Tag: quality

Business

Adopt The Best Way, Do It With Just-in-time

John Ejiofor / September 11, 2019

Why wouldn’t you want to go for a methodology aimed at reducing flow times for you within the production system and at the same time cut short the long response time you get from contractors and suppliers? That’s what just-in-time (JIT) will do for you if you adopt it, helping you to control variability in your processes and allowing you to increase productivity while lowering costs. The beauty of JIT as an inventory management method is that you don’t need to crap up the whole place with materials, goods, and labor. You schedule the arrival or replenishment of your need to coincide with their time of demand in the production process. Product quality is one area that co-joins the business and the consumer. The consumer wants to have the best of the bests, while the organization does not want wastes to occur especially as regards the rejection of products as a result of poor quality. These are 7 benefits you derive from adopting the JIT method 1. Smooth production flow With the JIT method, you are certain of a uniform production process. Right from the time your raw materials arrive to when you will deliver your products to your consumers,…

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Technology

Why Your Brand Must Insist on Data Quality

John Ejiofor / July 19, 2019

Making a case for data quality of your brand is now more important than ever before. In this era of big data where every organization is hell-bent on laying its hands on as much data as it can, it becomes exceedingly important that you must be assured of the data quality you access. If the report by Forbes that the amount of data produced every day is 2.5 quintillion bytes should be taken into cognizance, then data is surely the next “crude oil” and data quality can’t be overemphasized. According to WhatIs.com, data quality is a perception or an assessment of data’s fitness to serve its purpose in a given context. On a daily basis, organizations depend more and more on data for their operations, data quality has, therefore, become a front-burner issue. SiriusDecisions reports that nearly 60 percent of marketers consider the overall health of their data unreliable.  Once your data quality is poor, expect an avalanche of problems. These problems range from inaccurate reporting to ill-conceived strategies.  Economic damages you have to shoulder due to poor data quality problems border on miscellaneous expenses such as demurrages and transportation fares when packages are wrongly shipped to other destinations right…

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Business

Outsourcing: The good, the bad, and the ugly

John Ejiofor / January 23, 2019

The competition experienced in the global market has tuned up brands to do everything possible to come up with products and services of sterling qualities. To this end, a lot of brands resort to outsourcing in order to fill up gaps that will enhance their competitive advantage. Outsourcing is all about brands hiring sources from outside the company to perform services or create products which ordinarily should have been done in-house by employees and staff of the company. Outsourcing was first recognized as a business strategy in 1989 and became an integral part of business economics throughout the 1990s. In the business world, outsourcing is subject to considerable controversy. A group, especially in the manufacturing sector argues that it has caused the loss of domestic jobs. Supporters say it creates an incentive for businesses and companies to allocate resources where they are most effective, and that outsourcing helps maintain the nature of free market economies on a global scale. The good There are a whole lot of reasons why you may decide to embark on outsourcing some certain tasks in your company. It can help you to reduce labor costs significantly by avoiding expenses associated with overhead. You also have…

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Marketing

Consumers And More Consumers in 2019

John Ejiofor / December 22, 2018

Population in the world is currently (2018) growing at a rate of around 1.09% per year (down from 1.12% in 2017 and 1.14% in 2016). The current average population increase is estimated at 83 million people per year. This simply means that an estimated 83 million consumers will be added to the 7.62 billion world population as at mid-2018. The lifeline of any business is the consumer because it’s only when your products or services are purchased that you may be talking about profit and ROI. Your focus as a founder/CEO as you are going into 2019 and beyond should, therefore, be on the acquisition of customers and more customers. Targeting only 0.1% of the estimated 7.7 billion in 2019 will give you 7.7 million consumers. This will make very good progress for your business given that Amazon, one of the leading online retail platforms worldwide as of the first quarter of 2016, had 310 million active customers. This, however, is not something you can do out of the blues. It requires articulation, strategic approach, and adequate planning, especially now that the modern day consumer has become technologically savvy and advanced, with it becoming more apparent that the consumer wants…

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