it is necessary. 

Why Do We Need HR Operations?

Now, we see the importance of the workforce and workforce planning. Who initiates this planning? The ever crucial Human Resources (HR) Department of course. 

Sometimes, the HR department is considered the cold, unsympathetic extension of the executive management. They even view HR as supporting managers and not regular employees they can relate to. 

To resolve this, proper Human Resources Management is important. It is the key to an employee-oriented productive workplace. This department is the backbone that supports all the aspects of the organization. 

The HR Department has many tasks; they monitor work culture, manage talent, recruit a superior workforce, research and implement employee benefit programs, and develop workshops or team-building activities.  

Even in a small business environment, Human Resources play a pivotal role in developing a positive work culture. One way to make sure that this department can work efficiently is to have the proper software. 

Why Do We Need to Use HR Software?

In a nutshell, HR Software is a specific online platform that combines different processes and systems to ensure the accessibility of employee data. It typically includes payroll management, benefits, administration, and attendance record keeping. 

In a small business environment, HR software can be viewed as a luxury. It is the opposite though, in modern business environments having this software is considered a necessity. It has become more cost-effective and it is feasible for small businesses to use. 

How Can Software Help with HR Operations?

There are many benefits when you use HR Software. It gives you Cost Savings by reducing employee turnover and ensuring their needs are taken care of. 

It also Saves Time for your HR staff. If they are constantly inputting menial data by hand or making phone calls, then they won’t have time for things that matter like enforcing company policies or handling legal issues. As stated by the experts from EnableHR, HR Software also gives you more accurate insight into data. You don’t have to rely on your human limitations of overlooking or forgetting important details. 

Contrary to common belief, HR Software is also very Cost Effective. The best packages have monthly memberships that can work with even the smallest startup budget. The amount of money you lose to human error is still higher. 

What You Should Look for in Quality HR Software

The market for HR Software is huge. Not all of them are the same and you need to narrow down your options to get the best quality output. 

A Cloud Platform is very useful. You don’t need to install anything on your computer and your data is safe. It stores all your employee records and it has Sharing Features for easy access to data. This means you don’t even need to be in the office to access information. 

You must also look for Scalability in good HR Software. This means you only pay for what you need. When more access is necessary, you just upgrade the system without having to pay for anything extra. 

The last thing to look for is the Self-Service Features. It provides a centralized portal that employees and HR Staff can access. It is automatic and saves the staff time by removing the need to constantly check and reply to the same emails. 

Even though technological advancements are never going to slow down, business organizations are dependent on the human workforce. HR Software can help combine the two by making HR Operations more efficient for the staff and the employees. It is a good investment for a business, no matter how small.

Employees in any industry or workplace have lawful employment rights. It is important to know and understand your rights regarding work conditions and pay so you can determine if you are being treated fairly. As an employee, it is your right to feel safe in your work environment, be provided with the necessary equipment to get your work done, and receive all your entitlements. It is your responsibility to know what you are entitled to, avoid hurting others in the workplace, and know and meet what is expected of you. Read through this article to find out what you need to know about your employee rights.

Understanding Your Rights

As an employee, it is your duty to understand your rights and know the laws that protect you. Some employees who don’t know their rights may be subject to harassment, manipulation, and exploitation. Knowing your rights will benefit you from the protection the laws offer. If you have any questions regarding your rights as an employee, you must refer to your workplace’s Human Resources department or the Department of Labor office.

In Case of Violation

If you believe that a violation of your employee rights was made, it’s essential to take notes and keep records and proof of this violation. Appoint an expert on employment laws, or an attorney, to ensure that you are served justice. Additionally, you are entitled to discuss these violations with your supervisor without fearing penalization. Suppose you communicated a breach and have been discriminated against by someone at your workplace. As a result, documentation or proof of this will further strengthen your case in court. 

Job Applicant Rights

Individuals in the workforce are granted rights even before they are employed. Job applicants are entitled to protection from age, race, gender, religion, or ethnic discrimination throughout the entire hiring process. If a violation of these rights has been made, the individual should seek justice and take legal measures. 

Employee Rights

Employment laws are enforced to ensure that employees feel safe in their work environment and protect them from any potential injustices. 

Discrimination

Any employer is prohibited from discriminating between employees based on religion, race, gender, or ethnicity. An employer is not allowed to fire, discipline, refuse training and promotion, demote, pay less, harass, or refuse to hire employees on these bases. They are not allowed to enforce policies that impact a certain group of people differently. Employers are required to pay men and women who perform the same work equally. Employees with disabilities are entitled to equal rights and reasonable accommodation to their disability. 

Wrongful Termination

It is illegal for an employer to fire an employee for no good reason unless the employee is hired under an “at-will” contract. However, in that case, an employer can’t violate the employee’s contract, fire the employee for discriminatory reasons, or terminate them because they retaliated. An employee who spoke up or reported a certain violation, harassment, discrimination, illegal activities, or the inability to meet safety laws should not be fired for raising these issues. 

Fair Wages

Wages vary from one area in the world to another. However, you must read up on the laws regarding wages in your city’s Department of Labor. In some areas in the world, you are entitled to be paid for overtime if you are a non-management employee in certain industries and earn less than a decided amount of salary. You should always receive the minimum wage you are entitled to, even if you are in training. However, your employer can pay you less in some places if you receive above a certain amount of tips. If you are pregnant, make sure to ask about the laws regarding paid and unpaid maternity leave in your area.

Safety

Your workplace must be free of any hazards and follow all health and safety laws and requirements. Individuals should always feel safe and that their privacy is not violated. They should not fear being harassed or discriminated against or be worried that they may get penalized if they voice their concerns regarding some issues. 

All employees are entitled to rights and fair treatment regardless of their occupation. If an employee feels violated, there are many laws in place to ensure that they are served justice. However, many employees are unable to take advantage of this protection and may be unaware if they are being violated because they lack sufficient knowledge regarding their rights. Just like it’s an employer’s duty to remain righteous to all employees, it’s an employee’s responsibility to be educated on their rights. 

Insurance benefits are typically what attract quality employees. Compared to individual insurance, you’ll find that group insurance can be more helpful for you and your employees. If you’re thinking of improving your package or the insurance service you offer to your employees, there are many factors to take into consideration first, like budget, typical employee needs, medical benefits, and which group insurance can help you achieve the best coverage. To know who can benefit from group insurance, the following guide will give you a better understanding of that.

Employers Who Want to Reduce Taxes

Any astute business owner knows that they must have a good insurance plan in place for their employees, as that can reduce or even exempt them from federal and payroll taxes. Employer-paid premiums are exempt from these types of taxes. In addition to this, your employees’ pay will also be excluded from taxable income, which means that insurance can be quite profitable both for employees and employers. In fact, most American families have group health insurance coverage through their employees for that reason alone.

Employers Who are Looking for a Budget-Friendly Option

Life insurance doesn’t have to be out of your price range anymore. There are plenty of solutions available to you and group insurance is one of them. Depending on your needs and business goals, you can pay all, part, or even none of your employees’ benefits. Group life insurance premiums are also based on the assessment of a company’s risk over time. Reducing the risk by spreading it will bring group rates down, which makes group insurance the most affordable option for employers.

Employers Who Are Trying to Achieve a Large Risk Pool

One of the main advantages of group insurance, especially group health insurance, is the large number of people who’re receiving its benefits. Naturally, the more people you have included in your group insurance, the lower the prices you’re going to pay and, ultimately, the lower the financial risk you’ll have to shoulder. The group insurance specialists at GroupEnroll.ca explain that this type of insurance has the best of both worlds: lower prices and better coverage. Although you might find some people arguing against that fact, this might not be the norm for most employees in the US.

Employers Attempting to Improve Their Company Culture

Many employers consider that building a good company culture is all about creating a healthy environment that promotes the core values of life. Company culture is what motivates employees and increases their satisfaction, which is what most employees aim for through the benefits they offer to employees. Company culture should also help employees feel like they’re an integral part of the company and that they’re valuable. For that reason, you should offer your employees’ group insurance benefits that will show them that you put them first and are trying to provide them with a more secure financial future.

Employees Seeking Family Protection

If a household loses their primary wage earner, a negative emotional and financial impact is bound to affect the life in that household for a long time. If there’s no one or no financial resources that said a household can rely on, things may not turn out well. With group life insurance, an employee can rest assured that their family and loved ones are covered in case they pass away unexpectedly. . Financial safety, living expenses, or medical needs should be covered, which will omit any potential financial strain in the future. Group life insurance can be even used to fund a child’s education, which is why you’ll find many employees willing to take a job with that type of insurance.

Employees Who Are Looking for Dental and Vision Benefits

It’s not common that employees will find adequate dental and vision benefits along with the job, so that can be an excellent attractant to quality employees. With group dental and vision coverage, employees will have a choice to add more benefits without increasing their expenses. This happens because employees are willing to pay all the costs of voluntary benefits, but they won’t have to if they get the advantage of group rates, which can be offered through a new job with group dental and vision benefits.

Making the right decisions should be done while considering your benefits as well as your employees’. If you’re looking for top-quality employees, you have to ensure that you provide a top-notch benefits package. On the other hand, if you’re an employee, you’ll need to compare the benefits that each job offers before applying to know which one will suit your needs.

There are ways of protecting the company from future concerns of product liability before they arise. Despite enormous disparities, most companies have a similar concern about product liability, brick-and-mortar operations, and virtual storefronts. On your website, a disclaimer claiming that you are not responsible for issues would not protect you from being responsible for the product you sell. But don’t worry, before they happen, there are ways to safeguard your business, online and offline, from potential product liability issues.

The value of a comprehensive business insurance policy is recognized by most brick-and-mortar retailers. The store owner does not want to be on the hook for an expensive medical bill if a shopper trips and breaks an arm. They want to rest assured that maintenance costs are not going to ruin them if a storm roars in and blows the roof of the joint. In today’s writing, we will look closely at what product liability is and some proven risk reduction techniques. You’ll probably save yourself a lot of grief down the line by doing your due diligence.

What Is Product Liability?

Product liability is the responsibility for harm incurred by the product on the part of the manufacturer, supplier, or seller of the product. Product liability-related lawsuits are based on negligence, strict liability, breach of contract, or numerous claims for consumer protection. At the state level, most product liability laws are decided and differ from state to state. Claims for product liability negligence are generally those alleging a design fault, a production defect, or marketing defects due to failure to warn about a possible defect.

Product liability insurance can help compensate for legal costs, such as attorney fees and judgments against you if property harm, sickness, accident, or death is caused by a product sold at your business. You may face a potentially expensive claim depending on the seriousness of the harm caused by the product or how cantankerous the injured party feels, so product liability insurance can be extremely convenient to have. To defend yourself, let’s look at some of the strategies you should do.

Deal Only with Trustworthy Suppliers Offering Quality Goods

As most stores do in one way or another, if you rely on manufacturers and suppliers for your inventory, it can be tempting to go with whoever provides the best price. As a reference, don’t depend on that. The adage “you get what you pay for” might not always be true, but in most cases, it will do you good. Take the time to study the suppliers to make sure they are up to scratch with their credibility, manufacturing capabilities, and efficiency. Convince yourself why, if the price is suspiciously low. Chancing a product liability suit to save a few bucks isn’t worth it.

Have Your Website With a Detailed Terms and Conditions Page

The agreement on terms and conditions is a page on a website that sets out the rights and responsibilities of anyone who uses the website. A contract between the site and the user is effectively formed. Terms and conditions often include an explanation or definition of the key terms used in the terms and outline the legal limitations of the owner of the website’s liability for any damage or damage caused during the use of the site.

A disclaimer indicating that you are not responsible for any concerns relating to your product will not absolve you of any responsibility, but it is a good idea to include a transparent and detailed page of terms and conditions that contains some clauses of limitation-of-liability. As advised by experts from Salvi, Schostok & Pritchard P.C. Chicago, limitation-of-liability provisions limit what a consumer can get from you in case of a product complaint. In other words, you can place a limit on the amount of money that the unsatisfied consumer has the right to earn. Notice that this doesn’t mean it’s enforceable simply because you have a limitation-of-liability clause. It needs to be equitable, transparent, and conspicuous, and enforceability varies by jurisdiction even then. Still, it won’t do any harm to you.

Provide Detailed and Precise Descriptions of the Goods You Sell

The degree to which consumers can inspect and communicate with items is one apparent but substantial difference between online and brick-and-mortar retail. In the digital realm, up-close physical inspections are not feasible, meaning customers rely on e-commerce retailers to provide high-quality reliable explanations and images to help them inspect products and decide if they are secure or not. If you’re not careful, it can turn into one big headache and a whole slew of unhappy customers one minor mistake in the way a product is described or advertised.

Investigate and Comply With Legislation on Consumer Safety

Never leave a child unattended, for topical use only and includes mature subject matter. These are all examples of advisories on consumer safety or warnings offering information on the risks associated with such goods and services. It is vital to attract new clients to your business, but you need to follow a few rules. Make sure to provide health information on the packaging if you market food items. You should get them approved by a regulatory body first if you sell electronics and want to advertise their energy efficiency. Study the legislation for your business and make sure that all the boxes are ticked.

Purchase Independent Protections for Product Liability

If you feel that your company is especially vulnerable to product liability problems, you might want to look into buying separate insurance policies for product liability. Companies that specialize in offering compensation that protects against harm and damages resulting from all sorts of product defects to suppliers, distributors, and sellers. Insurance brokers familiar with product liability will advise you on choosing a risk-covering policy for you. Just make sure to find a good person that knows the organization you are operating.

Most merchants claim that product liability should not affect them because their product is not overtly harmful. This is a risky way to think. If you run an online store, both your customers and your organization must have a firm grasp of the potential risks. Merchants who neglect product liability are vulnerable to complaints, disputes, and litigation, leaving themselves no remedy but to take full responsibility. Hope this article has shed light on the importance of e-commerce’ product liability.