How to choose the Corporate Advisory services?

Corporate Advisors are those professional consultants that provide their clients with consultancy for the governance of the corporate identity. These Corporate Advisory Firms helps their clients in a wide array, that ranges from Financial Advice to Risk Management services. If you are having a corporate company in India then these advisory firms can be of great use to you. 

Let's have a look at the services provided by them.

1. Risk Advisory Services 

2. Mergers and Acquisitions 

3. Strategic Advice 

4. Financial Restructuring 

5. Debt Management 

6. And on all of the Financial Governance matters.

Choosing a corporate advisory service is not as easy as it sounds because all of your financial strategies are biased with the consultancy that these Financial Advisors provides to you. If you keep some of these below-mentioned points in mind then it will not serve as a daunting task to you.

1. Experience: Experience always matters while choosing Corporate Advisory services. Always choose the one with a history of good records. You should check whether the Corporate Advisory firm has a relevant experience? 

2. Credibility: It is very important that these advisors are credible, experienced and well qualified. Always read the reviews about them by their clients while opting for the one for yourself. 

3. Confidentiality: These Corporate Advisory firms need to preserve the confidentiality of their clients at every moment of time. All of the processes need to be conducted confidentially. So always sign an agreement of Confidentiality. 

For more on Corporate or Risk advisory services, call us at +91-11- 66797769 or e-mail at info@boundlessindia.com or visit us at http://www.boundlessindia.com.

Accounts Payable Processing: An understanding

Accounts payable, also known as trade payables or may be simply as payable are basically the payment due to one’s suppliers. This is a book item that features under liabilities in the Balance Sheet. One needs to keep a track of these accounts payables and at the time of accounts payable processing, carefully update the accounts and clear the amount from the payables. Since it is sometimes not conducive to maintain records of the deals done on credit or on delayed payments, these are entered in account books as payables while in the lender’s books as account receivables or receivables in their assets. The same are carried forward to the next year books of accounts until these are settled.

Accounts Payable Outsourcing is an arrangement when you hire professional services from experts to take care of your accounts payable entirely. This includes, document maintenance, account payable processing which includes invoices management, approval of invoices, resolution of issues and fallacies, disbursement of the payments etc. All this is very conveniently done by professional organizations and is a big industry today.

If you ever want to outsource accounts payable services you can contact one of these professional organizations and just sit back and relax for a convenient handling of the payments on your behalf. There is no harm in getting things managed from outside which actually has proved to be beneficial on account of cost saving, accuracy and smooth handling. One can easily rely on these companies and be free of the hassle of maintaining hefty records of payables.

For more on accounts payable, call us at +91-11- 66797769 or e-mail at info@boundlessindia.com or visit us at http://www.boundlessindia.com.

Implementing ISO 14001 & ISO 27001

What is ISO 14001?

It is the international set practice or standard about maintaining your business operations with an efficient use of your resources. In simpler terms, the practice is set to ensure that there is least wastage of resources and there are more economies of scale generated for your profitable and viable operations. The ISO 14001 implementation does not require any much support other than a checklist which can be obtained from third party accreditors. Once this is done, you may apply it in your organization at appropriate checkpoints and reap the benefits.

There is more to efficient usage than what meets the eye. Lesser wastage would lead to competitive advantages which would mean your business would be able to sustain for longer, there is more resistance to competition and there is more to trust built in the stakeholders.

What is ISO 27001?

ISO 27001 is the International standard set for better management of information; it deals mainly with information security. It is imperative today for organizations to have all their proprietary information safeguarded to avoid any kind of mishap like data theft to happen.

It is again not obligatory to get ISO 27001 certification prior to implementation. However there is no hazard in getting your business attuned to best practices which have proven results.

Both these certifications are suited to all organizations irrespective of their operational size. There is a global acceptance to this standard which is also a kind of reassurance to their clients that the information has been properly secured and safeguarded.

Much need implementation support on these certifications can be availed through specialized consultancies.

For more on inventory management, call us at +91-11-66797769 or e-mail at info@boundlessindia.comor visit us at http://www.boundlessindia.com.

Best Practices of Inventory Management

Boundless helps you in inventory management and have collated what is called best practices in it.

With these, you can grow your business by leaps and bounds and augment gains.

1. Having an intact inventory control system is best. Two commonly used systems are periodic and perpetual.  Periodic are the ones, which refurbishes ledger periodically i.e. weekly, monthly and quarterly. Perpetual systems are the ones, which updates inventory after each purchase, sale and adjustment. The more frequently it is updated, the easier it is for a business to plan.

2. Have Inventory categorisation. As 80-20 rule applies majorly to inventory, it is better to set priorities straight. (80% sales come from 20% of the products).

3. Have a proper inventory adjuring system. You should know what you need, how much you need and when you need it. This saves one from unwanted circumstances such as inflated inventory costs and longer lead times.

4. Imbrute the inventory system. This standardises the process, saves time and money, increases accuracy and simplifies documentation.

5. Forecast demand as sales may vary due to vicissitude in trends, seasons etc. Thus, demand forecast can help better plan inventory requirements to maintain levels.

6. Perform physical inventory counts. A rubric to control inventory and attune it to the amounts in periodic or perpetual system on the books, physical inventory is normally done once a year normally at the end of the fiscal year. Larger businesses and those preferring periodic or seasonal inventory counts, do it more frequently.

7. Make acclimation as required for goods unsold, obsolete, stolen, damaged or for goods whose market value is lower than the cost of the good.

For more on inventory, call us at +91-11-66797769 or e-mail at info@boundlessindia.com or visit us at http://www.boundlessindia.com.

How to aggrandise supply chain management?

Boundless helps your supply chain management through process convalescent by enhancing communication, refining information, which aids in decision-making and efficient transaction processing. More methods are listed as follows for you to attain effective business.

The ways to enhance management of supply chain are:

1. Communicating with customer and vendors electronically can help with standardising, ordering, receiving and invoicing processes thereby eliminating manual errors. The electronic formats can be interchanged between habitués and vendors after their sign-off.

2. Vendor -managed inventories (VMI) is the need of the hour. In vendor-managed inventories, all incubus of the customer's stock level lies with the vendor. For a businesses, such offering is a differentiator between various vendors. VMI further aids in maintaining customer relationships.

3.  In an effort to guesstimate vendor performance, enterprises need to capture data and need to have some performance metrics. Some of the metrics include lead times, over and short shipments, quality issues, in- time delivery, invoice, order accuracy etc.

4. Boundless offers content updation of portals and for supply chain management to be effective, vendor and customer portals need to be updated as they provide good information. Such portals can provide information on orders open, shipment dates etc. Request for action can be taken care of. Self-services such as order placement and payment transactions too can be facilitated through them. They also provide with delivery dates which further aids in providing production schedules.

5. Pay on receipts systems should be there too which takes information from purchase orders primarily.

Stay tuned to this space for more on supply chain management as we will continue to  provide you with such useful techniques. Boundless offers effective management offerings. And for more on supply chain management, call us at +91-11-66797769 or e-mail at info@boundlessindia.com or visit us at http://www.boundlessindia.com.

Issues In Warehousing

There are certain issues that might affect warehousing big time. Some of them are listed as follows:

Market and product stability

The long-term market growth and the product's stability will influence the size of the warehouse as well as its location. This will also affect the prospective space / location of the warehouse. These considerations can also affect the kind of warehouses and the technology, which is to be used.

Kinds of materials to be stored / handled

Materials can be raw materials, original equipment manufacturer auto spare parts, packaging materials and finished goods. The units stored can vary and be such as carton boxes, containers for liquid boxes, drums, sacks and loads. In case of perishables, special requirements can also be met for temperature and humidity. All this will influence the kind of warehouses and the technology level used.

Warehouse facility: kind, size and location

A warehouse's kind, size and location will also depend on the position of the warehouse in a supply chain network. The inventory level, customer base, the requirement for inventory optimization and overall customer levels should also be considered when deciding the kind, size and location of the warehouse.

Choice of unit load

The selection of unit load such as tote bins, pallets, rolls etc. will depend on the kind of materials stored in the warehouse. Inside a warehouse, it can influence the kinds of storage systems and the options of equipment handling. In terms of transport, it can affect its operations in terms of vehicle loading and unloading and vehicle utilisation.

Boundless helps you with the warehouse management process. It studies and then proposes alternate improvements, so that you never land in trouble. The issues that affect warehousing such as listed above are taken care of by us. For more on warehousing, call us at +91-11-66797769 or e-mail at info@boundlessindia.com or visit us at http://www.boundlessindia.com.

Objectives of Inventory Management

Through inventory management, the following objectives are met which are related to investment cost and service level. 
• The control process should be designed to premeditate policies in quantitative parameters so that consistency in operation can be achieved.

• Give decision rules in terms of quantitativeness that ushers in inventory control response.

• Adopt the simplest mathematical methods to make sure that daily calculations are performed. 

• Provide unpredented reporting for non-routine situations accurately.

• Provide appropriate levels of information to challenge and to replace system decisions. 

Boundless helps you effectuate all the above objectives accurately. 

The four basic components of inventory management, which Boundless has identified basis its experience, are as follows:

• Replenishment Stock- Determined by the ordering frequency and the quantity ordered, this is a stock resulting from policy ordering.

• Safety Stock - This kind of stock is stored for being perseverent with the demand / supply uncertainty.

• Anticipation Stock - Stock procured in advance of requirement.

• Movement Stock - This kind of stock can be dis jointly identified and is the kind which is in infiltration between suppliers and the customers. 

Boundless sees two main factors when it comes to inventory management:

• Tracking of quantity of stock in hand - This kind of monitoring ensures that there are sufficient products to meet the customer's requirements. The quantity is measured by stocktaking method on a regular basis. 

• Tracking of product's quality - This kind of monitoring guarantees, that the available products in stock are of high quality. The quality is measured by regular visual inspection of the stock and by ensuring that stores are kept in good order. 

If you are one of those ensembles that maintains inventory then Boundless helps you keep up with the above two major factors in inventory management. For more on inventory, call us at +91-11-66797769 or e-mail at info@boundlessindia.com or visit us at http://www.boundlessindia.com.