Developing a Supply Chain Strategy for Turning Warranty into A Profit Center from A Cost Center

The focus of today’s competitive organizations should be to convert challenges into market differentiators. It is now widely accepted that product warranties are a reflection of their product qualities. However, the term warranty is used effortlessly, not so much as its process of reviewing, processing, and tracking the warranty process is.

The entire process calls for attention to minute details, which are not possible with excel spreadsheets or local, on-premise software.

Warranty is indeed a cost centre for cost accountants aiming to perform activity-based costing. However, with a proper supply-chain strategy mix, they same could very well be converted to a profit centre.

The main idea is to manage product quality for low warranty claims and lubricating the total warranty process in itself. Advanced warranty software today has superb analytics, which can capture the product parameters in question and tally them with benchmark parameters. It helps to understand the reason behind the deviation.

With the versatile nature of the software, the reason for deviation may be fed as a policy update in the system, so that the same problem does not occur again. Smartly laid data-capture points in the supply chain will lead to efficient retrieval of operational snapshots and clearly show the loop holes in the system.

Forward-looking organizations are interested in technology which can automatically process claims and take required corrective actions to detect and prevent fraudulent claims. They are in pursuit of integrating warranty management solutions with their supply-chain systems to harness the power of live, authentic data.

Warranty administration tools are known for business-critical incentives in terms of effective management of contracts, hassle-free claims processing, and better customer delight. In the process, the business can gain maximum market penetration.

It has been seen that organizations adopting and running a formal warranty management program have better market outreach in terms of customer experience. Quick and legitimate claim processing is something that people like to talk about in social circles.

Every product, which comes back as a warranty claim, is a reflection of a failed manufacturing process, with which great cost is associated.

If the proper reason behind a failure can be arrested at source, then it can be prevented from recurring. Good warranty management software aims at capturing deviation at a very nascent stage and provides early warning for supply chain operators.

To reap maximum benefit from warranty management software, it is imperative to integrate with the multi-dimensional supply chain landscape like marketing, production, cost control, etc. This will prevent fraudulent claims, which are a menace in today’s big organizations. Warranty Management Solution software can be linked to departmental KPIs (key performance indicators). That will help in improving product maturity.

A good predictive analysis module is vital. It points out emerging crises, which can be prevented, and thus prevent revenue loss in terms of a failed product. Any kind of strategy mix is possible, if organizations are laden with appropriate data.

Advanced analytics incorporated in warranty software clearly show the past and future patters of product failures, so that appropriate actions can be taken. It is better to stay engaged in all stages of the product lifecycle, which would be beneficial in practicing best manufacturing processes. A better process, in terms of manufacturing, storing, and transportation will lead to fewer field returns, in other words, fewer warranty claims.

responsive web-design

Benefits of Responsive Web Designing For the Business development

Responsive Web Designing For Businesses

Nowadays, the Responsive Web Design has an appealing demand and the reason behind it is the different types of computing devices being used. There are many customers or clients, who browse the internet via smartphone and tablets. Both desktops and laptops are no longer considered as the just one main device for online use. Not only for just online browsing but buying or selling stuff with no trouble, performed through the smartphone or tablets. In these circumstances, websites should convert into a responsive design in order to set them free from some well-known drawback.

Why Choose Responsive Web Design?

For example, If you are running a corporate website, then there may be few detailed reasons for you to design as responsive website. Such web design & web layouts approach with different advantages to managing with the modern world buyers. In order to raise the profitability, a responsive web design must be preferred. There are some key benefits of responsive website design:

Avoid horizontal scrolling – The responsive web design layout always neglects the horizontal scrolling option in a way that a user who has either Smartphone or tablet may easily navigate the website. For those who have e-commerce shopping websites, this quality will predominantly guide to increase their profitability from websites.

The responsive web design is shaped to be user-friendly for all kinds of devices. There is no need to keep a split website for all mobile users. Therefore, lesser confusions along with lesser maintenance tasks – big profitability!. Responsive web design is usually integrated with a CSS media query. On this basis, website owners have the advantage of choosing any CMS platforms for the content management system.

With the Responsive web design, you get an eye-catching interface for your corporate website. This is one among the many good features of this website design.

The responsive web design features the following utilities or benefits:

Context-aware picture Placements: Always use fluid images, which can look bigger or little, depending upon the platform from which users have accessed. This is one of the significant characteristics of a responsive website. With proper placements and seamless incorporation of these responsive images must be featured.

Flexible Fluid Grid: Not only the pictures but all website can be designed over fluid grids, as a result, the web layout can also indicate responsive properties. Depending upon the user platform, this responsive website layout must easily get resized scrupulously.

Amalgamation of Media Queries: Don’t forget to feature the media queries incorporation with responsive websites. These queries help to collect data about website page views so that the website must reshape according to user devices.

Cost Effective Responsive Web Design

The Responsive web development & design is a combo of design and technology. On one hand, it requires in-depth technical insights and on the other hand, it requires imagination with an innovative approach. Responsive website design is a trending feature these days and in most of the cases, it is high-priced.

India’s Black Money Scandal: Nepal Bans India’s New 500 And 2,000 Rupee Bank Notes

India’s black money scandal..

Truth Troubles

(THIS ARTICLE IS COURTESY OF THE HINDUSTAN TIMES NEWS PAPER)

Nepal bans new Indian Rs 500 and Rs 2,000 notes, waits for RBI notification

  • HT Correspondent, Hindustan Times, Kathmandu

|

  • Updated: Nov 24, 2016 20:29 IST
Indian currency is widely accepted in Nepal, where many people have been facing problems in exchanging the old Rs 500 and Rs 1,000 notes. (Karun Sharma/ HT Photo)

At a time when Nepalese citizens are facing problems in exchanging withdrawn Indian notes of Rs 500 and Rs 1,000 denomination, the country’s central bank on Thursday banned the exchange of India’s new Rs 500 and Rs 2,000 currency notes.

The Nepal Rastra Bank said the new Indian notes cannot be exchanged until the Reserve Bank of India (RBI) issues a new notification under the Foreign Exchange Management Act. Such a notification allows citizens of foreign countries to hold a certain amount in Indian currency, officials said.

View original post 457 more words

US counting votes, India counting notes 😂😂

‘US counting votes, India counting notes’, love the title. A historic day…..for both US and India indeed.

Mithai Mumblezz

Its an important day for US. Within few hours they are gonna get a new President. The whole world is pretty anxious to know the results, especially since the choices were pretty interesting this time 😉

But when media had already prepared and rehersed all the bytes and footage, something unexpected happened.

Every 500 and 1000 rupees notes got banned in India.

Declared tonight just after all the banks closed. And all banks closed to public transactions tomorrow as well.

Right now, it doesn’t matter how rich or poor you are.

Tonight, its a frenzy in every Indian house, searching for change.

I’ve been getting some pretty crazy WhatsApp messages every minute.

Its actually a moment of crisis. But a HILARIOUS one 😝

All useless!!😛😛

Till its exchanged from Reserve Bank of India within 50 days!

It was apparently done to stop fake notes and black money.
Some of the…

View original post 110 more words

Dubai Business

Want to establish your business? 7 ways to do it successfully

Startups require a lot of research and planning. It takes a lot of guts and hard work to become a successful entrepreneur. Don’t feel amazed after watching the success of tycoons running multinational companies. They only achieved this recognition and status with their efforts, timed decisions and identification of their weaknesses and strengths. Perhaps you are at the foundational stage of settling down your firm, you may have spent a significant time to find not only the right niche but also to understand the ins and outs of industry along with handsome capital investments to accomplish the infrastructure. It’s very natural to think about progress once a business start generating a decent income.

Regardless of the industry, you belong, like all entrepreneurs you must have a strong desire to grow your business with a double-digit growth in income. You can always achieve the expected level of success after following these simple rules.

 Show consistency

 Consistency and uninterrupted efforts are the keys to success. You must keep doing certain commercial activities regularly to emerge as a successful brand in future. You should follow this for a long-term to achieve unmatched success. Positive habits will ensure profits.

 Schedule tasks properly

 Running a company, whether being huge or small needs good organization and efficient scheduling of tasks. The best way to work methodologically is to make a list of daily and monthly tasks. Identify the urgency and prioritize tasks to avoid facing unnecessary delays. Maintaining the job list will always ensure that you are not forgetting anything necessary for the survival.   

 Maintain detail financial records

Whether you are facing a temporary tough time due to economic conditions or your setup is flourishing and giving you good profits, maintain a complete financial record. Note down all the purchases you made and payments you may receive on serving your customers. Financial records empower you not only to estimate the net worth of your company but also facilitate you to transform a business.

 Analyze your competitors

 Never fear your competitors because competition always produces good results. Instead of getting afraid from your competitors, analyses their actions that enable them to maintain and grow their position in industry. Compare your actions with the findings; you will identify the missing component that is limiting your success.

 Realize the importance of risk to enjoy rewards

 Unless you take risks, you will not be able to enjoy rewards like brand recognition and profits. If you are feeling unconfident in taking some bold step at any stage of business, ask yourself a question as to what will be the worst thing that can happen. If you can answer this question, then you can plan the exit strategy. Calculate the risks. It’s not bad to take risks if you can handle the situation.

 Remain creative

 No matter how successful you are running a setup, you should not put a full stop on finding the ways to make improvements. Don’t stop searching and learning new market trends. Keep your mind open for new ideas to diversify your products and services. The best way to stay up to date is to take consider customer feedback important to understand their expectations and problems they are still facing.

Take it as a full-time job

 Perhaps you have started it as part time small enterprise, if you want to pursue success and profits, you must spend more time in understanding processes. Especially during the initial stages, you must put all your efforts, time and money to speed up the process. Although your business doesn’t start making money, you should not loose attention and remain focus on carrying out activities to grow your company.

 

Summary: Whether you are native running company setup in Dubai or you are an overseas investor in the city, don’t lose your patience and keep struggling for business growth.

 

 

US Currency Change Coming

US currency change

La Paz Group

We’ve reported on the positive alterations of currency before, when it was the British five-pound note that was becoming plastic instead of plant fiber. That was good news in terms of ecological footprint, because the plastic notes should live longer and thereby save materials in the long run. In the case of the US change with the five-, ten-, and twenty-dollar bills, the impact is less on the environment and more in the social arena: women would feature on paper currency for the first time in modern history. From the New York Times:

WASHINGTON — Treasury Secretary Jacob J. Lew on Wednesday announced the most sweeping and historically symbolic makeover of American currency in a century, proposing to replace the slaveholding Andrew Jackson on the $20 bill with Harriet Tubman, the former slave and abolitionist, and to add women and civil rights leaders to the $5 and $10 notes.

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Start-up India

On 16th January 2016, Start-up India Movement was launched by Honourable Prime Minster Narendra Modi in Delhi, India.


According to Prime Minster Narendra Modi, India is the youngest Start-up nation in the world with energetic and enthusiastic entrepreneurs. He also stated that he sees Startups, technology and innovation as exciting and effective instruments for India’s transformation.
Start-up India initiative aims to celebrate the country’s entrepreneurial spirit and create a strong ecosystem for fostering innovation and Start-ups in India.
What is a Start-up?

Start-up means an entity, incorporated or registered in India not prior to five years, with annual turnover not exceeding INR 25 crore in any preceding financial year, working towards innovation, development, deployment or commercialization of new products, processes or services driven by technology or intellectual property.

  • Provided that such entity is not formed by splitting up, or reconstruction, of a business already in existence.
  • Provided also that an entity shall cease to be a Start-up if its turnover for the previous financial years has exceeded INR 25 crore or it has completed 5 years from the date of incorporation/ registration.
  • Provided further that a Start-up shall be eligible for tax benefits only after it has obtained certification from the Inter-Ministerial Board, setup for such purpose.
(Start-up defined for the purpose of Government Schemes)
 
Start-up India Action Plan (13 Key points)
 
Ø  No capital Gains Tax on Personal Property sold to invest in Start-ups
Ø  No Income Tax on Profits to Start-ups for first 3 years
Ø  Self-certification Compliance for Start-ups
Ø  No inspections for first 3 years of a Start-up
Ø  Start-up Hub will be a single point source for information and mentoring
Ø  Simplifying Patent Regime and IPR
Ø  80% Rebate on filing a Patent Application
Ø  Mobile oriented application form for Start-ups
Ø  Exit policy to be introduced for Start-ups
Ø  Will bring in New Policies to help Women Entrepreneurs
Ø  Launch of Atal Innovation Mission (AIM) with self-employment and Talent Utilization (SETU) program- serves as a platform for promotion of world-class Innovation Hubs, Grand challenges. Start-up businesses and other self-employment activities.
Ø  Promoting Start-ups in the Biotechnology Sector- to foster and facilitate bio-entrepreneurship.
Ø  Launching of Innovation Focused Programs for students – to foster a culture of innovation in the field of Science and Technology amongst students.
The following is the video of Prime Minister Narendra Modi #StartupIndia -Action Plan on 16th January 2016.
Here is a glimpse into what women entrepreneurs on the panel shared about their start-ups.

Shaili Chopra, Founder, SheThePeople.TV, says the number of women participating in the start-up ecosystem is growing rapidly.
“There has been 50 per cent jump in the women participating in the start-up ecosystem in the last two years”, she said.

Anisha Singh, founder of coupon and discount marketing firm, Mydala, said she has seen a change in the environment for women entrepreneurs from 2009, when she started. In 2009, there were few women entrepreneurs and she had to challenge the investors’ imagination because she started raising funds when she was pregnant. According to the globally statistic, women-led businesses don’t have adequate funding and they face several challenges but the environment is changing and people are aware now. Though, a lot more women entrepreneurs have come forward to prove their mettle, things need to change faster.

Narrating her experience, Sairee Chahal, founder of women-only job portal, Sheroes, said it took her team a while to say that that are not an NGO and they are not going to work for free. They had to be told their financiers that theirs was a business model to convince them.

Shanti Mohan, founder of fund raising platform, LetsVenture, said she has never heard such questions as a start-up founder. As entrepreneurs, women should not think that they are under-powered. Now there are women funds too and they could leverage those.

With all of the above, hope more people especially the young be inspired for a Start-up.






References: 

News sources- Indian Express, Firstpost, India Today, Times of India, NDTV, CNBC

Image courtesy- Indian Express
Action Plan

Launching of Start-up India Movement