5 Key Skills That Every Procurement Manager Must Have

Anyone who is making it in the procurement universe will tell you that the job is extremely hard but also highly rewarding. Procurement specialists are always working with suppliers on a daily basis and therefore the job would require them to have a high level of confidence and also a high level of intelligence to be able to work their way through the industry.

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5 Business trends to follow in 2017

There are new trends every year that dominate businesses. In order to increase the chances of achieving success, it is important for businesses to adopt the trends. Having a good understanding of these changes will help you progress and thrive in the current market.

 Here are five business trends that are most likely to have the largest effect on your organization:

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Best Business Practices: Marketplace

Running a business is definitely not an easy feat. Often times you’ll have an amazing idea but find yourself stuck, not knowing what your next move should be. Other times, you could have just reached a deadlock. Entering the world of startups is definitely intimidating if you don’t have a clear idea on how to run your business. These days with the trend of market places making its way into the startup scene, it would definitely save you a lot of time if you were already equipped with the right practices to run your business.

Here’s a list of best business practices we have gathered to help you out!

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Should You Get A Mobile App?

Mobile apps have become an almost indispensable part in the way customers and businesses interact, and with over 3 million apps in the Android and Apple app stores, the demand for such apps is tremendous. It has also revolutionized the way businesses operate, making it even more important for businesses to jump onto the mobile app bandwagon to remain competitive.

You probably have thought of creating your own mobile app, but are still undecided on whether you should take this leap. Here are some pros and cons:

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Quick guide on how to claim SPRING Singapore’s Innovation and Capability voucher

Singapore has always been a nurturing ground for small, medium enterprises (SMEs). The government takes substantial measures to support SMEs and ensure that they’re on the right path of productivity growth.

One of the initiatives to promote that is the Innovation and Capability voucher (ICV). Each ICV is valued at $5000 and seeks to encourage SMEs to develop their business capabilities. ICV grant strives to help businesses improve their core operation through consultancy projects in the areas of innovation, productivity, human resource and financial management. Every company is allowed to apply for up to 8 vouchers.

Here’s a quick guide on how you too can benefit from ICV and upgrade your business.

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5 Steps To Catapult Your Online Store into Profitability

Even if you don’t want to admit it, marketing plays a huge role in ensuring a company does well out there in the big bad world of commerce. Marketing does make business happen. If you don’t market your product, how will anyone ever know about it? According to Socialnomics, “marketing was, is, and will always be the engine of trade”. This statement is completely true and we would be fools to not take that seriously.

If you own an online store, you know that it isn’t easy in making sure you always reach the amount of sales that you want to every month. Also, since online businesses are technically new and there is no right or wrong way in handling your business, you need to find out a combination of ways that works best for you. The best recipe needs to be slowly cultivated and put together because every business is different. However, the team at ThunderQuote have come up with 5 steps that we think will catapult your online store and increase its profitability significantly.

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Penny Wise, Pound Foolish – Why You Shouldn’t Pay Your Vendors Late

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Picture Credits : singsaver.com.sg

We all know that running a company isn’t easy. Sometimes you feel the need to pay your vendors later so that you can sort your own finances out at the end of the month. However, it is seemingly becoming regular practice that somehow it has started a negative effect on the economy. Most businessmen decide to stall payments so that they can wait till the end of the month to count their own profits before deciding to pay their vendors and this is just really bad practice. Not just for the vendors but also for the entire ecosystem. Stop thinking about the short term benefits and start looking at the bigger picture. Please consider the damages you will be making to the future of your own company as well as the vendor’s company. In addition to that, also think about how it will affect the economy.

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IT Development: In-House Or Outsource?

Way Signs "Outsourcing - In-House Solutions"

Picture Credits : pcg-services.com

The question posed by this article is one that has plagued many business owners all over the world. How do you decide between hiring an in-house team for your IT development or should you look beyond the walls of your office and look for an outsource team to help you with the development of your IT section? There will be no perfect answer because at the end of the day it all boils down to personal preference.

 

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What Are The Top Services You Need To Start Your Own F&B Business?

starting-a-business

Starting a business is always daunting and extremely scary especially in Singapore. This is because over the years the amount of restaurants and cafes have doubled and almost every concept has been used and it’s hard to create a one of a kind establishment. But do not let this disappoint you because we feel that the foundation of any service is the most important thing. If you set up your company right from the beginning you have a much higher chance of succeeding and taking over the industry sooner or later.

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