Procurement, Inventory & Production
Production planning is “the administrative process that takes place within a manufacturing business and that involves making sure that sufficient raw materials, staff and other necessary items are procured and ready to create finished products according to the schedule specified”, as defined by the Business Dictionary. Are you a manufacturing firm? If so, you will need a production plan to ensure that you have all the inputs for production ready at the right time to meet your product demand. Learn why production planning is important and the main steps involved in the production planning and controlling process.
The high crime rate is a reality of doing business in South Africa. It is because of this that security is one of the most important aspects of running a business - it's not an area where you can afford to cut corners. Smaller companies, with fewer resources to secure themselves, are particularly vulnerable. Find out what basic measures you can put in place to make your business less of a target. This article looks at various ways of assuring your company and your employees' safety.
Since 1969, the SABS Design Institute has been dedicated to human-centered design, which has the potential to stimulate growth in South Africa’s manufacturing industry. Focusing on the country’s design capabilities, it has become an agent for change and facilitated valuable socio-economic development. The Institute translates research & development and invention into sustainable economic opportunities, while creating a general awareness of design.
Simply put, inventory management refers to the act or process of keeping track of or managing the stock in your small business. It is a crucial aspect of running a profitable business because the inventory you keep is essentially potential profit in the form material goods such as food, clothes, etc. Holding on to inventory should therefore be something to avoid as it will tie up your cash flow.