In this article, we will define demographics, with examples and highlight their importance in terms of business marketing, and decision making as well as their use in public sector for policy making. The term demographics is mainly used to imply the characteristics of a population segmented or categorized based on distinct criterial like age, sex …
What are demographics? Applications of demographic data Read More »
In this article, we will discuss the basic elements of inventory management and inventory control and the difference between the two processes. While inventory management and inventory control may sound similar and are often mistaken for each other, the strategic focus of the two processes is different. While inventory control deals with the stock on-hand …
Inventory turnover refers to the period that passes from the day an item is purchased to the day it is sold. One complete turnover denotes that the company sold the stock it purchased except the items that were lost to damage or shrinkage. Inventory turnover is important for companies in various areas from manufacturing to …
In this post, we will discuss planning, its advantages for businesses including operational and financial benefits as well as the limitations which affect planning and its impact on business success. Why should businesses plan? Planning is an essential business activity and critical to growth and expansion for organizations. It helps at proper organization and utilization …
In this post, we will discuss planning and types of planning and their importance in the context of business and competitiveness. Let’s see how business use various types of planning to grow their productivity and manage various types of risks and challenges. Planning is an essential business activity. Organizations that have an effective business planning …