Repeat customers contribute to long-term profitability. To keep customers coming back you need to employ the right pricing strategy. What is the right strategy? Here is what to consider when setting prices: Focus on value pricing Value pricing is not the same as discount pricing. Rather, value pricing is pricing a product or a service
Source: Geek and Poke Strategy is not execution Strategy and execution are fundamentally different. Strategy is about making choices. Execution is about getting down and dirty so that the choices made can produce results. Here’s how you can get from excellent strategy to strong execution. Strategy is the pursuit of excellence. It is more than
Most teams are able to fairly easily decipher what needs to be done. However, when it comes to the how, new or weak teams fall flat. Here is how you can optimize your team for success. Define roles Clearly define roles and make sure every team member understands not only their role, but the roles
Look across business, sports, entertainment, and the military, and identify the top performers. Next, take a step back at look at the characteristics of these individuals. What you will find is that there are at least three elements that they all have. They know how to maximize through self-knowledge. Top performers have intimate self-knowledge. They know themselves
Losing an employee is costly — very costly. Yet, many organizations don’t know how to ensure that its human resource assets don’t just walk away. The US Department of Labor Bureau of Labor Statistics reports that more than 2 million people voluntarily leave their jobs each month. The Society of Human Resources Management has found that the cost of
Want to have a better-run business? Define clear metrics and use them as a launch pad to move your organization forward. Metrics enable you to operate more effectively and efficiently because they provide you with valuable information on how you can drive improvement and how you can apply resources (people, time, money) to the activities
This article was previously published on EBN. Looking for a way to make your supply chain more efficient? You might want to consider reusable packaging. Reusable packaging includes pallets, racks, bulk containers, bins, dollies, handheld containers, and dunnage typically made from durable materials such as plastic, wood, and metal. Traditional packaging solutions are designed for
This post originally appeared on EBN. For many customers, both current and prospective, you are your packaging. Take the time to do it right. I recently read a great piece by Zach Williams, founder and creative director of Venveo, on the role of packaging from a marketing perspective. Williams puts forth the idea that packaging is a
This post was originally published on EBN. Packaging optimization is critical to supply chain optimization. To catch big advantages, change your mindset and make packaging a forethought rather than an afterthought. In a Packaging World article, Elisha Tropper, president and CEO of Cambridge Seals Security (CSS), describes how packaging is typically thought of by manufacturers: An afterthought…
This post was originally published on EBN. Summer is over, fall has arrived, and winter is right around the corner. As the days grow shorter and colder, don’t let inertia take over. Instead, put your packaging on a diet. Here are three reasons why a packaging slim down will improve the health of your company’s supply
Career Builder identified Supply Chain Manager as a Top Growth Job for 2013. Why did supply chain manager make the short list (just 18 jobs made the list)? Supply chain manager has experienced an 8 percent job growth since 2010 and there is just one active candidate for every five posted jobs. Colleges and universities have
A 2013 study conducted by Deloitte found that 64 percent of the global executives surveyed reported they had a risk management program in place that is specific to the supply chain. That being said, 45 percent of the respondents said their programs were somewhat effective or not effective at all. Respondents — especially those in
