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Post by David Wyld on Nov 22, 2013 23:41:56 GMT -6
Students, Please view and comment on this link of the day - yes, for your education, but also for the points, of course! Watch the video below: TITLE - USAMM - Inventory: The Silent Killer
Then, post a comment in reply to this discussion thread. Again, what to post? Here are some ideas: + What did you take away from the video? + How does the video relate in some way to your past experience (work, as a consumer, family, school, etc.)? + How might you use these ideas in your own career? Good luck! David
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Post by boris on Nov 27, 2013 21:47:31 GMT -6
This video can be helpful for small business owners, Jared had his own idea for his business by solving his own problem to ship his military supplies. This is great advice for someone looking for an idea to start a business. To try to find something simple that no other company is offering. Jared also notes that growing your inventory without control can be dangerous because you can tie up your money for a long time. To solve this problem it is important to have technology in order to keep your inventory to a minimum, but also be able to deliver/have products on time.
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Post by tevinrapp7 on Dec 1, 2013 18:16:56 GMT -6
In managing your inventory a company small or big has to keep up with productivity and being efficient in the workplace. Inventory control is essential if you want to run a business that is in high demand, and with certain kind of software databases this is possible. We are the technology there but we have to learn how to use it and develop databases that are compatible for the workplace. Companies need to take advantage of this and manage there inventory.
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Post by kformaggio on Dec 7, 2013 17:04:55 GMT -6
USAMM - Inventory: The Silent Killer
Managing a small business has many upsides and downsides, and as we see here, carrying too much inventory can hurt a small business. Managers need to be able to find way to predict the right amount of inventory the business will need to meet customer demand without holding too much idle products in the warehouse shelves. Zabaldo realized that his company could not afford an expensive inventory management system, but lucky for him, his brother was able to use his technology background to create a program for USAMM to manage its inventory and get customers' orders processed quicker. Companies should take advantage of sophisticated systems (or homemade) ones like this to manage its day-to-day activities.
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Post by kristin on Dec 8, 2013 0:41:58 GMT -6
USAMM - Inventory: The Silent Killer
I enjoyed this video. It was neat to see he created his company out of his own problem. There is truth to this video. Managing inventory is important. It is extremely important to carry just the right amount of inventory. You can have to much or too little. A program to help manage inventory is great. Small companies do not have the resources to make costly inventory mistakes.
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Post by rpajares41 on Dec 8, 2013 15:53:31 GMT -6
I liked this video, it gives the person watching it some insight into what goes on with a small business. The problems that come up have to be solved within a budget. He says be resourceful, that is the best advice that was given and its true, being a small business is difficult because they don't have deep pockets so everything must be followed closely. He speaks of investing large amounts of money that won't be seen for months, he says this is a trying time because the business can go into debt very quickly. The key to being a good business owner ultimately comes down to how resourceful an owner can be, and how well they can critically think of solutions to problems the business faces.
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Post by bgoree13 on Dec 8, 2013 20:30:21 GMT -6
USAMM - Inventory: The Silent Killer
Managers need to be able to find way to predict the right amount of inventory the business will need to meet customer demand without holding too much idle products in the warehouse shelves. Zabaldo realized that his company could not afford an expensive inventory management system, but lucky for him, his brother was able to use his technology background to create a program for USAMM to manage its inventory and get customers' orders processed quicker. Companies should take advantage of sophisticated systems ones like this to manage its day-to-day activities.
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Post by phenry on Dec 9, 2013 15:51:59 GMT -6
TITLE - USAMM - Inventory: The Silent Killer After watching this video, I did not take away too many life lessons or ways I can apply this to my personal life or business life. I will say the creator of USAMM was very innovative and hard working to be able to get this business that he started from scratch into a well working organization. It would be interesting to see more of a company level breakdown on how everything in his business works.
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Post by jayjenkins on Dec 9, 2013 18:12:50 GMT -6
This video is about an ex military personal making his own business the would help satisfy he already personal wants. He found that he was having a really hard time keeping track of inventory, so he had his brother come help him. His brother made a program to help his brother keep track of their inventory. By doing thins his business has be come far more organized and profitable.
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Post by abramt110 on Dec 9, 2013 18:50:55 GMT -6
Managers need to be able to find way to predict the right amount of inventory the business will need to meet customer demand without holding too much idle products in the warehouse shelves Zabaldo realized that his company could not afford an expensive inventory management system, but lucky for him, his brother was able to use his technology background to create a program for USAMM to manage its inventory and get customers' orders processed quicker. Companies should take advantage of sophisticated systems ones like this to manage its day-to-day activities.
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Post by ebonisw on Dec 9, 2013 20:34:53 GMT -6
This is a very interesting insight to things that can help or hurt a business. It is important to know the type and amount of something to have in inventory because it can either be a money maker or a money waster. As a manager, it important to employ cost accounting to assess variables in the company that will limit profits. Inventory is one that you can control so managers need to take advantage of being experts of managing inventory.
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Post by sunnigrabert on Dec 9, 2013 21:10:03 GMT -6
USAMM - Inventory: The Silent Killer It is very difficult to find the balance in having the correct amount of inventory. In the video, he says that resourcefulness is the key tool for small businesses, which makes perfect sense. You cannot necessarily take advice from the huge corporations that have written books and can afford to hold inventories. You have to find ways to make what you can afford work. Find people that know more than you and brainstorm ways to make your system smoother.
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Post by alyssatudor on Dec 10, 2013 1:52:33 GMT -6
This video gave a great insight from a different perspective on something that can truly help or even possibly hurt a business. It is important to know what you need, how much you need, and of course what time of that item you need in your inventory- you do not want to waste money on things that you are not going to sell. It is important to know what is in your inventory and keep track of it. Inventory is a variable that is controllable so managers can take advantage of being the experts of managing their inventory.
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Post by pellirf22 on Feb 17, 2014 18:09:19 GMT -6
TITLE- USAMM- Inventory: The Silent Killer
Programming is a huge part of business in production industries. Supply chain efficiency can be one of the most influential factors to a businesses success. In the case of USAMM managing inventory more efficiently propelled them to new levels of success and for production businesses today this trend will only continue to grow.
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Post by rjmonico on Feb 18, 2014 19:56:58 GMT -6
I would definitely share this link with friends and colleagues. Thanks professor! I think that this video really hits home when it comes to inventory control. When you own a small business keeping a low inventory control is vital because using money that is stagnant on inventory that is not turning over can put a company under. Bottom line and inventory control are 2 areas that are controllable in a business. Being able to be efficient in these areas can really dictate how profitable a company is.
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