Finance AVP Job Satisfaction

Work-life balance as a Finance AVP is a term used for the idea that an individual needs time for both work and other aspects of life (personal interests, family and leisure activities).

Our schedules are getting busier than ever before, which often causes our work or our personal lives to suffer. The compounding stress of Finance AVP from never-ending workday is damaging. It can hurt relationships, health and overall happiness.

The Consumer Power And Brand Strategy

The best work-life balance is different for each of us because we all have different lives and different priorities. Work-life balance doesn’t mean an equal balance. There is no perfect balance you should be striving for. At the core of work-life balance is meaningful daily Achievement and Enjoyment.

Consumer Behavior In Economics

When employees feel a greater sense of control and ownership over their own lives, they tend to have better relationship with management and tend to feel more motivated and less stressed out at work, which in turn increases company productivity and reduces conflicts.

Companies that encourage work-life balance have become very attractive to workers. These companies also tend to enjoy higher employee retention rates and more loyalty. Promoting balance is beneficial to both employees and companies.

We select our store locations. We select our staff. We select the merchandise to carry; and along those lines, we select our vendors. Selecting the correct vendors - in addition to managing these vendors during the selection process and beyond - can often be the difference between making your store profitable or simply providing real estate for the vendors to sell their goods. It is time to manage your vendors!

So... raise your hand if you have ever conducted a thorough Request For Proposal (RFP) process for you vendors. Anyone? In truth, not many have to the extent that you evaluate multiple vendors, creating competition for space in your store. How you manage the RFP process can and will set the tone for all your go-forward vendors. A well-thought out process to vendor selection, can provide real opportunities for you in the following areas:

Rebates: Did you know that vendors offer rebates based on product placement; rack allowances; product movement and other considerations? In some cases, the vendor receives manufacturing rebates that you need to ensure are passed onto you. The RFP Process ensures you identify and capture your fair share.

Incentives: The vendor is in your store for one thing - to sell their product. Meeting the goals of the vendors should only be achieved if they are aligned with your goals. What types of incentives do you vendors provide you in order to meet that goal? Work with the vendor to establish incentives for each party that foster alignment.

Deliveries: You pay for delivery whether you believe that or not. Manage the amount of deliveries to your store on a weekly basis so that you have enough inventory on hand, but not so much that you are paying full-load delivery fees for partial deliveries. You may want to consider adjustments based on seasonality.

Never Out of Basics: All stores carry that "MUST HAVE" product that you can never be out of - ever! Identify your "must have" products and ensure that you and your vendor have a clear understanding on the ramifications if any of these products are ever out of stock. Build in financial penalties for the vendor if you are shorted product on your core offerings.

Marketing: Identify programs and investments that your vendor partner will make in advertising and promoting their products. These should be managed in concert with your overall marketing of your store and determined jointly with the vendor to ensure their financial obligation, as well as timing.

Payment Terms: Standard policy is net 30 days, but have you inquired about discounts if you pay earlier? In some cases, the squeaky wheel gets the oil and if you are in a position to negotiate more favorable payment terms, do so.

Product Returns: Have you established a specific contractual obligation on product or damaged returns? Re-slotting fees and other incremental mark-ups by your vendor with regard to returned products could eat away at your gross profit. In addition, now is the time to establish the process for replacing damaged products.

Contract Terms: How long are you committed to this vendor and what are the "out clauses" in the contract should a better vendor come along? The best place to negotiate this is during the RFP process when the vendor is hungry for your business.

Mark-Ups: Every product you purchase comes with a corresponding markup - or the manufacturer/vendor profit. Most of these markups are determined by a category of products as opposed by the product SKU. Knowing your industry markup ranges by category will better prepare you in establishing the best cost structure for your product acquisition.

Conducting a thorough RFP Process is critical for establishing not only your pricing structure with your vendors but also in developing the process in which business is conducted. Remember, vendors are in YOUR store and it is up to you to determine the roles that each of them play. If you do not take control of your vendors from the onset, you will face an uphill battle within your own store. Or as Winston Churchill once said, "he who fails to plan is planning to fail."

There are many ways employers can promote work-life balance in office, some of which are: company outings, offering remote working and flexible hours, providing good health coverage, encouraging employee education.

Importance of Tertiary Sales Visibility in FMCG Industry

Selection Is An Elimination Process Explain

Empowering employees like Finance AVP to take control over their work and home lives can have a profound impact on their job satisfaction and performance, enabling companies to achieve success. Achieving work-life balance is a daily challenge. It can be tough to make time for family, friends, community participation, spirituality, personal growth, self-care, and other personal activities, in addition to the demands of the workplace.

How should the practice of business continuity evolve to manage the threats and opportunities faced by organizations today and in the future?

Business resilience is the ability an organization has to quickly adapt to disruptions while maintaining continuous business operations and safeguarding people. The CulturalManagement provides experts to partner with your organization and develop a comprehensive emergency preparedness and disaster management program.

We select our store locations. We select our staff. We select the merchandise to carry; and along those lines, we select our vendors. Selecting the correct vendors - in addition to managing these vendors during the selection process and beyond - can often be the difference between making your store profitable or simply providing real estate for the vendors to sell their goods. It is time to manage your vendors!

So... raise your hand if you have ever conducted a thorough Request For Proposal (RFP) process for you vendors. Anyone? In truth, not many have to the extent that you evaluate multiple vendors, creating competition for space in your store. How you manage the RFP process can and will set the tone for all your go-forward vendors. A well-thought out process to vendor selection, can provide real opportunities for you in the following areas:

Rebates: Did you know that vendors offer rebates based on product placement; rack allowances; product movement and other considerations? In some cases, the vendor receives manufacturing rebates that you need to ensure are passed onto you. The RFP Process ensures you identify and capture your fair share.

Incentives: The vendor is in your store for one thing - to sell their product. Meeting the goals of the vendors should only be achieved if they are aligned with your goals. What types of incentives do you vendors provide you in order to meet that goal? Work with the vendor to establish incentives for each party that foster alignment.

Deliveries: You pay for delivery whether you believe that or not. Manage the amount of deliveries to your store on a weekly basis so that you have enough inventory on hand, but not so much that you are paying full-load delivery fees for partial deliveries. You may want to consider adjustments based on seasonality.

Never Out of Basics: All stores carry that "MUST HAVE" product that you can never be out of - ever! Identify your "must have" products and ensure that you and your vendor have a clear understanding on the ramifications if any of these products are ever out of stock. Build in financial penalties for the vendor if you are shorted product on your core offerings.

Marketing: Identify programs and investments that your vendor partner will make in advertising and promoting their products. These should be managed in concert with your overall marketing of your store and determined jointly with the vendor to ensure their financial obligation, as well as timing.

Payment Terms: Standard policy is net 30 days, but have you inquired about discounts if you pay earlier? In some cases, the squeaky wheel gets the oil and if you are in a position to negotiate more favorable payment terms, do so.

Product Returns: Have you established a specific contractual obligation on product or damaged returns? Re-slotting fees and other incremental mark-ups by your vendor with regard to returned products could eat away at your gross profit. In addition, now is the time to establish the process for replacing damaged products.

Contract Terms: How long are you committed to this vendor and what are the "out clauses" in the contract should a better vendor come along? The best place to negotiate this is during the RFP process when the vendor is hungry for your business.

Mark-Ups: Every product you purchase comes with a corresponding markup - or the manufacturer/vendor profit. Most of these markups are determined by a category of products as opposed by the product SKU. Knowing your industry markup ranges by category will better prepare you in establishing the best cost structure for your product acquisition.

Conducting a thorough RFP Process is critical for establishing not only your pricing structure with your vendors but also in developing the process in which business is conducted. Remember, vendors are in YOUR store and it is up to you to determine the roles that each of them play. If you do not take control of your vendors from the onset, you will face an uphill battle within your own store. Or as Winston Churchill once said, "he who fails to plan is planning to fail."

When a Finance AVP spends the majority of its days on work-related activities and feel as if they are neglecting other important components of their lives, stress and unhappiness result. Thus, you must learn to draw a clear line between your personal and work time and set clear expectations with your colleagues.

Finance Managing Director Team Building For Employees

Work-life balance as a Finance Managing Director is a term used for the idea that an individual needs time for both work and other aspects of life (personal interests, family and leisure activities).

Our schedules are getting busier than ever before, which often causes our work or our personal lives to suffer. The compounding stress of Finance Managing Director from never-ending workday is damaging. It can hurt relationships, health and overall happiness.

The Naked Truths About Vendor and Contract Management

The best work-life balance is different for each of us because we all have different lives and different priorities. Work-life balance doesn’t mean an equal balance. There is no perfect balance you should be striving for. At the core of work-life balance is meaningful daily Achievement and Enjoyment.

Consumer Markets And Consumer Buyer Behavior

When employees feel a greater sense of control and ownership over their own lives, they tend to have better relationship with management and tend to feel more motivated and less stressed out at work, which in turn increases company productivity and reduces conflicts.

Companies that encourage work-life balance have become very attractive to workers. These companies also tend to enjoy higher employee retention rates and more loyalty. Promoting balance is beneficial to both employees and companies.

There's an old supply-chain saying that goes, 'A vendor gives you the best 'deal,' while a strategic partner gives you the highest quality at the lowest cost.' This adage sets the stage for this article on Strategic Supplier Relationships ('SSR') also known as Supplier Relationship Management ('SRM'). SSR is defined as a comprehensive approach to managing the interactions and communications between an enterprise and its suppliers. The goal of SSR is to effectively streamline and make more efficient the communication and interaction between an enterprise and its suppliers. This is accomplished through increased process efficiency related to the acquiring of goods and services, the managing of inventory, purchase order processing, and the management of materials. The benefits of SSR are lower costs, less administrative burden, increased productivity, and a more integrated supply-chain. With margins within the food industry being squeezed, it is ever so important to manage COGS (cost of goods sold) aggressively, thereby increasing profitability. The objective of this article is to shed some light on how SSR might reduce costs and administrative burden, while increasing margins. There are well published examples of companies using SSR to enhance the strategic relationship between buyers and suppliers. In essence, SSR can be accomplished by following these rules of engagement:

1. Carefully evaluate and choose strategic suppliers. When choosing a strategic partner, be sure to take a close look at their business, including such things as:

- Financial stability (D&B)

- Client references

- Proximity to your network

- Management depth

- Years in business

- Use of technology (EDI)

- Cultural fit

2. Develop a clear set of expectations. Before signing an agreement with a supplier, be sure there are clear rules and expectations, including specific tasks you demand them to accomplish. There must be clear roles and nothing must be left to interpretation in terms of responsibilities.

3. Define goals and performance targets. Specific key performance indicators (KPI's) must be developed and tracked to compare suppliers and keep them on track. KPI's such as on-time delivery, expected lead time, freight terms, etc. must be included in a quarterly report-card for each supplier. When setting targets for performance, use the SMART method for developing goals. Each goal must be:

Specific,

Measurable,

Attainable,

Realistic, and

Timely

4. Monitor and rank supplier performance. It's always a good idea to use a scorecard to monitor supplier performance. Additionally, ranking suppliers from best to worst and sharing this data will go a long way to improve performance (nobody wants to be at the bottom of the report).

5. Conduct annual reviews for continuous improvement. Finally, be sure to meet with your suppliers to solicit ideas on how to improve productivity, reduce administrative burden, increase the use of technology, and lower costs.

Conclusion

A comprehensive strategic supplier management program will result in a significant reduction in administrative burden, lower cost of goods, and ultimately, improved profitability. The first step is to establish the baseline of existing suppliers in terms of volumes, frequency, and costs. Next, develop a clear set of expectations, goals, and key performance indicators to monitor quarterly. Finally, be sure to meet with your strategic partners frequently to pick their brains about ways to improve productivity or reduce costs. Additionally, be sure you spend some time teaching your suppliers about the culture at your company and the strategic plans for growth. When taken seriously, the steps outlined in this article will not only improve supplier relationships and lower costs, but will also have a positive impact on profitability. So, remember, vendors are things of the past; strategic partners are what make a difference!

There are many ways employers can promote work-life balance in office, some of which are: company outings, offering remote working and flexible hours, providing good health coverage, encouraging employee education.

Roadmap to a Customer - Centric Strategy

Team Building In The Workplace

Empowering employees like Finance Managing Director to take control over their work and home lives can have a profound impact on their job satisfaction and performance, enabling companies to achieve success. Achieving work-life balance is a daily challenge. It can be tough to make time for family, friends, community participation, spirituality, personal growth, self-care, and other personal activities, in addition to the demands of the workplace.

How should the practice of business continuity evolve to manage the threats and opportunities faced by organizations today and in the future?

Business resilience is the ability an organization has to quickly adapt to disruptions while maintaining continuous business operations and safeguarding people. The CulturalManagement provides experts to partner with your organization and develop a comprehensive emergency preparedness and disaster management program.

Look at how times have changed. There was a time when the purpose of having a contract between vendor and a vendee was simply to establish the terms of their relationship and the manner by which prospective business relationship is to be conducted. Remember the old days of a deal with just a handshake? How about "my word is my bond"? Those days are long gone and one must protect the company from any shady deals.

As soon as the terms of the contract are spelled out which are simple, concise and straightforward, you are ready to affix your signature and seal the agreement. That is basically contract management in a nutshell.

However, if you are talking of software license agreements, things will be quite different from your conventional contracts and the application of the principles related to vendor management will have a different complexion. If you are availing of one of these software packages which are governed by license agreements then it is essential that you spend a moment to study the fine prints of the terms and conditions as it is important that you understand every detail of its provision. This is how the principles of contract management are applied under agreements involving the purchase of software packages.

An effective contract management involving software packages will require you to focus on the prices and other legal provisions that are included in the agreement. The price is usually cited in the legal disclaimers about system performance and quality. This section of the contract is an essential component and it is important that you analyze if you are satisfied would this kind of relationship as what is indicated is what you will receive and nothing more. In your approach for relevant principles and techniques of vendor management, it is important that you are aware of what the vendor commits to provide you and the legal remedies available to you in case of disputes and disagreements.

It is imperative that you consider all provisions including those outside the contract price and major legal issues. If you feel that the contract presented by a vendor seems to be disadvantageous or deficient in substance in protecting your interest, the problem is not in the contract. There are some things that you might have missed during the negotiation that preceded the contract. Most of us have the tendency of focusing our attention on the more obvious aspects of the transaction and leave everything to the lawyer. In the end, we find ourselves with a contract which does not meet our expectation. In most cases, what we have as a contract is deficient or lacking in provisions on compliance to schedule, performance of the vendor and cost control.

So, what are the important things that you have to tackle in a negotiation? Obviously, you will have to agree on the contract price of the software package. Over and beyond the price consideration and other related issues, you have to focus extensively on the functionality and support services that you want the vendor to provide under the proposed agreement. You should remember that what is being sold is a collection of ideas and not a tangible and physical product. Its importance is determined by product's ability in providing the functionality that you need within a specified time frame and with the level of quality that you can not achieve using your existing manpower and capabilities.

When a Finance Managing Director spends the majority of its days on work-related activities and feel as if they are neglecting other important components of their lives, stress and unhappiness result. Thus, you must learn to draw a clear line between your personal and work time and set clear expectations with your colleagues.

IT Snr Manager Tech Team Building

Work-life balance as a IT Snr Manager Tech is a term used for the idea that an individual needs time for both work and other aspects of life (personal interests, family and leisure activities).

Our schedules are getting busier than ever before, which often causes our work or our personal lives to suffer. The compounding stress of IT Snr Manager Tech from never-ending workday is damaging. It can hurt relationships, health and overall happiness.

Vendor Management - The RFP Process

The best work-life balance is different for each of us because we all have different lives and different priorities. Work-life balance doesn’t mean an equal balance. There is no perfect balance you should be striving for. At the core of work-life balance is meaningful daily Achievement and Enjoyment.

What Is Client Eccentricity

When employees feel a greater sense of control and ownership over their own lives, they tend to have better relationship with management and tend to feel more motivated and less stressed out at work, which in turn increases company productivity and reduces conflicts.

Companies that encourage work-life balance have become very attractive to workers. These companies also tend to enjoy higher employee retention rates and more loyalty. Promoting balance is beneficial to both employees and companies.

Even though the traditional mom and pop retail shops have been getting a lot of attention in recent times, it is the trend of Specialty Stores [Modern Trade Retail Chains] that is really taking off. The Specialty Stores promise big business to the FMCG companies, all thanks to the ever changing attitude of majority of consumers who prefer to shop from specialized stores like Wal-Mart, Spencers, Reliance Retail, Big Bazaar and many more when compared to the stand-alone stores.

Attesting to the fact that consumers have changed their buying perspectives does not make things easier for the FMCG companies. This focus shift has also made the consumer behavior more volatile. An attractive TVC, schemes that work on a buy some get some free model, discounts offered, or a fall in price is enough for the consumer to choose a brand. In a situation as fragile and fickle as this, tracking the sales till the consumption level is very critical for strategic decision making.

Why Specialty Stores are capturing all the Attention of FMCG Industry?
Specialty Stores are the bulk buyers of fast moving & over-the-counter (OTC) products. With thousands of prospective consumers visiting these stores daily, and the evident fact that such products are better exposed and have higher probability of getting sold in small time-frame due to very competitive cost, Specialty Stores have emerged as the hub of attention by sales and marketing strategists of FMCG companies.

Leveraging IT is not an alien concept to majority of the FMCG players, but that often stops till the National Distributors, Stock Keeping Units, or at maximum, the distributor / micro distributor level. To track the ever-changing consumer buying behavior, it is essential to traverse down till the Tertiary level or till a level when the product reaches the hands of the consumers.

In a hypothetical example where the manufacturer of a healthcare product like a disinfectant has a robust method in place, may be a top-notch ERP, to track its Primary product movement and product sale from manufacturer to C & F agent and distributor simultaneously. Some companies also track the secondary level sales from distributor to the sub-distributors; but the last and the most crucial level loses its significance due to multiple challenges in data collection and touch-points. With little knowledge on how consumers are behaving to this disinfectant, the continuous production of the product can come out as a major loss to the manufacturer.

Tracking Sales at Tertiary Level hence becomes one of the key criterions in analyzing:

  • Consumer buying behavior
  • Production Planning
  • Strategies in the distribution channels & route plan
  • Limitations in consumer knowledge that influence decisions
  • Product Packaging plan
  • How consumer motivation and product development decision strategies co-relate
  • How manufacturers can adapt and improve their marketing campaigns and strategies to reach the consumer more effectively

Tracking the sales manually at any given level is not possible. Unlike the sale of home appliances or electronic items that is relatively slow, the FMCG products sell quickly and in great numbers. They also have varied product categories & SKUs which make it impossible for the FMCG manufacturer to tap the data. Automating the process becomes a mandate; with companies like CalvinKare, Britannia, India Pistons, etc. already cashing on this IT advancement.

Tertiary Sales is a great criteria for knowing the consumer buying behavior, which inadvertently also acts as product testimonial. Drawing inference from the same example of a disinfectant, a sudden drop in its sale at the tertiary level will help you analyze the reasons- and when you know the "reasons", there is nothing stopping you from improving your sales.

There are many ways employers can promote work-life balance in office, some of which are: company outings, offering remote working and flexible hours, providing good health coverage, encouraging employee education.

The Consumer Power And Brand Strategy

Stress Management For Employees

Empowering employees like IT Snr Manager Tech to take control over their work and home lives can have a profound impact on their job satisfaction and performance, enabling companies to achieve success. Achieving work-life balance is a daily challenge. It can be tough to make time for family, friends, community participation, spirituality, personal growth, self-care, and other personal activities, in addition to the demands of the workplace.

How should the practice of business continuity evolve to manage the threats and opportunities faced by organizations today and in the future?

Business resilience is the ability an organization has to quickly adapt to disruptions while maintaining continuous business operations and safeguarding people. The CulturalManagement provides experts to partner with your organization and develop a comprehensive emergency preparedness and disaster management program.

While most companies talk about consumer friendliness, customer centricity, customer relationship etc. more often than not they are mere lip service or jargons with little sincerity behind these grand sounding words.

When a company lacks the sincerity to deal with their customers fairly, some one comes along and puts the company on the dock and though the trial by the customers may be long drawn out it is ultimately the death sentence for the brand or the organizations itself many a times.

There are hundreds of recorded cases of companies going down the tube in spite of the best possible product and high visibility promotions just because they failed to take care of the customers in all sincerity.

Jeremy dorosin and the Starbucks is a case in point where one single customer created a movement and media attention so wide that the company had to close shop.

Starbucks coffee simply refused to acknowledge the genuine grievance of a customer and laughed him off. In spite of their claims of people oriented service, they failed to note a genuine customer complaint. When Jeremy Dorosin went to the media and the internet, millions of affected customer whether of starbucks or other companies joined in to orchestrate their protest against the high handedness of big business? The unfairness was visible when Starbucks painted Jeremy Dorosin as a nut.

The company had to close shop ultimately and we now have the famous term Starbucked out of this customer victory.

Just do a search of the word Jeremy Dorosin in any search engine and you can read all about it.

The point that needs to be raised here is:

Can the customer be used like a whore? Use them and discard them when you feel like. Is he just a number; the more you have the better is your bottom line.

Or is the customer going to be an important component around which your business revolves.

Would you like to shortchange the customer for your short term profits?

Do you react differently to your customer and you as a customer?

Is your entire organization designed to revolve around the customer or only your Sales and Customer Care have to think about them and rest of the organization is trying to beat the customer orientation by an accountant mind set.

These are just the basic questions you need to ask yourself if you want to survive and profit from business. As Peter Drucker said almost 50 years back, Customer is Business.

Decide whether you want run a business or run out of it by forgetting the customer.

When a IT Snr Manager Tech spends the majority of its days on work-related activities and feel as if they are neglecting other important components of their lives, stress and unhappiness result. Thus, you must learn to draw a clear line between your personal and work time and set clear expectations with your colleagues.

Finance Snr Manager Employee Productivity

Work-life balance as a Finance Snr Manager is a term used for the idea that an individual needs time for both work and other aspects of life (personal interests, family and leisure activities).

Our schedules are getting busier than ever before, which often causes our work or our personal lives to suffer. The compounding stress of Finance Snr Manager from never-ending workday is damaging. It can hurt relationships, health and overall happiness.

What Is Motivation Employee Welfare

The best work-life balance is different for each of us because we all have different lives and different priorities. Work-life balance doesn’t mean an equal balance. There is no perfect balance you should be striving for. At the core of work-life balance is meaningful daily Achievement and Enjoyment.

Why Customer Centricity Is Important

When employees feel a greater sense of control and ownership over their own lives, they tend to have better relationship with management and tend to feel more motivated and less stressed out at work, which in turn increases company productivity and reduces conflicts.

Companies that encourage work-life balance have become very attractive to workers. These companies also tend to enjoy higher employee retention rates and more loyalty. Promoting balance is beneficial to both employees and companies.

There are businesses that are mostly self-sustained. And then there are businesses that rely heavily on third-party suppliers, otherwise known as vendors. For example, an events management business rely on equipment suppliers, food and beverage suppliers, chairs and tables suppliers, printers and fabricators to be able to deliver a good, seamless and flawless event.

While these types of business typically depend on a set of reliable suppliers that they regularly work with, the best practice still involves exploring other suppliers every time a requirement comes up. Otherwise, there won't be any chance of discovering better and more cost-effective suppliers at all.

For example, an events management company who has done business with the same audio-visual equipment supplier for the past 10 years was bent on using the same supplier for a big event. One day, however, a faxed flyer came in from a fairly new equipment rental company which offered lower rates. When asked for a quote, this new supplier gave rates that were half the cost that the old supplier offered. So automatically, the events management company signed up a new equipment supplier.

Unfortunately, keeping a database of vendors is a challenging task, especially in companies where there is a fast turnover rate. The danger in these companies is that people leave too soon, without getting the chance to endorse to the next person their "red book" of trusted vendors. As a result, the next person has to start from scratch to build up their own database of vendors.

This is where the importance of vendor management software comes in. So what does vendor management software do? It actually serves as a robust database of all the vendors that the company has worked with in the past, as well as those that they intend to work with in the future.

Typical vendor management software has such functions as vendor registration, a vendor approval scheme, risk management functionality, the ability to track vendor visibility and performance. All these are usually linked to a standard billing and invoicing functionality as well.

Does it sound like something that your business needs? Remember though that there are certain things that you need to keep in mind when investing in software. First, you have to make sure that the interface is user-friendly, the security features meet your standards, the report-generation functionality is flexible and robust, and the after-sales support is responsive.

There are many ways employers can promote work-life balance in office, some of which are: company outings, offering remote working and flexible hours, providing good health coverage, encouraging employee education.

Creating a Customer-Centric Organization

Team Building Quotes For Work

Empowering employees like Finance Snr Manager to take control over their work and home lives can have a profound impact on their job satisfaction and performance, enabling companies to achieve success. Achieving work-life balance is a daily challenge. It can be tough to make time for family, friends, community participation, spirituality, personal growth, self-care, and other personal activities, in addition to the demands of the workplace.

How should the practice of business continuity evolve to manage the threats and opportunities faced by organizations today and in the future?

Business resilience is the ability an organization has to quickly adapt to disruptions while maintaining continuous business operations and safeguarding people. The CulturalManagement provides experts to partner with your organization and develop a comprehensive emergency preparedness and disaster management program.

While most companies talk about consumer friendliness, customer centricity, customer relationship etc. more often than not they are mere lip service or jargons with little sincerity behind these grand sounding words.

When a company lacks the sincerity to deal with their customers fairly, some one comes along and puts the company on the dock and though the trial by the customers may be long drawn out it is ultimately the death sentence for the brand or the organizations itself many a times.

There are hundreds of recorded cases of companies going down the tube in spite of the best possible product and high visibility promotions just because they failed to take care of the customers in all sincerity.

Jeremy dorosin and the Starbucks is a case in point where one single customer created a movement and media attention so wide that the company had to close shop.

Starbucks coffee simply refused to acknowledge the genuine grievance of a customer and laughed him off. In spite of their claims of people oriented service, they failed to note a genuine customer complaint. When Jeremy Dorosin went to the media and the internet, millions of affected customer whether of starbucks or other companies joined in to orchestrate their protest against the high handedness of big business? The unfairness was visible when Starbucks painted Jeremy Dorosin as a nut.

The company had to close shop ultimately and we now have the famous term Starbucked out of this customer victory.

Just do a search of the word Jeremy Dorosin in any search engine and you can read all about it.

The point that needs to be raised here is:

Can the customer be used like a whore? Use them and discard them when you feel like. Is he just a number; the more you have the better is your bottom line.

Or is the customer going to be an important component around which your business revolves.

Would you like to shortchange the customer for your short term profits?

Do you react differently to your customer and you as a customer?

Is your entire organization designed to revolve around the customer or only your Sales and Customer Care have to think about them and rest of the organization is trying to beat the customer orientation by an accountant mind set.

These are just the basic questions you need to ask yourself if you want to survive and profit from business. As Peter Drucker said almost 50 years back, Customer is Business.

Decide whether you want run a business or run out of it by forgetting the customer.

When a Finance Snr Manager spends the majority of its days on work-related activities and feel as if they are neglecting other important components of their lives, stress and unhappiness result. Thus, you must learn to draw a clear line between your personal and work time and set clear expectations with your colleagues.

Information Technology Tools Suppliers Relationship

Work-life balance as a Information Technology Tools is a term used for the idea that an individual needs time for both work and other aspects of life (personal interests, family and leisure activities).

Our schedules are getting busier than ever before, which often causes our work or our personal lives to suffer. The compounding stress of Information Technology Tools from never-ending workday is damaging. It can hurt relationships, health and overall happiness.

Hypothalamus - Role in Motivation and Behaviour

The best work-life balance is different for each of us because we all have different lives and different priorities. Work-life balance doesn’t mean an equal balance. There is no perfect balance you should be striving for. At the core of work-life balance is meaningful daily Achievement and Enjoyment.

Stress Management Training Courses

When employees feel a greater sense of control and ownership over their own lives, they tend to have better relationship with management and tend to feel more motivated and less stressed out at work, which in turn increases company productivity and reduces conflicts.

Companies that encourage work-life balance have become very attractive to workers. These companies also tend to enjoy higher employee retention rates and more loyalty. Promoting balance is beneficial to both employees and companies.

The Consumer Market comprises all individuals and households who buy or acquire goods and services for personal consumption - for themselves, family, guests, relatives, friends.

Consumer Buying Behaviour refers to the buying behaviour of final consumers (individuals & households) who buy goods and services for personal consumption. We need to understand consumer behaviour to answer the question: "How do consumers respond to marketing efforts the company might use?"

The buying Decision Process consists of five steps: Recognition of Need, Information Search, Evaluation of Alternatives, Purchase Decision and Post-Purchase Behaviour / Evaluation.

Factors Influencing Consumer Behaviour

Personal Factors
Age
Life cycle stage
Occupation
Economic situation
Personality & Self Concept
Life style identification

Psychological Factors
Motivation: a need becomes a motive when it is strong enough to propel us to act, to seek satisfaction
Perception: process by which we select, organize and interpret information to form a picture of the world
Learning: changes in behaviour arising from experience
Beliefs: a descriptive thought about something
Attitudes: consistent / enduring favourable / unfavourable evaluations, feelings, and tendencies towards something

Freud's Theory: A motive (or drive) is a need that is sufficiently pressing to direct the person to seek satisfaction. Sigmund Freud assumed people are largely unconscious about the real psychological forces shaping their behaviour... He saw the person as growing up and repressing many urges - these are never eliminated or under perfect control - they emerge in dreams, in slips of the tongue, in neurotic and obsessive behaviour or ultimately in psychoses. Freud suggested that a person does not fully understand his or her motivation.

Frederick Herzberg's two factor theory of satisfiers and dissatisfiers states that the absence of dissatisfiers is not enough - satisfiers must also be present for products to be purchased. In other words, marketers should do their best to avoid dissatisfiers, while identifying major satisfiers or motivators and providing them.

Social Factors
Family is the most important consumer buying unit in any society or market... family members being the most important / influential primary reference group.
Family of orientation: parents, siblings - strong influence on consumption habits that last a lifetime.
Family of procreation: spouse, children - where there are issues of dominance and influence in decision including purchase and consumption.

Reference Groups are groups with whom a person associates and who influence the person's attitudes, values, behaviour, consumption habits... Membership group are those that have a direct influence.
Primary group: continuous, informal interaction - family, friends, neighbours, colleagues
Secondary group: religious, professional, trade union...
Aspirational group: those a person hopes to join
Dissociative group: those whose values or behaviour a person rejects

Social Roles & Status: A role consists of activities a person is expected to perform in society. Each role carries a status. People select products & brands that reflect their role and actual / desired status in society. Marketers need to be aware of the status symbol potential of products & brands.

There are many ways employers can promote work-life balance in office, some of which are: company outings, offering remote working and flexible hours, providing good health coverage, encouraging employee education.

The Basics of Customer-Centric Selling

Vendor Relationship Manager Salary

Empowering employees like Information Technology Tools to take control over their work and home lives can have a profound impact on their job satisfaction and performance, enabling companies to achieve success. Achieving work-life balance is a daily challenge. It can be tough to make time for family, friends, community participation, spirituality, personal growth, self-care, and other personal activities, in addition to the demands of the workplace.

How should the practice of business continuity evolve to manage the threats and opportunities faced by organizations today and in the future?

Business resilience is the ability an organization has to quickly adapt to disruptions while maintaining continuous business operations and safeguarding people. The CulturalManagement provides experts to partner with your organization and develop a comprehensive emergency preparedness and disaster management program.

Customer centric selling is a selling process that seeks to sell products to the customer with the aim of ensuring that the interests of the buyer are prioritized. Unlike the traditional approach, this selling process seeks to form long-term relationships between the buyer and the seller by turning the seller into a partner rather than a tormentor. However, it does not seek to overhaul or do away with traditional sales values and tactics. Instead, it seeks to make those values adapt to changing consumer patterns and increased scrutiny from government regulations.

Conversations vs. Presentations

Traditional marketing requires that you go with a script in your head and present it to anyone who cares to listen. Though this worked for a while and still works, customer-centric selling tries to replace this with situational conversations. This means that the seller tries to give this person something that is relevant to a situation that is around them.

Features vs. Benefits

Nowadays, people are more interested about their needs than in the past. For this reason, they seek to relate what the product can do to what they need to be done. This means that instead of telling this person that the laptop weighs only three ounce, you tell that person that the laptop is light and portable. This means that you as a salesperson need to highlight the benefits of the product and how it will help that buyer.

Bottom-up Approach

Another feature about customer-centric sales strategy is that unlike traditional marketing where the salespersons were seen as a group that needs to be managed (since it was a top down approach), effective selling requires that managers rely on feedback from the salesperson to the managing because it is the salespeople who understand the real difficulties of selling the product based on with their challenges, and therefore, the need for adjusting your product to suit the buyer and not the other way round.

Questions

Another unique thing about the customer-centric selling approach is that the seller makes an effort in trying to ask the buyer questions so as to get feedbacks. Here, the seller has not just gone out to recite a couple of features about the product and then give them to a disinterested listener. The seller seeks to show the buyer that he is actually willing to listen to the buyer and then gives him what will be the best. So many people have been able to get valuable information from prospects even though they may not have bought the product, but provided valuable insight as to why the product was not selling in the first place.

As the name suggests, it is important to note that this model for selling is rather new and if you are planning to introduce it to your organization, you may face some stiff resistance to those who are used to the old way of doing things. However, once you try implementing it, you will realize that the benefits of this system far outweigh the challenges.

When a Information Technology Tools spends the majority of its days on work-related activities and feel as if they are neglecting other important components of their lives, stress and unhappiness result. Thus, you must learn to draw a clear line between your personal and work time and set clear expectations with your colleagues.

HR Managing Director Customer Centric Selling

Work-life balance as a HR Managing Director is a term used for the idea that an individual needs time for both work and other aspects of life (personal interests, family and leisure activities).

Our schedules are getting busier than ever before, which often causes our work or our personal lives to suffer. The compounding stress of HR Managing Director from never-ending workday is damaging. It can hurt relationships, health and overall happiness.

Consumer Motivation

The best work-life balance is different for each of us because we all have different lives and different priorities. Work-life balance doesn’t mean an equal balance. There is no perfect balance you should be striving for. At the core of work-life balance is meaningful daily Achievement and Enjoyment.

Best Recruitment And Selection Process

When employees feel a greater sense of control and ownership over their own lives, they tend to have better relationship with management and tend to feel more motivated and less stressed out at work, which in turn increases company productivity and reduces conflicts.

Companies that encourage work-life balance have become very attractive to workers. These companies also tend to enjoy higher employee retention rates and more loyalty. Promoting balance is beneficial to both employees and companies.

It's easy to be ethnocentric about customer-centricity! Enthnocentrism is the tendency to look at the world primarily from the perspective of one's own culture. How often do we view customer experience, loyalty, word-of-mouth marketing, and customer care from the perspective of our own company culture? I'd venture to say "too often"!

In the name of customer advocacy, we tend to have a number of exciting customer relationship-building programs in place: advisory boards, user groups, reference programs, satisfaction surveys, experiential marketing, personalized customer communications, and much more. These are indeed useful efforts -- but their usefulness is exponential when we put aside ethnocentrism for true customer-centrism. The key is in examining our motives.

Ethnocentric Customer Advocacy

Inside-out advocacy seeks to build customer relationships through these primary motives: design new products, obtain new customers, up-sell and cross-sell current customers, determine employee bonuses, and so forth. These motivations are ethnocentric because they are essentially self-serving. Sure, the customer may benefit along the way, but the focus is foremost on company revenue. With this focus, the benefits to customers are short-term at best. And the company's outreach efforts must be constant to keep the wheel moving.

True Customer-centric Customer Advocacy

Outside-in advocacy seeks to build customer relationships through these primary motives: make it easier and nicer for customers to get and use the solutions we offer. With those primary motives securely in place, secondary motives may include: design new products, obtain new customers, up-sell and cross-sell current customers, determine employee bonuses, and so forth. The company will certainly benefit along the way, but the focus is foremost on customers' ease. With this focus, the benefits to customers are long-term and self-sustaining. By making it easier and nicer for customers to get and use the solutions we offer, our ambivalent customers are more likely to migrate to brand enthusiasts, positive word-of-mouth accelerates, and both revenue and profit growth are sustainable in an almost auto-pilot mode, relative to the ethnocentric motives scenario.

Waste of Inward Focus

An executive once told me he'd be glad if his company had only manufacturing and sales functions -- just the bare minimum to make and sell solutions for customers. He was really commenting on the excessive inward focus and waste that tends to occur in companies. Certainly, customers expect additional services around the solutions they buy: safety, quality, financing, upgrades and innovations, and so on. And that's why companies exist -- to make and sell whole solutions for customers. After all, it's the customers who make our payroll dollars possible! And truly customer-centric companies keep that thought at the forefront, with pure primary motives to make it easier and nicer for customers to get the solutions they need.

Customer Experience Management

Customer experience management (CEM) is an essential methodology for being a truly customer-centric firm. CEM brings an outside-in focus and pure motives to all groups within the firm. It's the key to creating strong customer perceived differentiation from the competition, as truly customer-centric customer advocacy encompasses the customer's full experience spectrum. CEM makes it easier and nicer for customers to get and use solutions.

Ethnocentric customer-centricity is easy to fall into! Executive champions must be on the alert to prevent it. Outside-in motives prevent waste and and generate big results. The usefulness of any customer relationship building program is exponential when we put aside ethnocentrism for true customer-centrism.

There are many ways employers can promote work-life balance in office, some of which are: company outings, offering remote working and flexible hours, providing good health coverage, encouraging employee education.

Vendor Management Software - How It Helps To Manage Vendors

Consumer Behavior In Economics

Empowering employees like HR Managing Director to take control over their work and home lives can have a profound impact on their job satisfaction and performance, enabling companies to achieve success. Achieving work-life balance is a daily challenge. It can be tough to make time for family, friends, community participation, spirituality, personal growth, self-care, and other personal activities, in addition to the demands of the workplace.

How should the practice of business continuity evolve to manage the threats and opportunities faced by organizations today and in the future?

Business resilience is the ability an organization has to quickly adapt to disruptions while maintaining continuous business operations and safeguarding people. The CulturalManagement provides experts to partner with your organization and develop a comprehensive emergency preparedness and disaster management program.

Is your organization customer-focused? As the economy regains strength, consumers will feel comfortable spending more. By fortifying your customer engagement approach now, you can position your organization to take full advantage of the eventual upturn. Fostering customer engagement is also the most effective way to recover lost customers and acquire new ones. This is because fully engaged customers recruit new customers for you - they are enthusiastic about the service you provide and recommend you to others. If you can create a customer-centric organization, you can successfully generate fully engaged customers (as well as higher profits).

There are two key variables in engineering a customer-centric organization: customer engagement and employee engagement. Through Customer Engagement Management (CEM), you can take practical steps to increase customer engagement. Although nearly any organization can improve customer engagement through CEM, we have found that customer engagement scores improve even further when organizations also use Employee Engagement Management (EEM). EEM practices create a healthy organizational culture in the workplace so that your employees feel passionate about their work. Although some immediate actions can be taken to improve employee engagement, EEM will likely involve a longer process of internal change and growth.

Customer Engagement
Generally, an engaged customer is one who actively supports a service or product. Customer engagement is more than just brand loyalty where customers are simply making exclusive purchases; instead, engaged customers are supporting the company by buying more products and services and telling others to do the same. In short, the key to a successful business is engaged customers -- people who enthusiastically endorse what you do.

Unfortunately, many organizations fail to recognize how their own procedures create apathetic customers. For instance, many organizations suffer from a lack of consistency regarding customer contact. Nothing is more frustrating for a customer than having three different encounters with three different employees in three different ways over a single issue. It's easy to see how customers are willing to switch brands when faced with such poor customer service.

A customer-centric organization wouldn't expect its customers to navigate such complex communication structures. Customer-centric companies focus on the customer throughout everything they do. A CEM solution for such a problem would begin with getting feedback from customers to find out how they feel, ideally at the individual level and through statistically reliable market research. To do this you must identify the customer touch points within your organization and contact customers after an experience with these touch points to get their feedback. If you do this, you will have both individual customer feedback and begin to see larger trends and areas for focus. View your product or service as a real customer would. Don't generalize or stereotype; instead, recruit actual customer to help you accurately visualize your product. By doing this, you'll remove the focus from "the company" and put it on the customer--exactly where it needs to be.

Employee Engagement
Whether they realize it or not, customers make most of their decisions based on their emotions--how they're feeling at a given point in time--which is why employee engagement is a crucial ingredient in creating a customer-centric culture. If employees are engaged, their interactions with customers will be genuine, not coerced or forced. Customers recognize and are pleased with such sincere service. As such, one of the major factors in increasing customer engagement is employee engagement.

The first step to engaging employees is realizing that there is not a one-size-fits-all solution for every organization. Since every company's organizational culture is different, every company's employee engagement solution should look different as well. Your employees are unique, so your EEM solution should begin with asking staff about their experience at the organization and then incorporating a management solution that allows managers to take action to meet employee needs.

With an increase in employee engagement, you're likely to experience an increase in customer engagement. And with that, you'll no doubt enjoy success.

~Monica Nolan, 2009

When a HR Managing Director spends the majority of its days on work-related activities and feel as if they are neglecting other important components of their lives, stress and unhappiness result. Thus, you must learn to draw a clear line between your personal and work time and set clear expectations with your colleagues.

Sales And Marketing Tools Job Satisfaction

Work-life balance as a Sales And Marketing Tools is a term used for the idea that an individual needs time for both work and other aspects of life (personal interests, family and leisure activities).

Our schedules are getting busier than ever before, which often causes our work or our personal lives to suffer. The compounding stress of Sales And Marketing Tools from never-ending workday is damaging. It can hurt relationships, health and overall happiness.

Creating a Customer-Centric Organization

The best work-life balance is different for each of us because we all have different lives and different priorities. Work-life balance doesn’t mean an equal balance. There is no perfect balance you should be striving for. At the core of work-life balance is meaningful daily Achievement and Enjoyment.

Customer Segmentation Using Machine Learning

When employees feel a greater sense of control and ownership over their own lives, they tend to have better relationship with management and tend to feel more motivated and less stressed out at work, which in turn increases company productivity and reduces conflicts.

Companies that encourage work-life balance have become very attractive to workers. These companies also tend to enjoy higher employee retention rates and more loyalty. Promoting balance is beneficial to both employees and companies.

Look at how times have changed. There was a time when the purpose of having a contract between vendor and a vendee was simply to establish the terms of their relationship and the manner by which prospective business relationship is to be conducted. Remember the old days of a deal with just a handshake? How about "my word is my bond"? Those days are long gone and one must protect the company from any shady deals.

As soon as the terms of the contract are spelled out which are simple, concise and straightforward, you are ready to affix your signature and seal the agreement. That is basically contract management in a nutshell.

However, if you are talking of software license agreements, things will be quite different from your conventional contracts and the application of the principles related to vendor management will have a different complexion. If you are availing of one of these software packages which are governed by license agreements then it is essential that you spend a moment to study the fine prints of the terms and conditions as it is important that you understand every detail of its provision. This is how the principles of contract management are applied under agreements involving the purchase of software packages.

An effective contract management involving software packages will require you to focus on the prices and other legal provisions that are included in the agreement. The price is usually cited in the legal disclaimers about system performance and quality. This section of the contract is an essential component and it is important that you analyze if you are satisfied would this kind of relationship as what is indicated is what you will receive and nothing more. In your approach for relevant principles and techniques of vendor management, it is important that you are aware of what the vendor commits to provide you and the legal remedies available to you in case of disputes and disagreements.

It is imperative that you consider all provisions including those outside the contract price and major legal issues. If you feel that the contract presented by a vendor seems to be disadvantageous or deficient in substance in protecting your interest, the problem is not in the contract. There are some things that you might have missed during the negotiation that preceded the contract. Most of us have the tendency of focusing our attention on the more obvious aspects of the transaction and leave everything to the lawyer. In the end, we find ourselves with a contract which does not meet our expectation. In most cases, what we have as a contract is deficient or lacking in provisions on compliance to schedule, performance of the vendor and cost control.

So, what are the important things that you have to tackle in a negotiation? Obviously, you will have to agree on the contract price of the software package. Over and beyond the price consideration and other related issues, you have to focus extensively on the functionality and support services that you want the vendor to provide under the proposed agreement. You should remember that what is being sold is a collection of ideas and not a tangible and physical product. Its importance is determined by product's ability in providing the functionality that you need within a specified time frame and with the level of quality that you can not achieve using your existing manpower and capabilities.

There are many ways employers can promote work-life balance in office, some of which are: company outings, offering remote working and flexible hours, providing good health coverage, encouraging employee education.

Vendor Management Software - How It Helps To Manage Vendors

Importance Of Resilience In The Workplace

Empowering employees like Sales And Marketing Tools to take control over their work and home lives can have a profound impact on their job satisfaction and performance, enabling companies to achieve success. Achieving work-life balance is a daily challenge. It can be tough to make time for family, friends, community participation, spirituality, personal growth, self-care, and other personal activities, in addition to the demands of the workplace.

How should the practice of business continuity evolve to manage the threats and opportunities faced by organizations today and in the future?

Business resilience is the ability an organization has to quickly adapt to disruptions while maintaining continuous business operations and safeguarding people. The CulturalManagement provides experts to partner with your organization and develop a comprehensive emergency preparedness and disaster management program.

We select our store locations. We select our staff. We select the merchandise to carry; and along those lines, we select our vendors. Selecting the correct vendors - in addition to managing these vendors during the selection process and beyond - can often be the difference between making your store profitable or simply providing real estate for the vendors to sell their goods. It is time to manage your vendors!

So... raise your hand if you have ever conducted a thorough Request For Proposal (RFP) process for you vendors. Anyone? In truth, not many have to the extent that you evaluate multiple vendors, creating competition for space in your store. How you manage the RFP process can and will set the tone for all your go-forward vendors. A well-thought out process to vendor selection, can provide real opportunities for you in the following areas:

Rebates: Did you know that vendors offer rebates based on product placement; rack allowances; product movement and other considerations? In some cases, the vendor receives manufacturing rebates that you need to ensure are passed onto you. The RFP Process ensures you identify and capture your fair share.

Incentives: The vendor is in your store for one thing - to sell their product. Meeting the goals of the vendors should only be achieved if they are aligned with your goals. What types of incentives do you vendors provide you in order to meet that goal? Work with the vendor to establish incentives for each party that foster alignment.

Deliveries: You pay for delivery whether you believe that or not. Manage the amount of deliveries to your store on a weekly basis so that you have enough inventory on hand, but not so much that you are paying full-load delivery fees for partial deliveries. You may want to consider adjustments based on seasonality.

Never Out of Basics: All stores carry that "MUST HAVE" product that you can never be out of - ever! Identify your "must have" products and ensure that you and your vendor have a clear understanding on the ramifications if any of these products are ever out of stock. Build in financial penalties for the vendor if you are shorted product on your core offerings.

Marketing: Identify programs and investments that your vendor partner will make in advertising and promoting their products. These should be managed in concert with your overall marketing of your store and determined jointly with the vendor to ensure their financial obligation, as well as timing.

Payment Terms: Standard policy is net 30 days, but have you inquired about discounts if you pay earlier? In some cases, the squeaky wheel gets the oil and if you are in a position to negotiate more favorable payment terms, do so.

Product Returns: Have you established a specific contractual obligation on product or damaged returns? Re-slotting fees and other incremental mark-ups by your vendor with regard to returned products could eat away at your gross profit. In addition, now is the time to establish the process for replacing damaged products.

Contract Terms: How long are you committed to this vendor and what are the "out clauses" in the contract should a better vendor come along? The best place to negotiate this is during the RFP process when the vendor is hungry for your business.

Mark-Ups: Every product you purchase comes with a corresponding markup - or the manufacturer/vendor profit. Most of these markups are determined by a category of products as opposed by the product SKU. Knowing your industry markup ranges by category will better prepare you in establishing the best cost structure for your product acquisition.

Conducting a thorough RFP Process is critical for establishing not only your pricing structure with your vendors but also in developing the process in which business is conducted. Remember, vendors are in YOUR store and it is up to you to determine the roles that each of them play. If you do not take control of your vendors from the onset, you will face an uphill battle within your own store. Or as Winston Churchill once said, "he who fails to plan is planning to fail."

When a Sales And Marketing Tools spends the majority of its days on work-related activities and feel as if they are neglecting other important components of their lives, stress and unhappiness result. Thus, you must learn to draw a clear line between your personal and work time and set clear expectations with your colleagues.

Sales And Marketing Director Employee Welfare

Work-life balance as a Sales And Marketing Director is a term used for the idea that an individual needs time for both work and other aspects of life (personal interests, family and leisure activities).

Our schedules are getting busier than ever before, which often causes our work or our personal lives to suffer. The compounding stress of Sales And Marketing Director from never-ending workday is damaging. It can hurt relationships, health and overall happiness.

Improve Customer Experience by Overcoming Ethnocentric Customer-Centricity

The best work-life balance is different for each of us because we all have different lives and different priorities. Work-life balance doesn’t mean an equal balance. There is no perfect balance you should be striving for. At the core of work-life balance is meaningful daily Achievement and Enjoyment.

Selection Is An Elimination Process Explain

When employees feel a greater sense of control and ownership over their own lives, they tend to have better relationship with management and tend to feel more motivated and less stressed out at work, which in turn increases company productivity and reduces conflicts.

Companies that encourage work-life balance have become very attractive to workers. These companies also tend to enjoy higher employee retention rates and more loyalty. Promoting balance is beneficial to both employees and companies.

The basic concept of Vendor Management is to "Manage your vendors or they'll end up managing you!"

Summary - A bold change of initiatives and an efficient use of database are the keys to successful Vendor Management. This offers a complete view of vendor activity and performance that is crucial for an efficient and cost-effective project. It helps in delivering a flexible, cohesive platform for enabling, engaging, and evaluating your suppliers. Though there are no permanent solution/fixes for enhancing performance, one can take specific steps to maximize effectiveness.

Often, we draw upon our experience to handle basic problems in vendor management. This white paper lists these basic problems which an organization might face if it outsources work to vendors. Once this paper is through, you can prepare a comprehensive checklist that will help you in getting the best out of your vendors.

Vendor selection

The important thing is to figure out which vendors must be 'managed,' and which ones do not need 'management.' This might sound like an absurdity, but there is some truth to it. For instance, companies might monitor purveyors of office supplies for best prices and basic service requirements, but a deeper relationship is essential for strategic vendors who will deliver eLearning modules or content, on time and at the right cost.

A crucial step is to choose the right vendor. Begin with shortlisting vendors who have worked on similar projects and have a good track record.

Finding talented and efficient vendors at a reasonable cost can be challenging.

The implementation process begins long before the vendor is selected. The specifications should include the optimum rollout approach, with key dates and implementation success criteria. The entire process, from specification development to implementation, must be handled along formal project management lines. From the outset, there must be a Project Board that will undertake to do vendor evaluation. This Project Board should also have overall responsibility for the implementation of the project, otherwise all the knowledge gained-and decisions made-during the vendor selection could well be lost.
The Project Board should consist of perhaps no more than five managers who have the most to gain and, therefore, will take a keen interest in the project. Almost certainly, there should be representation from Personnel/Human Resources.

Once you have found several technology-based vendors that interest you, gather as much basic information about them as you can. Visit their Web site, interact with them and review their work.

Once an initial short list of perhaps four to six vendors has been developed, the first task is to compare the different approaches from these vendors and finalizing on the best possible option. A mandatory criteria is the budget and the confidence the vendor has in meeting implementation dates. What you should be looking for is the way the vendor communicates an understanding of your requirements and how these requirements will be met, as well as the way in which the vendor team members deal with questions from the Board. One of the selection criteria can be-do you feel comfortable with the vendor team?

Some other key considerations are:

o Experience: How many projects have they completed that are similar in size, scope, or content to yours?

o Strength of Company: Do they have the financial resources and staff size to complete your project and maintain it in the future?

o Quality of work: Have they received professional awards, published articles in trade magazines, or otherwise been recognized for their work?

o Resources: Does the vendor have full-time, on-site staff for all critical project tasks?

According to Sue Welch, CEO of Trade Stone Software, a developer of global sourcing and supplies systems in Gloucester, MA, "Wherever possible, provide value to your vendors when you are asking them to adapt to your business needs and requirements," she advises. "For instance, if you want electronic invoicing, offer incentives such as prompt payment or instantaneous audit that can auto-correct invoice discrepancies before submission."

o Determine how well a vendor will solve problems on your project. This is never easy. After all, any vendor will tell you it has excellent problem-solving skills. Here are a few questions to ask prospective vendors that will help to let you know how well they can really deal with problems:

1. What are the problems that you have come across while working on similar projects in the past?

2. How did you deal with those problems?

3. Did you manage to finish your project on time?

4. Were you able to complete your project within the sanctioned budget?

o Value addition -- Look for vendors who think beyond their assignments and can add more value to their projects. What you don't want is someone doing what they're told to do, just because it's a part of the Media standards.

o Develop a Triumph Relationship with the Vendor

We don't want to wield a big stick to beat up vendors, but we want to create relationships that allow both parties to work successfully in the long term. Creating a triumph relationship with the vendor is mandatory for good results.

Here are some tips for creating a positive relationship with vendors:

Tip #1: Proposal Process

o The Request for a Proposal is detailed in its specifications.

o Along with prices, proposals specify the quantity and quality of the media, interactivity, and content.

o A winning solution is judged on the quality of the firm's work, strength of the company, dedication to customer service, price, and quality of the proposal, itself.

Tip #2: Only one Point of Contact:

There should be only one point of contact who coordinates between you and the vendor - the Project Manager/Project Lead. Though each project has assigned team members, miscommunication becomes likely when several individuals are talking with different levels of each organization. For example, if the client is experiencing a technical glitch or bug, it might make sense for the client's technical support personnel to speak directly with the vendor's most advanced programmer. However, the project manager from the client and vendor should participate in this meeting or phone call to make sure that prior commitments or expectations are understood, action items agreed upon, and timetables are set.
This will help in filtering right and clear information.

Tip #3: Regular evaluation through progress meetings:

Following this simple checklist will help improve teamwork on a project. The vendor should be reviewed at regular intervals so that all the problems are solved at the initial stage. One can meet once or twice a week on a project at the given time with the vendor and discuss the project status. It can also include regular phone calls with the vendor and client. During these meetings, one can review the projects and make changes if required. Also discuss the next step and an update on the schedule. In-between, one can also make frequent calls to the vendor to re-check if the vendor needs any information and that everything is on schedule. This keeps the project moving smoothly.

Tip #4: Updated Project Report:

Regular updating of the project schedule should be maintained. The report can be a simple chart that is frequently updated so that one is aware of the missed deadlines or early deadlines. This will allow you to plan at an early stage so as to overcome delays. As you act as a mediator between the client and the vendor, you should add a buffer before quoting a timeline to the client.

Tip #5: Try and make all revisions on the prototype:

The prototype is a working module that includes the major sections of each step in your project. We should try and work with this prototype, get the initial approvals and refine the look, the feel, and the usability of the interface. Examine, test, change, and ultimately approve the colors, fonts, menu structure, location of the navigation buttons, and interface metaphors. The interface should be approved and locked-in before a significant part of the script is completed so the writers will have an accurate sense of screen space while allocating text and specifying graphics.

Tip #6: Make all content revisions in the script:

After the prototype, the next major step from the production team is the script or storyboard. It is very important to review the words, pictures, and sounds that will appear in the final program. Many clients give only a cursory glance at this document and then end up requesting substantial changes after the content has been implemented. It is very time-consuming and expensive to change content after it is implemented in the program. Unless there are obvious typos or mistakes in grammar, revisions to content after it is implemented should be avoided.

o Improved Vendor Performance -- Transparency of the project between you and the vendor is very crucial. It also helps you discover how to create and leverage opportunities to improve vendor performance.

o Get what you pay for - It is very important that the vendor delivers the product/quality that was agreed on and is your requirement. The above tip helps you achieve it.

o Just to remind you -- never accept vendors at face value. Analyze and test them at your level to build a positive business relationship.

o Also recognize that while you expect value for the money you spend with a vendor, the vendor is also in the business to make a profit and has to cover overhead expenses that may not seem obvious to you or your staff. Always let your vendor know you are interested in a mutually profitable relationship.

o Use your vendor representatives as a resource for information and advice. However, be respectful of the time the vendor's representative spends with you. Remember that time is money for both of you.

o Listen to your vendors -- Companies may be wasting their energy if they put specific segments of their business out to bid. Instead, Verticalnet's Habig suggested that better strategic results are achievable when companies let their vendors bid on the parts of their business that they want the most.

Highlights of Vendor Management:

o Helps streamline, simplify and standardize your workforce processes

o Allows you to increase vendor quality, and helps you make better-informed workforce decisions

o Enhances efficiency and helps you manage risk

o Reduces costs by helping you lower vendor rates, eliminate maverick spending and manage headcount to budget

o Lets you focus on strategic human resource functions without the headache of managing E-learning modules/application

Vendor Management enables you to maintain a preferred list of clients, vendors, and suppliers to ensure successful relationships. A well-orchestrated strategy of cost management, working-capital management, and technology-driven productivity will make your business run smoothly.

There are many ways employers can promote work-life balance in office, some of which are: company outings, offering remote working and flexible hours, providing good health coverage, encouraging employee education.

Improve Customer Experience by Overcoming Ethnocentric Customer-Centricity

Best Recruitment And Selection Process

Empowering employees like Sales And Marketing Director to take control over their work and home lives can have a profound impact on their job satisfaction and performance, enabling companies to achieve success. Achieving work-life balance is a daily challenge. It can be tough to make time for family, friends, community participation, spirituality, personal growth, self-care, and other personal activities, in addition to the demands of the workplace.

How should the practice of business continuity evolve to manage the threats and opportunities faced by organizations today and in the future?

Business resilience is the ability an organization has to quickly adapt to disruptions while maintaining continuous business operations and safeguarding people. The CulturalManagement provides experts to partner with your organization and develop a comprehensive emergency preparedness and disaster management program.

It's easy to be ethnocentric about customer-centricity! Enthnocentrism is the tendency to look at the world primarily from the perspective of one's own culture. How often do we view customer experience, loyalty, word-of-mouth marketing, and customer care from the perspective of our own company culture? I'd venture to say "too often"!

In the name of customer advocacy, we tend to have a number of exciting customer relationship-building programs in place: advisory boards, user groups, reference programs, satisfaction surveys, experiential marketing, personalized customer communications, and much more. These are indeed useful efforts -- but their usefulness is exponential when we put aside ethnocentrism for true customer-centrism. The key is in examining our motives.

Ethnocentric Customer Advocacy

Inside-out advocacy seeks to build customer relationships through these primary motives: design new products, obtain new customers, up-sell and cross-sell current customers, determine employee bonuses, and so forth. These motivations are ethnocentric because they are essentially self-serving. Sure, the customer may benefit along the way, but the focus is foremost on company revenue. With this focus, the benefits to customers are short-term at best. And the company's outreach efforts must be constant to keep the wheel moving.

True Customer-centric Customer Advocacy

Outside-in advocacy seeks to build customer relationships through these primary motives: make it easier and nicer for customers to get and use the solutions we offer. With those primary motives securely in place, secondary motives may include: design new products, obtain new customers, up-sell and cross-sell current customers, determine employee bonuses, and so forth. The company will certainly benefit along the way, but the focus is foremost on customers' ease. With this focus, the benefits to customers are long-term and self-sustaining. By making it easier and nicer for customers to get and use the solutions we offer, our ambivalent customers are more likely to migrate to brand enthusiasts, positive word-of-mouth accelerates, and both revenue and profit growth are sustainable in an almost auto-pilot mode, relative to the ethnocentric motives scenario.

Waste of Inward Focus

An executive once told me he'd be glad if his company had only manufacturing and sales functions -- just the bare minimum to make and sell solutions for customers. He was really commenting on the excessive inward focus and waste that tends to occur in companies. Certainly, customers expect additional services around the solutions they buy: safety, quality, financing, upgrades and innovations, and so on. And that's why companies exist -- to make and sell whole solutions for customers. After all, it's the customers who make our payroll dollars possible! And truly customer-centric companies keep that thought at the forefront, with pure primary motives to make it easier and nicer for customers to get the solutions they need.

Customer Experience Management

Customer experience management (CEM) is an essential methodology for being a truly customer-centric firm. CEM brings an outside-in focus and pure motives to all groups within the firm. It's the key to creating strong customer perceived differentiation from the competition, as truly customer-centric customer advocacy encompasses the customer's full experience spectrum. CEM makes it easier and nicer for customers to get and use solutions.

Ethnocentric customer-centricity is easy to fall into! Executive champions must be on the alert to prevent it. Outside-in motives prevent waste and and generate big results. The usefulness of any customer relationship building program is exponential when we put aside ethnocentrism for true customer-centrism.

When a Sales And Marketing Director spends the majority of its days on work-related activities and feel as if they are neglecting other important components of their lives, stress and unhappiness result. Thus, you must learn to draw a clear line between your personal and work time and set clear expectations with your colleagues.

Head Of Finance Newton Team Building For Employees

Work-life balance as a Head Of Finance Newton is a term used for the idea that an individual needs time for both work and other aspects of life (personal interests, family and leisure activities).

Our schedules are getting busier than ever before, which often causes our work or our personal lives to suffer. The compounding stress of Head Of Finance Newton from never-ending workday is damaging. It can hurt relationships, health and overall happiness.

Hypothalamus - Role in Motivation and Behaviour

The best work-life balance is different for each of us because we all have different lives and different priorities. Work-life balance doesn’t mean an equal balance. There is no perfect balance you should be striving for. At the core of work-life balance is meaningful daily Achievement and Enjoyment.

Relationship Between Innovation And Strategic Management

When employees feel a greater sense of control and ownership over their own lives, they tend to have better relationship with management and tend to feel more motivated and less stressed out at work, which in turn increases company productivity and reduces conflicts.

Companies that encourage work-life balance have become very attractive to workers. These companies also tend to enjoy higher employee retention rates and more loyalty. Promoting balance is beneficial to both employees and companies.

A vendor management system (VMS) promises freedom from the chaos that can be caused by juggling the vast array of components in a staffing supply chain. It does this by pushing everything through a central processing point. Yet the business side of making these transitions can be complicated and disastrous if not well planned. How do you ensure a successful VMS implementation? After spending months with companies and vendors in developing ContractCentral we've learned some valuable lessons about making the transition to vendor management system.

1. Know why you're buying a VMS

Organizations deploy VMS systems for different reasons. Will your VMS foster competitive bidding to lower staffing costs? Speed requisition broadcasts? Reduce the time it takes to find and manage contract workers? You'll save time and money by building a prioritized list of those reasons, understanding must-haves and trade-offs, and using that list to spec, evaluate, plan and build a VMS solution tailored to your business.

2. Establish success metrics up front

How will you define success or failure in your VMS implementation? Identify at least one measure of success for each of the items on your priority list, and develop metrics that enable you to prove the value of the new system. Establishing metrics early, before the project has started, allows you to create and track baselines. These days CFOs are increasingly concerned with making total cost of ownership (TCO) and return on investment (ROI) a central facet of the solution. Establishing a hard dollar value can be tough (be sure to ask prospective vendors for suggestions) but can go a long way toward winning loyal support from senior management.

3. Map VMS against your own business processes

Any major solution implementation can require a few tweaks to your business process as it's deployed. The trick is to prevent tweaks from becoming major process re-engineering (unless, of course, a re-engineering is part of the plan).

Before telecommunications company ADC deployed HotGigs ContractCentral, it studied its existing staffing operations and determined that some re-engineering was necessary. Those changes became an early part of the deployment plan, allowing the team to craft retraining and support strategies to ensure a smooth transition.

4. Understand your costs

The industry rule of thumb says a VMS shouldn't cost more than 1 to 3 percent of your hiring budget, and you can anticipate saving 10 percent to 25 percent of your staffing costs through increased efficiencies and more competitive bidding.However, don't overlook hidden costs. How will your employees manage staffing during the transition? Have you budgeted for retraining your users and participating vendors? Does your contract include post-deployment enhancements? Is there an early penalty for canceling a VMS purchased for a set term?

5. Put yourself in your vendors' shoes

Be realistic about your staffing vendors' costs as well. The higher the cost of integration with your new VMS, or the more deltas there are between their system and yours, the less likely you are to get accurate inputs and prompt responses.

5. Build a training plan

If training is needed, are there online training and support modules available? How much training time will each user need? Are there different views available of the user's desktop in the VMS based on their role and relationship to the system?

6. Plan to scale

One of the greatest success factors of a software application is its rate of adoption with the people who are supposed to use it. If your initial roll out is successful, your users will inevitably begin to use it in new ways, find new reporting requirements...and sooner or later you'll be faced with a need to scale. Make sure your VMS can handle the load without the need for extensive custom-coding, an expensive proposition. In addition, opt for the smartest, most flexible reporting structure possible.

There are many ways employers can promote work-life balance in office, some of which are: company outings, offering remote working and flexible hours, providing good health coverage, encouraging employee education.

Motivation - The 3 Aspects of Human Behavior You Must Know to Succeed

Top 3 Causes Of Job Satisfaction

Empowering employees like Head Of Finance Newton to take control over their work and home lives can have a profound impact on their job satisfaction and performance, enabling companies to achieve success. Achieving work-life balance is a daily challenge. It can be tough to make time for family, friends, community participation, spirituality, personal growth, self-care, and other personal activities, in addition to the demands of the workplace.

How should the practice of business continuity evolve to manage the threats and opportunities faced by organizations today and in the future?

Business resilience is the ability an organization has to quickly adapt to disruptions while maintaining continuous business operations and safeguarding people. The CulturalManagement provides experts to partner with your organization and develop a comprehensive emergency preparedness and disaster management program.

The previous two parts of this series explored how important it is for sales people to understand what is driving their customer to buy and to understand what the customer's expectations are. In this article we are going to look at how to proceed once we have the understanding we need of our customer.

In the first article in this series, I stated that most sales people have more than one product or service line at their disposal to meet clients needs. Marketing departments keep coming up with more and more variations even of the same product for different uses and to serve various markets. Some of the features may be the same, maybe even the benefits will be similar, but how these meet our customer's expectations will vary greatly.

In the last article I noted that if we do not understand our clients expectations we cannot meet them. Our product/service will create buyers remorse in the customer and thus we will have a dissatisfied and probably very vocal customer. So if we understand what need our client is trying to satisfy and how they expect our product/service to satisfy the need and we have determined that in fact our available products/services can meet that need and meet or exceed the clients expectations, now what?

Let me give a very simple example of all of this. I am a customer of a roadside beverage stand and I want to order a drink. The sales person has a couple of options: 1) They can simply provide me with their most popular beverage and hope for the best, 2) they can find out the size of the beverage that I want and maybe a preference (Coke vs Pepsi), 3) They can find out more about my situation, explain my options to me and help me to make the best decsion based upon my needs and expectations.

Okay you are thinking I am making a mountain out of a mole hill here, it is a drink for Pete's sake, you are thirsty take what he gives you and be happy, children in other countries don't have anything to drink! Stay with me here, if I am competing in some type of sporting event, or I am a diabetic or I believe that when I am hot, a hot drink will cool me better than a cold drink, or what if all the stand has is alcoholic beverages and I am opposed to alcohol, or allergic to corn syrup or I just plain won't drink anything without carbonation. What if I am extremely offended at wasefulness and I know that I can not drink more than 16 oz and the clerk gives me a 32 oz drink, or I am on a diet where I have to measure my in take?

These things all have to do with my need and my expectation. If I order an ice cold carbonated beverage and expect it to warm me when I am cold, I will be sorely displeased. My expectation has not been met. Worse yet, If I am coerced or persuaded (manipulated/sold) an ice cold beverage, how satisfied am I going to be?

Customer satisfaction hinges on our ability to meet their needs and expectations, this cannot be done if we do not understand those needs and expectations or what they are. Secondly, a buyer is much less likely to be dissatisfied with a product/service that they feel they chose because it was the best possilbe alternative, even if it does not completely meet their needs and expectations. The most important part of consultative selling is in the presentation. A sales person cannot be persuading or manipulating the customer to buy, but must instead be giving them the information they need to make their own decision.

In one of the previous articles I made a statement to the effect that an objection is merely the customer telling us that they do not yet trust us and we have not yet developed the needed rapport. In this part of the process this is a very important concept. If we take a position of trying to defend ourselves or our product/service in answering objections we are furthering a confrontational position against the customer and eroding instead of building rapport. Conversely if we take the this opportunity to confirm our understanding of the what the client has told us their needs and expectations are, we are showing our sincere interest in meeting their needs and expectations. We are no long confronting them, but advocating them. We don't overcome objections, we understand them, don't merely empathize or sympathize, but understand.

If we do in fact understand the customer's needs and expectations, the solution will be clear. We can then explain the options we have to meet the clients needs and expectations and THEY can make a decision. They are not sold anything! They make a decision to buy. If the decision is solely the client's, they cannot be dissatisfied with our product/service, only with their own decision to buy it. If sales people are able to convey their understanding of the client's needs and expectations to the client and the client assents that they are corrrect, and the client is given the information that they deem satisfactory to make a decision with out coercion or prompting (with out being sold) then the decision is theirs alone, and they know it. There will be no resentment towards the sales person, they have been nothing but helpful, and no resentment towards the product/service, I knew going in what the options were, I just chose poorly.

In short, once we understand the customer's needs and expectations we must present to them all the options that are potential solutions. If they don't buy now, they will, either because your industry has improved a product that can now meet their needs/ expectations better, or because they have a new or differnent need/expectation that your product can fill, because they want it to. We have taken the time to build adequate rapport, in fact a relationship, we are now a trusted advisor and people want to do business with trusted advisors. People like to buy, they don't like to be sold to. People like to make decisions, they don't like to pick one and hope for the best. Understand your clients needs and expectations and help them to find the best solution. Don't try to force your solution as the best and for crying out loud----Let the Customer Buy!

When a Head Of Finance Newton spends the majority of its days on work-related activities and feel as if they are neglecting other important components of their lives, stress and unhappiness result. Thus, you must learn to draw a clear line between your personal and work time and set clear expectations with your colleagues.

IT Consultant Paya Lebar Team Building

Work-life balance as a IT Consultant Paya Lebar is a term used for the idea that an individual needs time for both work and other aspects of life (personal interests, family and leisure activities).

Our schedules are getting busier than ever before, which often causes our work or our personal lives to suffer. The compounding stress of IT Consultant Paya Lebar from never-ending workday is damaging. It can hurt relationships, health and overall happiness.

Improve Customer Experience by Overcoming Ethnocentric Customer-Centricity

The best work-life balance is different for each of us because we all have different lives and different priorities. Work-life balance doesn’t mean an equal balance. There is no perfect balance you should be striving for. At the core of work-life balance is meaningful daily Achievement and Enjoyment.

Stress Management For Employees

When employees feel a greater sense of control and ownership over their own lives, they tend to have better relationship with management and tend to feel more motivated and less stressed out at work, which in turn increases company productivity and reduces conflicts.

Companies that encourage work-life balance have become very attractive to workers. These companies also tend to enjoy higher employee retention rates and more loyalty. Promoting balance is beneficial to both employees and companies.

INTRODUCTION

Procurement researches sales records and inventory levels of current stock, find foreign and domestic suppliers, and stay current on any changes in either the supply of or demand for needed products and materials.

Production and Manufacturing are closely related but are not one and the same. Manufacturing involves activities from research, design and development, production, logistics, and service provision to end of life management. Production involves the processes of making, shaping, etc., while manufacturing involves the process of getting raw materials to goods and their associated services

Purchasing managers, buyers, and purchasing agents aim to find the best merchandise at the lowest possible purchase cost.

Purchasers and buyers find the best goods or services, choose suppliers, negotiate prices, and grant contracts that ensure that the right amount of the product or service is received when it is needed.

PURCHASING AND MATERIALS ACTIVITIES

The Purchasing Manager plays a pivotal role in procurement, vendor development, and negotiation. The manager plans, organizes, directs, controls, and evaluates the purchasing activities of the company. The manager provides expertise in specifying and procuring new and replacement components, parts and equipment, and reviews technical and quality requirements for the purchase of items, spare parts, and services.

To operate cost-effectively the company requires competitive prices commensurate with the technical and service requirements, and the security required by the business.

The role is to manage and operate this process, in particular developing processes to capture and control expenditure and linking with suppliers, both current and potential, to ensure that best prices and quality is achieved.

The Purchasing Manager develops purchasing policies and procedures and controls the purchasing department budget.

Relationship Management

* Manages day-to-day functioning of purchasing group.

* Reviews purchase orders to ensure adherence to quality and procedures.

* Ensures that re-ordering of stock is carried out on a daily basis as required to maintain adequate stock levels of parts for production.

* Understands assembly process thoroughly to ensure that the material is delivered just in time.

* Participates in the creation of forecasts, and relates those to production programs and stock required for the daily production round.

* Represents purchasing in discussions and strategies aimed at improving overall integration of purchasing, assets, and accounts payable.

* Liaise with Technical department when creating new products or in matters relating to product specification.

* Participate in the development of specifications for equipment, products, or substitute materials.

* Reviewing the technical specifications for accuracy and completeness.

* Manages the creation and maintenance of Equipment Bill of Materials.

* Overseeing the technical and QA requirements on all items (materials, components, and parts) to ensure that purchased items meet design requirements.

* Managing the shipping, handling and storage requirements on components to ensure high quality items are received and issued to the appropriate departments.

* Standardizing and managing the evaluation of replacement items for obsolete parts and component acceptability.

* Support & Coordinating with the various Departments for Procurement of Common Raw Materials & Packaging Materials.

* Coordinate with various departments for smooth functioning of departmental activity, particularly with Accounting department.

* Rate contracts/tendering /market surveys and data bank of prices for ready reckoning and instant estimations.

* Prepares, monitors and controls department business plans / budgets

Supplier Management and Vendor Sourcing and Analysis

* Undertakes Vendor Analysis & Development of new Vendors.

* Identifies early suppliers for company components, concepts, and production programs.

* Manages vendor documentation program, ensuring that a tracking system is in place and maintained.

* Works closely with potential production suppliers to ensure effective support.

* Searches on a worldwide basis for technology suppliers, technology partners, and future potential suppliers for the company and keeping up with market trends.

* Proactive and acts on initiative to maintain a supplier base and when necessary source alternative suppliers to ensure that the required material products remain in constant stock as required.

* Proactively ensures all suppliers adhere to agreed service levels and to have contingencies plans of supply for all core product ranges.

* Develops and implements appropriate long and short term strategic and tactical initiatives in order to achieve specific buying, sourcing targets.

* Supports the Product Design Group with supplier negotiations, supplier timing plans, and cost forecasts to achieve the most cost effective component delivery.

* Negotiates and executes contracts with the vendors as per requirement of quality, cost and delivery.

* Maintains data of all the prices approved as a record and keeps track of changes in prices frequently and updates.

* Reviews purchase orders to ensure adherence to quality and procedures.

* Oversees the purchase orders to Vendors and order acknowledgements from the Vendors.

* Follows up with Vendor for delivery and to get the material at the right time and required quantity at required locations.

* Follow through on outstanding back orders.

* Maintains effective record keeping on all purchase orders and supplier confirmations.

* Coordinates with accounts for payment of suppliers and resolve issues if any.

* Reviews and processes claims against suppliers.

* When necessary, to develop a sub-contractor base whether local or direct to market level and to set-up on-site, sub-contractor QA and process improvement activity.

Cost Reductions and Efficiency Improvements

* Evaluates cost and quality of goods or services.

* Monitors International Trends in Raw Material for effective negotiations.

* Continuously tries to reduce outgoing funds while not compromising on product quality.

* Obtains best prices for imports from carriers.

* Cost Cutting through negotiation with suppliers (domestic/foreign).

* Negotiation and pricing of current and new products.

* Streamlining production, identifying and eliminating inefficiencies.

* When necessary, Just-In-Time purchases to minimize inventory cost.

* Updating and revising existing purchasing procedures to introduce cost cutting measures.

* Balancing regional and global approaches.

* Accurately monitoring and forecasting stock levels.

* Researching and identifying new products and suppliers.

* Always seeking reliable vendors or suppliers to provide quality goods at reasonable prices.

* Precise monitoring of quantity and timing of deliveries.

* Ensuring relationships with existing suppliers are kept manageable and in the best interests of the business - be this through initiating commercial negotiations, implementing improvement programs and making certain quality, cost and delivery are guaranteed.

* Maximizing the supply chain efficiencies for all accountable suppliers and accounting for the in, and outbound supply chain for the business against agreed service and targets.

* Highlighting purchasing opportunities where identified.

* Managing and developing a solid relationship with suppliers to reduce costs and improve quality including on-time deliveries.

* Plans material as per the requirement of assembly processes to support improvement in the production flow.

* Overseeing continuous improvement initiatives to drive process optimization.

* Developing and managing obsolescence programs, including the strategic direction for components and materials.

Team Relationship

* Provide leadership to the team.

* Supervise and motivate the team.

* Develop and train staff to ensure that they meet required performance standards.

* Support in execution of Service Contracts.

* Liaise with support staff as appropriate.

* Provide guidance to staff in handling employee inquiries and to ensure that matters are resolved.

* Demonstrate credibility to win the confidence and support of the top management, suppliers and partners.

* Interact with suppliers, customers, customers' agencies (Artwork Houses etc.), and agents, suppliers and prime producers supplying all group companies.

* Provide assistance to all departments as required.

* Deal effectively with executive, technical and operational and sub-contract personnel.

There are many ways employers can promote work-life balance in office, some of which are: company outings, offering remote working and flexible hours, providing good health coverage, encouraging employee education.

The Naked Truths About Vendor and Contract Management

Resilience Training Online Apac

Empowering employees like IT Consultant Paya Lebar to take control over their work and home lives can have a profound impact on their job satisfaction and performance, enabling companies to achieve success. Achieving work-life balance is a daily challenge. It can be tough to make time for family, friends, community participation, spirituality, personal growth, self-care, and other personal activities, in addition to the demands of the workplace.

How should the practice of business continuity evolve to manage the threats and opportunities faced by organizations today and in the future?

Business resilience is the ability an organization has to quickly adapt to disruptions while maintaining continuous business operations and safeguarding people. The CulturalManagement provides experts to partner with your organization and develop a comprehensive emergency preparedness and disaster management program.

Deciphering consumer's behavior is the biggest challenge before the manufacturing companies. The success of any product and service largely depends on the consumer's response and behavior. There is no set test to analyze consumer's behavior. The behavior of consumer is affected by several factors and these factors directly indirectly influence the buyer's behavior. Many scientific methods are followed by the companies to analyze the consumer's behavior.

Consumer behavior is exposed to various factors and these factors directly and indirectly influences a consumer's decision in choosing a particular product. A factor such as motivation, learning, and perception great affects consumer's decision. There are several outer factors such as culture, environment as well.

Companies are spending millions of dollars to examine and analyze the consumer's behavior so that they can design and develop a suitable product for the consumer class.

Earlier it was believed that creative advertisements with the catchy lines have the power to affect consumer's buying behavior but the latest experiment does suggest that environmental cues can influence what you like and buy. According to latest research creating a link between a product and something in the environment will surely motivate the consumer to give a second thought about the products and buy it. Though it cannot be generalized but research has shown that establishing relations between a product and something from your outer world will increase the probability of buying a particular product.

One cannot deny the role of social norms and social factors in affecting consumer's buying behavior. The popularity of brand name attracts people and people often prefer branded product and trust brand name instead of local product. Buying and supporting a brand name give social acceptance. People often go for big brands and latest hot trend while purchasing apparel clothing and other items. The cultural value of the society also effects consumer's buying behavior. Companies are paying close attention to advertising and they are trying to inculcate the socially acceptable factors in their advertisement to make it more appealing and influencing.

Man is a social animal and we have a tendency to discuss and exchange views on several topics. For example, if the product is visible as clothing, shoes, car etc., the influence of reference groups will be high. Reference groups also include opinion leader (a person who influences others by his special skill, knowledge or other characteristics).

People mostly shop with friends and family and the role of family member is crucial in deciding the final purchase decision. If someone is shopping for apparels, clothes or other items the suggestion of husband, wife or kid will play important role in finalizing the deal. Here we should note that the purchase of roles change with the changing lifestyles of consumers.

• Roles and Status

When we analyze environmental factor in influencing consumer's buying behavior we cannot ignore the role and status of that person, purchasing decisions will be influenced by their role and status.

Lifestyle

Customer's lifestyle is another factor affecting import purchasing behavior of consumers. Lifestyle refers to the way a person lives in a society and express things in their environment. It is determined by the client's interests, opinions, etc., and activities shape their whole pattern of acting and interacting in the world.

A human behavior is highly influenced by the culture and subculture he lived in. Factors like religion, nationalities, and geographical regions affects human behavior. Marketing strategist pay special attention subculture factors while creating advertisement so that it could influence the customers' behavior in a positive way. An advertisement contradicting the accepted norms and standard will not produce the desired result. A good analysis of the subculture will help the marketer to design a product according to the needs of a person residing in a specific geographical location.

The consumer's buying behavior is open to several factors including environmental factor, social factor, personal factor, psychological factors. Marketing strategist and product developers are paying close attention to these factors so that they can come up with the right kind of product and improve the sales of the products.

Consumers for retail goods go with family or friends. I would like to bifurcate as - personal goods such as clothing, cameras, PCs likewise a consumer go to buy along with friends. White goods like refrigerators, Air conditioners the consumer would like to take along family members.

When a IT Consultant Paya Lebar spends the majority of its days on work-related activities and feel as if they are neglecting other important components of their lives, stress and unhappiness result. Thus, you must learn to draw a clear line between your personal and work time and set clear expectations with your colleagues.