Month: February 2022

It is said in business that customer acquisition is an investment but profitability is built on customer retention. In other words, it typically costs you more to sell to a new customer than it does to a current one. As Read More …

Research and development – generating and experimenting with ideas related to new products, services or processes. Design of products and processes detailed planning, engineering and testing of products and processes some representations of the value chain collectively refer to the Read More …

Increase flexibility and innovations Improves deliveries Improve quality Improves performance and through put Increase the work productivity

Increase productivity Eliminate waste that is minimize the amount of equipment, materials, parts space and workers time, which adds great value to the product To reduce the reorder period. To minimize stock holding costs. To improve the quality of the Read More …

Integrated accounting systems refer to the accounting system where a single set of accounts are prepared. Financial accounts are prepared for individuals external to the firm while management accounts are prepared for the management to help them in planning, controlling Read More …

It can apply for any type of business- manufacturing, retail or service, big or small. With a value chain, efforts can be optimized, waste eliminated and profitability improved. Value chains help breakdown all the activities that go into producing a Read More …