Massive improvements in decision making & operation
performance easily within reach of your business
In our presentation ("Financial Reporting: Past, Present and Future") delivered
in late November 2007 at the CMA Connections Conference, we discussed the power
and evolution of Business Intelligence (BI) tools. Those of you that joined us saw
the dramatic differences in the management decision making process that is possible
when utilizing world class Business Intelligence tools. For those that did not attend,
click
here to watch a video we prepared to highlight the improvements that great
BI tools bring to the decision making process.
In this article, Mereidith Levinson discusses how these same Business Intelligence
tools are now being utilized, not just in the managers offices, but are being extended
throughout the organization to improve all business processes - resulting in massive
improvements. To do this, management must clearly understand all aspects of their
business processes, utilize the right tools and train the BI tool user in both the
tools & the processes.
Learn more...
Quick Links...
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Dear Subscriber,
Welcome to "In Black & White," your management update from F.H. Black & Company.
"In Black & White" is a collection of relevant articles reflecting new insight and
new ideas for business management on topics critical to your own success. Should
these articles generate questions or stimulate interest in implementing any of the
ideas presented, please feel free to contact us at your convenience and our experts
will be pleased to help.
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Management Excellence -
Submit your answer and win!
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This month we introduce a new section to our newsletter - Management Excellence.
Every month we will explore a new concept/topic and discuss its importance in the
success of your business. We will kick off each topic with a skill testing question.
The following month we'll summarize the responses, and examine in detail the topic
and its effect on your growing, profitable business.
This Month - Promises, Promises. The Scenario: Your sales manager
comes to you and suggests discounting a product 10% for the next month. She assures
you that the resulting increased sales volumes will more than make up for the decreased
gross revenue. The Facts: Last month you sold $10,000 worth of the product
at $100 each with a 25% gross margin. The sales manager suggests a $90 selling price
for the next month. The Question: What percentage increase in unit sales
will be required to generate the same gross margin dollars for the month?
The Prize: Email your answers to
management_excellence@fhblack.com. All correct respondents will be entered
into a draw for a copy of: Good to Great: Why Some Companies Make the Leap...and
Others Don't (Hardcover) by Jim Collins. In this fascinating book Collins
and his team of researchers began their quest by sorting through a list of 1,435
companies, looking for those that made substantial improvements in their performance
over time. They finally settled on 11--including Fannie Mae, Gillette, Walgreens,
and Wells Fargo--and discovered common traits that challenged many of the conventional
notions of corporate success.
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Fee-based services in wholesale
distribution
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For years, wholesale distributors (WD's) have fought an eternal battle with squeezed
margins through pursuing efficiency in all aspects of operations. Today, we are
seeing more and more WD's fight this battle in a new way... by increasing revenues
and margins using fee-based services. A 'hot topic' in the wholesale distribution
world, fee-based services allow creative WD's to provide value-added, profit-generating
services to their customer base. Learn what strategic guidelines need to be followed
to successfully implement fee-based services with your customers.
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The new first class
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Travel a lot? How often have you been delayed by your airline? Had your flight cancelled?
Perhaps you've been crammed into the back like cattle? Maybe you've had the pleasure
of standing in a line for security clearance for hours? Sighed deeply after realizing
that you needed 3 or 4 connections to get to your destination?
One of our clients, Fast Air Executive Aviation, has the solution. Where ever, when
ever, Fast Air solves these problems for their clients. Fast Air deals with all
these hassles and their passengers are left to concentrate on what matters most
to them, ensuring they arrive fresh and relaxed at their destination!
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8 Order Picking Secrets
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The warehouse and its efficiencies are critical to WD success. One often-neglected
area with potential for significant improvement is the picking function. Many WD's
still pick inventory for customer orders in the same way they did when they first
opened their doors. We find that with a few simple changes, tremendous gains in
efficiency can be achieved in the picking process, resulting in lower costs and
increased service levels.
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