Monday, 31 October 2016

What is the role of a fashion buyer?

Fashion buyers have the responsibility of overseeing the development of product ranges that are targeted towards certain buyers and within a certain price bracket. The role does differ between companies and there are different levels of seniority found within the buying team.  Smaller stores may have only one buyer. Larger companies normally have a larger team consisting of:

· Trainee buyers
·  Assistant buyers
·  Buyers
·  Buying managers
·  Buying directors


The buyers may have different titles, such as selectors. It’s vital that all team members communicate effectively together and with their suppliers and other internal departments within the company.

Most buyers will be allocated the job of buying merchandise in a specific product area. Smaller company buyers will have a wider range to buy for and their buyers may also be involved in promotion and sales too. Buyers in larger companies will have a more focused job, mainly focusing on one product, such as women’s shirts. This means they also have a higher level of responsibility regarding financial turnover.  Many of the larger companies will have separate buying departments for womenswear, menswear and childrenswear. Buying the merchandise is then subdivided into product ranges such as footwear, accessories, swimwear and so on.

How do we win and retain customers through logistics?

Here are four ways we can retain customers with logistics.
  • Loyal customers are seen more advantageous than new customers. So, the logistics challenge is to exceed customer expectation by providing superior quality of service in order to reinforce customer loyalty.
  • Customer relationship management is based on the principle that customer loyalty is strengthened by continuously extending marketing strategies. Each phase of logistics development increases the demands on the logistics capabilities.
  • Logistics priorities are set with the market segments in mind. The marketing and logistics functions work together to set the logistics priorities. Qualifier’s and orders winners are a common language used between marketing and logistics.
  • Use demand profile and competitive profile to change the current approach to segmentation so it works in logistical terms. Change can be made by diagnosing, understanding and re-engineering the approach using logistic strategy drivers.

Saturday, 29 October 2016

Chit chat: Why procurement of medical supplies requires good product knowledge?

It's essential to have good product knowledge when procuring medical suppliers. This is down to the complex features and practical uses of the products. The required knowledge can only be gained in clinical settings. It’s assumed that it’s necessary to have a complete understanding of the medical conditions that the product is most suitable for. This is why many physicians place the order for complex medical devices themselves, rather than using the purchasing department to place the order. The hospital pharmacy will also purchase the pharmaceutical products. The possible problems are not only found when ordering complex products. Consumables or the one-way products used by the patient or directly by healthcare professionals require input.

For regular low volume orders placed by individual healthcare professionals, it’s not possible to secure the benefits gained by ordering high volume purchases.  This is one of the dilemmas faced when purchasing medical suppliers. The adverse effects of placing individual orders can be changed only by ordering significant volume levels. It needs to channel all orders through the purchasing department and standardising the product portfolio and group purchasing.  The method can reduce the influence of the clinicians on the choice of products ordered and used.

Healthcare professionals do need to come together to create strategic measures for the procurement of medical suppliers. Only the combined efforts of clinicians and the purchasing departments will optimise the product selection. Electronic procurement can automate the processes but it also provides data that are required for the continuous monitoring. The continuous monitoring is essential for strategic measures that are decided by the committee.  By sharing information and knowledge between the customers and suppliers, manufacturers and clinicians can collaborate together.

Friday, 28 October 2016

What is customer service in the context of logistics?

  • The upstream relationships that exist between members of a network are regarded as business to business (B2B). The business to customer (B2C) is the handover to the end customer, which is why B2B relationships need to be aligned towards B2C.
  • Marketing involves analysing and evaluating segments and targeting them. The segments have to be measurable, accessible, actionable and economically viable. Loyal customers are the source of growth, security and profit.
  • Place, the fourth P, is a key logistics contribution to marketing. Included in this are decisions about channel selection, distribution systems, dealer support and market coverage.  Product decisions such as product range and promotions are also supported by logistics.
  • Service processes are where the supply networks end. This is where the end customer is present. Gaps are possible between what the customers expect the service to be and what it actually is and how the customers perceive the service when it’s delivered.  These gaps and the size of the gaps will have implications for service quality and they’re a driver for customer loyalty.



Thursday, 27 October 2016

Setting priorities for logistics strategy: How can we use such knowledge to improve logistics strategy?

Specify Future Approach

It’s possible to revisit customer value profiles using logistic strategy drivers. The purpose is to come up with a fresh approach to segmentation that works in terms of logistics.  Determining the type of customer values is the first step. Then it is used to see the implications on logistics strategies. It’s then possible to come up with the different segments that are typified by the customers. Here’s an example:

Logistic Strategy Drivers
  • Demand Profile: volume, variety, demand variation, demand uncertainty
  • Competitive Profile: Hard objectives, supporting capabilities and soft objectives
Both of these drivers have the following implications for logistics strategy:
  • Buffers in the supply chain: customer waiting times, inventory and excess capacity position and amount
  • The amount of the supply chain that is customer order driven: which of the processes are speculative
  • How is material controlled: centralised or decentralised planning and control
The segments that are created on the masses that both customers want on time and in full deliveries are typified as follows:
  • Customer perceived value
  • Profile of logistics strategy drives
  • Buying behaviour that’s relevant to logistics strategy
All other major types of customers need to be evaluated in order to develop and refine the segmentation strategy.

Wednesday, 26 October 2016

Setting priorities for logistics strategy: How can we segment our market to make it easier to supply?

Priorities help ensure the focus of the supply network is on the end customer value. Additionally, they should help the network of partners to see how the network is performing as a whole providing end customer value. Here’s how we segment the market to make it easier to supply.

Diagnose current approaches
Diagnosing the current approaches to segmentation can help discover what works and what doesn’t when driving elements of the logistic strategy.  Look for links between marketing and other segments and logistics to see if they are effective.

Understand your buyer
Understanding the buyer is essential. Knowing the behaviours of the buyers and breaking them down into groups.  Some examples of behaviours are margin driven behaviour and volume driven behaviour, but there are others. The main point to note is that it’s essential to characterise the different behaviours in terms of their logistics implications. The marketing and logistic perspectives are linked by using winners and qualifiers.

Carry out customer value analysis
The customers expect to gain benefits from products and/or services when comparing the cost they have paid. This is customer value. To measure this value we need to understand what aspects of the product or the service is seen as the value for the customers. We are now mainly interested in the aspects of customer value that have an impact on logistics strategy. Customer value information can be gained by surveying customers and measuring their views on: importance, performance and price level.  Two of the aspects that related to buying behaviours include demand profile and competitive value.

Measure Logistics Strategy Drivers
The demand profile and competitive profile are drivers of logistics strategy.  The demand profile is normally high volume products with low variety and low demand for variability. Examples are washing powders or cars. Demand variability can be created through promotion.

Competitive profile is based on the following competitive factors:

·         Quality
·         Time
·         Cost
·         Controlling variability
·         Uncertainty

Deciding where to focus in order to become competitive can set the company apart. For example, BMW chose to focus on high spec cars made to customer order, while Ford competes on low-cost vehicles that are made to stock.

Tuesday, 25 October 2016

What are the three “value disciplines”?

Value disciplines are a development of service quality, product quality and price model. It’s believed that competitive advantage can be gained by narrowing focus on the following three strategies rather than broadening the focus. The three generic value disciplines are as follows:

1.     Operational Excellence
Operational excellence is where the strategy is focused on the excellent execution of operations. This involves providing an acceptable level of quality at a low price. Companies put their energies into streamlining operations, improving efficiency, low-cost pricing and supply chain management. This strategy is commonly seen in most the large-scale international corporations.

     2.     Product Leadership
Product leadership is where the leaders have strength in innovation and brand marketing. They are often operating in dynamic markets. Their energies are focused on innovation, design; high margins in short timeframes, time to market and development.  Apple is a good example in product leadership. They designed the iPod but also focused on creating a complete ecosystem of innovation alongside their actual product.

3.     Customer Intimacy
The leaders who use customer intimacy provide an excellent level of attention and service to their customers. The focus is on their services and products being tailor made to their customers. They focus on customer relationship management and deliver to the customer’s expectations.

Saturday, 22 October 2016

Quality of service: How does satisfaction stack up with customer loyalty?

Plugging the gaps found in service quality is one way to help improve customer satisfaction. This is called a qualifier for long-term customer loyalty. Customer satisfaction is the quality of service and value for money. It’s how the customers feel about the products and the services. Customer loyalty is the length of time we are able to keep customers. It relates to their behaviour. These two concepts are not the same, but the attitude for customer satisfaction is the key to customer loyalty.

There are huge benefits to be gained from customer loyalty; loyal customers are viewed by their lifetime spending potential.
  • Generate long-term revenue streams
  • Are willing to spend more time
  • Are more cost efficient than acquiring new customers
  • Are more likely to pay premium prices
  • Often increase their spending over time
One of the logistical challenges is to support the development of customer loyalty. Logistics can achieve this by designing and delivering quality services. Quality service is what customers want and this is essential for excellent marketing performance in the long term.


Chit Chat: Why eBusiness in healthcare different from other industries?

A common misconception is that healthcare could easily adapt to the eBusiness strategies established in other sectors. Perhaps it would be easy for them to simply imitate the current methods and use the same tools that are used elsewhere to solve all their problems. However, it’s not that simple. Healthcare needs are different and copying other sector’s ebusiness strategies wouldn’t do justice to the goals in healthcare. Those strategies would also fail in healthcare professionals and the healthcare markets.

The different behaviours of the market, the constraints on the market and the different scenarios are what separating eBusiness in healthcare from other industries.  This is not only true for eBusiness in healthcare but also for eCommerce and eProcurement.

Friday, 21 October 2016

Quality of service: How do customer expectations affect logistics service?

Supply chains involving physical products end with the service processes such as healthcare, distribution and retailing. The service processes involve the customer being presented in some forms, whether physically or online. The service process performance often varies between employees, customers. An example can be seen in a supermarket setting. If you want the best supermarket service, it’s best not to go on Saturdays or on Christmas Eve as the service is under extreme pressure.

The service quality takes place when the service is delivered. This is when the service process, the B2B and the B2C interact. There may be gaps, which is when the expected service processes fail to deliver based on what the customers are expecting.  These gaps are as follows.

  • Gap 1 is the difference between customer expectations and how they are developed by the supplier into a service
  • Gap 2 is the difference between the service specification and how it was delivered to the customer
  • Gap 3 is the differences between what customers expect and how they perceive it was delivered
  • Gap 4 is the differences between how the service delivery is seen by the supplier and customer

Thursday, 20 October 2016

Segmentation: What is segmentation? What are the implications to logistics strategy?

Segmentation is how a certain market splits up into multiple groups of customers having similar needs. It basically means that the market is described as simply as it can be but still emphasises the market’s variety. 

Fast moving consumer good markets usually describe market segmentation from the perspective of the customer. It is important to know what the market wants, the amount they want to pay, what media they pay attention to and how much and when they make their purchases.  Once the profiles are created, the firm can evaluate their relative attractiveness. Here are some examples of how the markets can be segmented:

  • Demographic – age, education or sex
  • Geographic – urban, country, house, regions etc.
  • Behavioural – spending patterns and the frequency they purchase
  • Technical – the way customers use the product

There are some important characteristics of market segments, which are as follows.

  • They have to be measurable and easily identifiable
  • They must be economically viable
  • They have to be accessible either geographically or in terms of media communications
  • They have to be actionable

These are the sets of marketing decisions used to implement the positioning strategy. They are called 4Ps:

  1. Product – The size, range, packaging, design and so on.
  2. Price – The payment terms, discounts, geographical pricing etc.
  3. Promotion – Advertising, promotion to trade and to consumers, direct marketing etc.
  4. Place – Market coverage, distributions, channel selection etc.

Wednesday, 19 October 2016

What are the marketing implications for logistics strategy? – Part 2

Today, we will take a look at the final marketing implications for logistics strategy. We will talk about the influence of internet towards logistic strategy in marketing concerns and how we do segmentation to target our customers.

The Information Revolution

The Internet has exploded in recent years and it will continue to have a huge impact on buyer and supplier exchanges in the future.  The fact is highlighted in the following three areas.

1.    Procurement, new product development and the supply chain management.
Cycle times are being reduced thanks to exchanges. Errors are also reduced along with duplication.  The suppliers benefit from saving costs associated with transactions, reduced errors and an improved marketing presence. Buyers also benefit from reduced costs and quicker procurement cycles and thanks to the supply chain management improvements.

2.    The relationships between buyer and supplier.
Trust is increasing between buyers and suppliers and this helps to develop good trading relationships. Long term relationships are being formed as buyers are remaining with their suppliers rather than increasing their number of suppliers. Information can be shared quickly and even instantly and problem solving is now often a joint venture. Increased outsourcing and supplier led innovation is accelerating thanks to the sharing of information.

3.    Impact on industry structure.
There’s a trend in reducing the amount of manufacturers and suppliers in most sectors as a result of exchanges.  Open book accounting and a reduced traditional markup have been encouraged by the xchanges. They also give support to the tier one suppliers that now act as the service providers.


Tuesday, 18 October 2016

What are the marketing implications for logistics strategy? – Part 1


Types of Customers
It’s important to define the types of customers. Customers are the people who consume or use the product. They are the businesses or the individuals who buy the product –the ones pay for the product. 

There are two types of customers, business customers and the end customers. The previous are the customers who represent the firm’s trading environment. The latter are the ultimate customers for the whole network. These two types of customers are referred to as business to business (B2B) and business to customer (B2C). 

Rising Customer Expectation
Customers’ expectations have risen, generally in line with increases in developing country wealth towards the last half of the 20thcentury. There are many causes for the increase in expectations, such as:
  • Higher levels of general education
  • Increase exposure to lifestyle issues via the media
  • Being able to discern between alternative products

Customers are seeking out more desirable products and expecting a higher level of customer service as a result of the higher expectations. Businesses are also expecting more for their own suppliers. Suppliers have to pay closer attention to the service they are providing as a result.


Monday, 17 October 2016

Why best practice adoption is necessary in performance management?

Best practice adoption is now a necessity. The adoption of best practice can bring competitive advantage in the following situations:
  1. The application of a best practice from one industry to another
  2. Applying the best practice from one process to another
  3. The application of best practice within the same industry and the same process but being more successful due to superior execution
It’s now essential for businesses to use best practices in order to remain competitive. Using best practices can also be applied where competitive advantage is not necessary. Businesses can gain more by using their innovation and resources for service and product differentiation for where they make a difference.  If competitors are given an advantage over your business in any area then you are at a clear disadvantage if best practices can be defined.

Clear benefits are gained from reducing errors and simplifying processes that are core to the business. Using best practices to improve performance gives companies a way of implementing changes with fewer risks and at a faster speed compared with a situation that they designed current processes from scratch.

The following criteria should be met for the most effective application of best practices:
  • The identification of an improvement opportunity
  • The opportunity not to be unique
  • For suitable best practices to be identified for the opportunity
  • The organisation is motivated and has the necessary skills to implement the best practice
  • To find and use the right tools and the organisation is able to effectively use the tools

Saturday, 15 October 2016

Chit chat: How to procure and provide medical supplies?

Medical supplies play a vital role in healthcare combined with products that are procured by healthcare providers. This is because these medical suppliers play an essential role in care. Medical supplies are classified as goods including a variety of items like instruments, medical devices and prescription drugs.

The cost of supplies in hospitals amounts to a third of the total costs. Medical supplies account for half of these costs in the US and the amount is similar in both UK and Germany where the healthcare system differs from each country.

Buying and selling medical supplies is different from buying other products within the healthcare industry. These supplies are only used in healthcare, unlike other products such as food. The complex nature of medical supplies means that buying and selling these products demands greater knowledge than for any other goods used in healthcare. Many of the items aren’t self-explanatory and this is why even clinicians and pharmacists are the ones who do the actual purchasing. They have the relevant experience and background to do this.

Information regarding the legalities of buying medical supplies is required, along with personal experience, studies and information gathered from clinical trials.

Friday, 14 October 2016

How to apply the five steps of best practices in performance management?

Want to know how to apply best practices? 

Here are five steps of measurement, prioritizing, investigation, application and maintenance. The five steps have to be sustained over time to ensure the organisation doesn’t fall behind as the best practices will then be refined and updated continuously.
  1. Identifying an area that provides opportunities for improvement. Looking for areas to improve can be performed from informal observation or by measuring performance against benchmarks, both internally and externally.
  2. Investigating if the opportunity is worth pursuing or not.  It is essential to look for the benefits and decide if they’re worth it or not as it saves resources.
  3. Investigating what’s causing the shortfall in performance through internal investigation and deciding which best practices are the most appropriate to apply. 
  4. Implementing the change.  The investigation will identify the best practices to use are then translated into practical applications. Some best practices may have to be refined or customised to fit in with the business.
  5. Sustaining the change. The best practice implementations have to be sustained and improved over time. Slipping back into old habits is to be avoided as this means all the hard work of implementation will have been wasted.

Thursday, 13 October 2016

What are the types of best practices in performance management?

There are many different types of best practices in performance management. Some best practices are centred on processes, information, technology, policy and people and organisation. They can provide a complete framework for operating at the highest level of performance when all put together.

Policy best practices establish the rules and the standards that govern the operation of the process. The most effective policies are the ones that are practical and logical and they ensure compliance while remains flexible. Process best practices describe the technique that needs to be followed to complete a task. Strategic plans are similar in that they take an idea and transform it into an action plan. Then it is translated into a financial representation to show how the resources can be allocated for the plan.

The information best practices take all the aspects of a process, bringing all the measures of process together so that managers can understand the value of the process. The practices give a clear description of the information that is required to start the process, track its progress and verify when it’s completed.  Technology best practices embrace the combination of computer and communications technologies and mechanics that support a process.  The organisational best practices describe deployment and management and include human factors like skills, commitment and motivation.

People best practices can be the most difficult one to implement but they are the most important to get right. A best practice will fail or succeed based on the individuals that are working on the processes

Wednesday, 12 October 2016

Defining performance management best practices – Part 3

Today is our final look at defining performance management best practices.

·         Match the skills and capabilities of the organisation

One of the common mistakes done with best practices is that the new one is implemented without ensuring the right skills in place to fully leverage the practice. The necessary capabilities need to be available or a plan in place to develop or acquire the capabilities is in place. Even the simplest requests can cause significant and extra efforts. It means the practice will fail if the capabilities aren’t available.

·         Be capable of operating effectively in an uncertain and turbulent world

Best practices must be able to function in different economic conditions. Decision making must be made confidently and this requires management practices that work when times are good and bad. The practices have to be able to adapt to fast changing environments.

Tuesday, 11 October 2016

Defining performance management best practices – Part 2

Today we’re continuing to define performance management best practices. 

·         Be proven in practice
A best practice must work and therefore been proven in practice is perhaps one of the most important criteria.  There are plenty of best practice ideas that worked on paper but failed to work in practice.  Therefore, the best practices have to be proven to work successfully as they have a lower risk profile and given the desired results. The proof that the best practice actually works can be demonstrated in operation and in measurement.

·         Exploit proven technologies
It’s important that the best practices exploit proven technologies. There is no technology company that will launch a product without ground breaking, but many of these technologies are proven to be lacking in practice, or taken over soon. Based on best practices on proven technologies, people are confident with them.

·         Ensure an acceptable level of control and risk management
A practice that comes with an unacceptable level of risk isn’t ever going to be a best practice.  The practice has to be controlled and well-managed and at the very least they need to maintain the current level of control. In many cases, they actually increase control and reduce the risk.


Monday, 10 October 2016

Defining performance management best practices - Part 1

A best practice needs to:
  • Be proven
  • Make use of proven technology
  • Be applied to a wide range of organisations
  • Have an effect on a measurable change
  • Match the capabilities of the organisation
  • Be able to operate in uncertainties
  • Have an acceptable level of control and risk management
Make a measurable change in performance
Changes are usually introduced to benefit the business. Unfortunately, not all changes have the desired affect and they do not always translate into a measurable improvement. Best practice means the organisation is able to meet the maximum level of performance to be measured and this is the standard required of all best practices.

Applicable to a broad spectrum of organizations
The only way a best practice can have value is to ensure it is applicable to a broad range of organisations as this is what distinguishes it from a distinctive capability.  A best practice needs to be able to be adopted by multiple types of organisations provided they have the commitment and the resources. It is not necessary for them to be compatible with all types of companies, what works well for automotive organisations might not fit with other types of industries. It should be applied to more than one company and more than one industry. Some best practices in performance management can be applied to all companies. The suitability of a best practice depends on how it matches to the culture, strategy, internal structure, execution capability and the level of maturity of the company. Best practices can be scale driven or industry specific


Saturday, 8 October 2016

Chit Chat: What does eBusiness mean in healthcare?

Ebusiness is part of modern day healthcare and electronic processes have been used in the industry for quite some time. Ehealth is now a commonly used term today as it encompasses all aspects of connectivity for content, commerce and care in healthcare and eBusiness is a subset of eHealth. Ebusiness supports all the processes of a business by electronic means that are used to accomplish these processes.

The eBusiness in healthcare covers all the electronic interactions. The flow of clinical information between providers and individuals is not included in ebuinsess as these are the primary activities in health care. However, the eBusiness processes are the support activities that are interlinked with the primary activities.

eBusiness in healthcare can be defined as the combined electronic processes that are aimed at the exchange of business information between one or more buyers, customers or recipients and the suppliers and providers. It’s an integral part of eHealth and involves the application of the methods of eBusiness in the healthcare industry.

Ecommerce in healthcare is not a term that is commonly used by the healthcare providers, but it is more commonly used by the manufacturers.

Friday, 7 October 2016

Royale International Couriers Ltd Achieves ISO 9001:2008 Certification


Hong Kong, China – 07 Oct 2016 - Global logistics provider and time critical operator Royale International Couriers Ltd has successfully been certified in line with ISO 9001:2008 Quality Management System. Following extensive audits. the certification covers Royale’s Tsuen Wan and Kowloon Bay locations placing Royale in an ever stronger position within the global logistics arena. When assessing risks, companies have to pay greater consideration to the external perspective of customers and other stakeholders; the auditors, BSI, found no deviation from the standard at Royale International.

“This certification goes to show our continued attention to our own internal systems and processes which, in turn, is reflected in our service provision to our customers” says Director Dean Locke.  “This certification underlines our position as a premium global supplier within the marketplace.”

ISO9001:2008 provides a tried and tested framework for taking a systematic approach to managing the organization's processes so that they consistently turn out product that satisfies customers' expectations. ISO 9001 is used in some 176 countries by businesses and organizations large and small, in public and private sectors, by manufacturers and service providers, in all sectors of activity.

For further information about Royale International Group, please visit www.royaleinternational.com

What is performance management? - Part 2

Today we are continuing to look into some of the sub-processes that are involved in performance management.

Management Reporting
Management reporting includes all the reporting such as performance measures, analysis, news, events and any information that is required to make decisions. The types of reports that are included are future forecasts, comparisons to plans, performance measure reporting, analyses that compare actual results with predicted results and so on. The reports can be financial and nonfinancial, using predictive or historical data and be internal and external.

Forecasting
Forecasting is the process that updates, current views of future business that is expected. They can be used to reflect changes and new information. Forecasts are performed periodically and they include various dimensions of performance and they often include external factors such as size of market, sales, expenses and production.

Risk Management
This is the process of identifying, assessing and measuring possible impacts on the performance of the business and different risks that are faced and then creating strategies to manage the risks. Risk management could involve transferring, avoiding or reducing risks. It can also involve finding ways to gain advantages from the risks or accepting the consequences of risks. There are five steps of risk management:

1.    Identifying the risk
2.    Quantification of materiality
3.    Estimating the probability
4.    Agreeing to manage the risk
5.    Developing risk management and mitigation techniques


Thursday, 6 October 2016

What is performance management? - Part 1

Performance management includes all processes. All information and different systems used by managers to create strategies, plans, forecast performance, make decisions, report results and monitor execution.  Today we’re going to look at some of the common sub-processes that are involved in the performance management process.

Strategic Planning
This is the process that involves creating and developing approaches that are to be used to reach a set objective. Strategy requires a defined goal or objective and describes all the approaches that need to be taken by the organisation to reach that goal. Strategic planning often looks at the long term view, which separates it from tactical planning, which involves describing the specifics of the activities that the firm is going to follow. The purpose of the company is defined in strategic planning and it also includes targets that are used to track the process towards the end goal. These are the targets used as the main input for tactical planning.

Tactical Planning
Tactical planning defines the tactics, allocations of resources and the initiatives that are needed to meet the set targets and business objectives and strategies. The planning includes developing tactics and the initiatives at all levels that will sustain and improve business operations. All activities are to be defined and include the impact they have on resources. The tactical planning starts once the strategic planning has been completed by management.

Financial Planning
Financial plans and targets that describe expected results are the focus of financial planning. It includes preparing and consolidation target schedules, developing budgets, timing requirements, guidelines and basic business assumptions, review and analysis and the commitment of the plans by the board and the management.


Wednesday, 5 October 2016

How taxes affect business?

Here are four ways taxes affect businesses in the US:
  • Profits vary due to taxes. The profits of the business will be taxed at the federal level. The purpose of taxes is to reduce the profit for the business and part of that money is owed to the government. The rate of taxation will influence the amount the company charges for services and products if the firm wants to reach a certain amount of profit.
  • The taxes do vary depending on the state and the country. These variations can impact where the business is located. Businesses can choose to move to a more attractive area based on the amount of tax.
  • Taxes affect how the business is structured. Many consider the corporation to be the best tax environment for a business as it allows the business to be taxed as its own entity. A sole proprietor doesn’t cost money to set up but the business owner is the one who is charged and they don’t benefit from liability protection.
  • Businesses need to pay taxes for payroll, unemployment and worker compensation once the company hires employees. The taxes can have an influence on how many employees are taken on or if the company decides not to employ anyone. 

Tuesday, 4 October 2016

Automotive Logistics UK Summit | #ALUK



5-6 October 2016 - Mercedes-Benz World, Brooklands

How UK’s referendum on leaving the European Union involved in the UK automotive logistics market? How should they positioning themselves in an uncertain future?  These will be the central questions at the inaugural Automotive Logistics UK summit, being held on October 5th-6th.

Taking place at Mercedes-Benz World, within the historic Brooklands motor racing circuit in Surrey, this timely event will consider all the key challenges facing inbound supply chains and vehicle exports as the UK conducts its tightrope walk towards an orderly ‘Brexit’.
This unmissable event is expected to attract hundreds of delegates and is being supported by a wide range of industry organisations including Royale International as the Silver Sponsor.

We look forward in meeting all peers, competitors, suppliers and regulators at the Summit.

For more information, please see the conference website