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Management

Warehouse Management: What is it and How Can You Benefit From it?

Last Updated on April 25, 2022 By Denis Woods 1 Comment

The primordial goal of every warehouse management endeavor is to make inventory management and movement seamless. Whether it involves packing, picking, receiving, or shipping, warehouse management takes care of all these operational processes.

The management of a warehouse facility’s day-to-day operations can be challenging to track, most especially if you have plenty of products on pallet racks or shelves. An efficient warehouse inventory system aids in bridging the gap between the warehouse facility and management. In the process, it allows increased visibility among the various business segments.

Warehousing Landscape

In the report released by Oxford Economics, smaller companies put a premium on investing in business management and business analytics software. Working toward operational excellence is not an aspiration limited to MNCs. By leveraging on breakthrough technology, even SMEs can access tools that give prominent corporations a competitive advantage.

Plus, these tools are available at very affordable prices.

In the past, owners of small businesses used to think that warehouse management systems are only necessary when the warehouse is no longer manageable. However, stable and reliable operations and storage strategies are essential even for small businesses. These tools will not only help you cut the expenses, but they can also help you identify the best pallet rack systems you need to set up. Eventually, all these will lead to scaling your business further.

If you do not want your warehouse to end up as the bottleneck for your business, understand inventory control’s importance and invest in a warehouse management app.

Be an early starter

There are thousands of small-sized businesses that have already gone through this process. They suffered the repercussions of not having a proper warehouse management tool. They also suffered losses due to insufficient storage systems. And all these losses led them to the path of warehouse management.

So, do not wait before your business incurs losses. Be an early starter and begin implementing a warehouse management system as soon as possible. Through this, you can scale your business while saving yourself from tedious admin tasks.

Complicated tasks force companies to gravitate toward centralizing knowledge on a single team member. If you have a dedicated warehouse inventory manager, your operations may have been smooth so far. Then again, if you combine the efficiency of your warehouse manager with a robust warehouse management system, you can systematize all your processes. Along the way, you can also get rid of unnecessary risks.

Increased complexity in logistics breeds challenges

Since SMEs are going operational, with a 35% rise in the percentage of SMEs doing business in more than six countries, it is essential to keep up with the demands. And as the business grows geographically, it is almost sure that the logistics are also bound for complexity.

To optimize your supply chain, you might encounter challenges along the way. These challenges may include an increase in fulfillment costs and the demands of your international customers. So, how do you balance all these?

In this case, you have to make sure that stock level visibility is practiced at all levels in your warehouse. You need to access data and information in real-time for you to come up with an informed business decision.

In terms of optimizing your inventory control strategies, you need to have the right data and intelligence on sales and purchasing information. Through this, you can strategically plan and observe an efficient stock transfer to different locations. Also, you can make the most out of your warehouse inventory.

Managing your warehouse does not only mean overseeing your inventory and processes well. Instead, it also means you have to streamline all the processes involved in your supply chain. And this includes making sure that everything is seamless from production to delivery. To do this, you have to invest in a warehouse management system that segregates your inventory, safely stores it, efficiently facilitates its transfer from the factory to the customer, and ensures that your business is running well.

These may be challenging tasks to perfect, but once done correctly, you will never worry about inventory and logistics ever again.

Denis Woods

Danis Woods in Businessman, investment banker and stock exchange traders. On the same time he loves writing financial blogs to shed lights on different aspects that new and existing businessman are not aware of.

Filed Under: Management

The Primary 4 Functions of Management – Planning, Organizing

Last Updated on July 30, 2021 By Lisa C. Townes Leave a Comment

Management sciences have proven their importance in every part of life no matter who you are, a worker at some organization or owner of the organization you must have good knowledge about management in order to be successful. Because whoever you are managing is always a part of your job. It is also one of the main Characteristics of Entrepreneurs.

Management is known as a process involving the responsibility of economical and effective planning and regulation of the operation of an enterprise to achieve its long term and short term goals using various strategies…

This process of management contains various activities and elements, these activities are common to each and every manager irrespective of the status and level.

Management Definitions By Different Experts

There are four functions of management i.e. planning, organizing, actuating, and controlling.

George and Jerry

To manage is to forecast and plan, to organize, to command, and to control.

Henry Fayol

Its POSDCORB” where P stands for Planning, O for Organizing, S for Staffing, D for Directing, Co for Co-ordination, R for reporting, and B for budgeting.

Luther Gallic

Management is an activity to reach certain goals by efforts of Other’s

R Terry

Management is a process that requires the direction and guidance of a group of people to acquire organizational goals

Ricky W Griffin

Management is any task involving achieving goals with the help of four functions PLANNING, ORGANISING, LEADING & CONTROLLING

Widely Used

4 Functions of Management

4 functions of management

1st Function of Management – Planning

If you are up to any task to accomplish your aims; building a plan is the first basic step. Without any plan, you are going nowhere. Excellent planning skills are the first ultimate need for being a good manager.

Now if you are a manage an organization first thing that you are going to do is building a plan, for that, you should have the skills for eg which is your good employee at doing which specific task.

How and what amount of supplementary, staff, and money are you going to use to attain your goals. Looking at your needs and availabilities you make a plan and then run this organization as per your plan.

Example

Alice the manager of a Mexican restaurant is working on how to make her restaurant successful she will hire the exact amount of staff that will be needed according to the area where she knows how many customers the restaurant will have and how much supplementary will be needed so that no money & food goes to waste.

She goes to use different advertising media. Alice plans an event to provide food at cheap prices so that customers are attracted and with time they develop a good taste of Mexican food which helps the restaurant to run successfully in the new town.

2nd Function of Management – Organizing

Organizing in any field, Organization or institution is another main function of management. This field requires a manager who has excellent skills in organizing his staff, assigning employee duties, the provided extras, and resources.

Example

If the manager of an organization doesn’t know how many people he needs to staff for a particular task to be done he either hires less which makes the process of achieving goals slow or not being accomplished OR he hires more than necessary hence he wastes a huge amount of money.

If the manager in any restaurant doesn’t know what amount of groceries he needs according to how many customers he has per day. He will either buy too many groceries and waste both money and food Or buy less which will automatically result in a failure to satisfy customers.

3rd Function of Management Leading

You are on a task to manage a group of people to make them work and accomplish the goals as per your need. Money is not going to be the only required fuel.

The employees are the one who works for a person who pays them in return for tasks being completed. But now, here you are not making robots work as per instructions, you are using human resources for which your employees need the motivation to work.

A great deal for you, give you an outstanding result and make your organization succeed with their help by producing high-quality work.

For that, you need to be a great Leader. You are going to give motivation to your employees by providing them with a good environment & conditions to work more effectively, giving them good supervision, providing facilities i.e. health and housing facilities.

Gain confidence in them. So that, they don’t follow you because you pay them but they follow you voluntarily because they believe in you as the leader.

This is done by being a successful person who always makes the right decision, knows the pros and cons, and how to keep away from failures.

4th Function of Management – Controlling

This part of management deals with monitoring and evaluating any activity. Any manager who is making an effort along with his team to achieve the goals of his organization, it’s just for to monitor the whole process and judge the quality of work done by the staff.

lisa
Lisa C. Townes

Lisa is a passionate travelers. She spends 3 months every year visiting different places worldwide. She has visited almost every famous place in the world. She herself is an affiliate blogger

Filed Under: Management

Personnel Management [ Functions, Importance, Objectives & Definitions ]

Last Updated on October 8, 2021 By Lisa C. Townes Leave a Comment

Personnel Management focuses on the administrative tasks of the organization along with the employee’s welfare and labour relations management. It is often considered as a sub-category of Human Resource Management. Few consider it to be the same as HRM but it is different from it.

Personnel Management Definition by Different Authors

Edwin Flippo

Personnel Management is concerned with procurement, development, compensation, integration and maintenance of personnel of organization for the purpose of contributing towards the accomplishments of the organizational objectives.

Paul Pigore & Charles Myres

Personnel Management is the line responsibility & staff functions, assisting managers in providing advice, counsel, service and various types of controls to secure uniform administrations of personnel policies designed to achieve an organization’s objective.

Prof. Michael Jueins

Personnel Management is that field of management which has to do with planning, organizing and controlling various operative functions of procuring, developing, maintaining and utilizing a labour force in such a way that:

  • Objectives of the company are attained economically and effectively.
  • Objectives of all levels of personnel are served to the highest possible degree.
  • Objectives of the community are duly considered and served Anything HR Solutions

Martinez et. al, 1993:215

The efficient use of the material resources of any organization depends on how well it is utilized by its Personnel or Manpower.

Sison,1991:30

Personnel Management is concerned with promoting and enhancing the development of work effectiveness and advancement of the human resources in the organization through proper planning, organizing, directing, coordinating, and controlling of activities related to procurement, development, motivation, and compensation of employees to achieve the goals of the enterprise.

H.N. North Scott

Personnel management is an extension of general management that of promoting and stimulating every employee to make the fullest contribution to the purpose of the business.

Terry R George

Personnel management is concerned with the obtaining and maintaining of a satisfactory and satisfied workforce.

Spates,194 4:9

Code of the ways of organization and treating individual at work so that they will each get the greatest possible realization of their intrinsic abilities, thus attaining maximum efficiency for themselves and their group, and thereby giving to the enterprise of which they are a part its determining competitive advantage and its optimum result.

Webster, 1687

The phase of management concerned with the engagement and effective utilization of manpower to obtain optimum efficiency of human resources management functions.

Paul G. Hastings

Personnel Management is that aspect of management having as its goal the effective utilization of the labour resources of an organization.

Personnel Management

Functions and Objectives of Personnel Management

  • Conduct job analysis
  • Recruitment and Selection of employees
  • Performance appraisal systems of employees
  • Handling employee relations at the workplace
  • Employee Retention
  • To align the individual’s goals with the organization’s goals and objectives
  • To assure organizational compliance with governmental laws
  • Provision of the proper work environment and to ensure job satisfaction
  • To analyze Job security, avenues for promotion and internal and external compensation
  • To achieve a social objective like creating more employment opportunities, producing goods at the cheap rates and allocation of resources in useful ways
  • The orientation of new employees in an organization
  • To motivate the employees to do best on jobs
  • To communicate with all employees effectively
  • Role of Personnel Management is to play a role as Mediator between employees and management
  • To assist the top management in developing the strategic goals and objectives

Importance of Personnel Management

Employees are considered as an important asset of an organization, so the organization tries its best to retain them. In this modern era, many companies hire personnel managers as an essential part of their organization. Personnel management deals with transactional and administrative aspects of HR management. To understand the importance of Personnel Management considers the following:

Motivation

Personnel managers motivate employees to their job. They tried to motivate those employees who are not doing their job in a way as it should be doing. They carefully listen to their problems and solve their queries and issues. On the other hand, personnel managers motivate employees by offering them incentives, bonuses, perks, promotions, etc.

Competitive

Personnel managers train employees to stay up-to-date on their jobs because things are changing rapidly in this fast-paced era. So with the changing external environment organizations have to adopt a change to survive in the industry.

Hence, personnel managers conduct training sessions and seminars to train and to develop their employees. So that they can easily perform their jobs.

Competent Workforce

Personnel manager develops a competent workforce who can work with full devotion to achieve the mission and vision of the organization. He evaluates the performance of employees and finds out the best workers to create a competent workforce. The competent workforce also plays an important role to gain competitive advantage.

Managing People

Personnel managers manage not only the organized and disorganized workers in the organization, but individually manage the people in the organization. It manages all of the persons and departments like clerical staff, administration, top management, line managers, etc.

Human Relations

Personnel department concerned with the human relations in the organization. It stabilizes human relations through 7 Cs communication, supervision and leadership

What Happens In the Absence of Personnel Management

  • The turnover rate will be high
  • Wrong hiring process
  • Conflicts will be increased
  • Wrong compensation and benefits plans
  • Outdated structure
  • Unfair labour practices
  • Incompetent workforce
  • Demotivated employees
  • Unable to gain competitive advantage
  • Wrong performance appraisals systems
  • Organization’s goals and objectives couldn’t be achieved
lisa
Lisa C. Townes

Lisa is a passionate travelers. She spends 3 months every year visiting different places worldwide. She has visited almost every famous place in the world. She herself is an affiliate blogger

Filed Under: Management

Importance of Psychology in Human Resources Management – HRM

Last Updated on February 19, 2022 By Lisa C. Townes Leave a Comment

Psychology is the study of mind and behavior and if we talk about the role of psychology in human resources then it is the branch of psychology studying behavior and mental processes of the person in the course of management. Organizational psychologists play a vital role in the human resources management functions of different companies and organizations.

A study was conducted by Seyidov in 2002 in which they also defined the management and then shows the correlation between management and psychology

Selection of New Employees

Human resources psychology jobs are designed for the selection procedure for hiring suitable employees is very important. The interview is taken by the candidates in whom they examine the skills, interest, knowledge, passion, and determination of the persons related to the requirements of the job.

A psychologist is also present in the panel interview and assesses the person’s confidence level, verbal, nonverbal behavior, and above all his motivation.

8 steps in the employee selection process are taken under the deep observation of a business psychologist. Psychometric tests are also used for further evaluation. Self-report inventories are given to the candidates for measuring their cognitive abilities, logical reasoning, and personality. These inventories should be standardized, valid, and reliable.

Performance Checks to Improve Existing Employees

The role is most important in promoting the already working employees in the organization with different employee performance management tools. Psychologist improves their performance by using different tactics.

Motivation

The motivation of the employees is very important in any job. If a person is motivated to do something then he can achieve the goals and maintain his status among other employees. They can be motivated by randomly putting employee motivation quotes images in the office, the computer wallpaper, or any weekly or monthly seminars.

Interpersonal Relationships

Mostly, they try to enhance communication skills. Employee communication with other employees and the manager is part of the organization. There are various types of interpersonal relationships within the office. If the environment is pleasant and employees are working, ultimately, productivity will rise.

If there is conflict among employees then it affects the performance of the persons and keeps them disturbed during the work.

Reward and Bonuses

If the employees are working honestly in the company then a different type of bonuses & rewards for the employees to motivate them should be given. It causes to increase the performance and, in the response, they work hard by day and night and raise the company and organization in society.

Besides rewards and bonuses, if the manager increases their wages and salary on the basis of their work hard and loyalty then it leaves a positive impact on their mind.

The environment of The Organization

The psychologist also suggests that the Physical environment of any organization is the most important part of improving performance. The structure of the room should be airy, the proper light should be available. Machines should be updated.

In some company’s tea and lunch breaks are given to the employees and it makes them fresh. Internal Organizational environment should be friendly to do employee duties effectively. Timing is also the most important factor and eight hours of duty in a day is enough for better performance.

Entrepreneurial & Leadership Skills

Leadership in management is also the most interesting factor.  There are different types of leadership & Entrepreneurial skills & styles manager adopt according to their personalities. The transformation leadership style is all about bringing change among groups and employees. This type of entrepreneur and leader motivates others to do more, listen to their complaints, and solve their disputes. They set more challenges and often achieve higher performance.

lisa
Lisa C. Townes

Lisa is a passionate travelers. She spends 3 months every year visiting different places worldwide. She has visited almost every famous place in the world. She herself is an affiliate blogger

Filed Under: Management

Importance of Human Resource Management – HRM

Last Updated on December 26, 2021 By Lisa C. Townes Leave a Comment

In this modern and technological era, competition has been increased between organizations of every industry. This is why human resource management is important to all managers. The main role of human resource management in an Organizations is to find unique talent (workforce) to compete and sustain themselves in market. Diversity may become one of the hurdles in the process of hiring and retaining the unique talent.

Human Resources are the people who compose the workforce of an organization. On the other hand, Employees are the most important resource of organizations and organizations invest its time and money upon them, that’s why organizations want to build long-term relations with their employees to and build basic characteristics of employee & want to retain them

With HR Department
• Better Hiring
• Solving Employee Problems
• Utilizing hidden abilities
• Solving Conflicts
• Compensation and Benefits
• Advanced Training
• Right Person at Right Job
• Employee Management
Without HR Department
• Problems in Recruitment
• More Conflicts
• Wrong Job allocation
• Lower Personnel Productivity
• Zero Training & Improvements
• Lack of Trust on Business
• No Talent acquired
• Employee Absenteeism

Importance of Human Resources Management – HRM

As employees are considered as the most important asset of an organization. So organizations invest its time and money upon them in the form of Training and Development. Training is to improve the Knowledge, Skills, and Attitudes of employees for the short-term, particular to a specific job or task. E.g. skills and technical training, Counselling, Coaching, Employee Orientation.

Development is to prepare employees/managers for future responsibilities, while increasing the capacity to perform at a current job. E.g. Management Training (which includes the strategies for dealing with challenging situations and difficult employees and to lead people with a variety of behavioral styles) and Supervisor Development (to utilize the available resources with the organization for the enhancement of management skills & knowledge of managers and supervisors.)

  1. Recruitment and Selection is the most important Function of HRM. HR managers have to manage the process of recruitment and selection in a very effective way. They have to take the separate Recruitment and selection methods to fill the top management and lower management posts. To fill the lower level management posts, HR managers mostly follow the recruitment and selection process. But to fill up the top-level management posts, they follow-up the “Succession Planning” approach in a wisely manner. For this purpose, they take a keen interest in the organization’s
  2. HR department is responsible for planning compensation and benefit plans for all employees in the organization. Human Resource Management proposes the market-based Compensation and benefit plan. In the long-term, the HR department also determines the Bonuses, Incentives, Perks, Retirement plans, etc. to attract and retain the best employees of the organization.
  3. HR managers also deal with the employee’s health and safety program. They make measures and steps to ensure employee safety and provide a safe working environment.
  4. Conflict Management is also one of the most important functions of Human Resources. HR managers solved the issues that occur in an organization. Conflict may arise between employees or employees and managers. HR professionals who have trained with types of conflict management strategies, play their techniques in negotiating and resolving the conflicts.
  5. Employee Satisfaction is also the one of the roles of the HR department. HR professionals by understanding Psychology in HRM resolve the issues or difficulties that employees face within an organization. They also play their roles in motivating the employees towards their jobs. So that turnover rate can be reduced to a minimal
  6. HR department is responsible to recommend the organization to achieve its strategic goals and objectives. It is also responsible for achieving its mission and vision. For this purpose, HR professionals try to align the organization’s goals with individual goals. So, in this context importance of HR for organizational success couldn’t be denied
  7. Personnel Management in HRM is also one of the important functions of HRM. Human Resource department measures the performance of employees on the basis of specific performance criteria. Performance measurement helps the HR managers to monitor the performance of employees.
  8. Importance of the HRM department can be seen in the compliance related issues in every class of organization. They ensure that the organization is following some acts like the Fair Labor Standards Act, Uniform Services Employment and Reemployment Rights Act (USERRA), Family and Medical Leave Act (FMLA) etc.

Why is Human Resource Management Important – The Absence

  1. Staffing the wrong person at the wrong place and time with wrong skills at the wrong
  2. The process of Job Analysis may be derailed
  3. The process of Training and Development will be stopped
  4. Turnover rate will be increased
  5. Compensation and Benefits Management System will wrongly be decided
  6. The conflict between employers and employees will be increased. In result, employees will be unmotivated and dissatisfied
  7. Difficult to achieve the organization’s mission, vision, goals, and
  8. The uncertainty of Equal Employment Opportunity
  9. Lack of innovation and unique talent in the organization
  10. Absenteeism rate will be high
  11. The absence of an ideal work environment
  12. Organizational culture will not be maintained
  13. Difficult for an organization to gain a competitive advantage or improve performance
  14. The uncertainty of labor and employment laws
  15. Inferior workforce
  16. Wrong succession planning and career paths
  17. The disorganized and unsystematic hiring process

As a result, HR is an essential part of an organization. The organization will be less successful without the HR department.

lisa
Lisa C. Townes

Lisa is a passionate travelers. She spends 3 months every year visiting different places worldwide. She has visited almost every famous place in the world. She herself is an affiliate blogger

Filed Under: Management

Functions of Human Resource Management – HRM

Last Updated on March 9, 2022 By Lisa C. Townes Leave a Comment

HRM is an activity in the organization which is vital for the optimal performance of the organization. HRM manages and directs the output of employees towards organizational goals. The primary functions of human resource management are to deal with issues related to staff like hiring, compensation, performance, safety, wellness, benefits, motivation, and training.

Humans in the organization are a resource of that organization that works as essential fuel for any organization, employees are managed like any other resource. The main objectives of human resource management are to perform various Important functions of Human Resource Management in an organization and drives an organization to its goals, efficiently and effectively.

Top 3 Functions of HRM
• Operative
• Operative
• Managerial
• Managerial
• Advisory
• Advisory
Functions Classifications
• Recruiting, Training, Development
• Performance, Legals
• Planning, Controlling
• Organizing, Instructing
• Management Advisory
• Departmental Advisory

In any organization, There are Three Main Functions of Human Resource Management.

  • Operative
  • Managerial
  • Advisory

Operative Functions of HRM

Operative Functions of Human Resource Management in an organization are the most practical and critical tasks assigned to the staff. One wrong or right decision can make a difference. Personnel Management is the toughest task as every human is different in personality. Each applicant itself is a different subject. Businesses by understanding the importance of psychology in human resource management started to hire Psychologists to get rid of this problem.

Design a Recruitment Process

You can consider the importance of selection in HRM as the Importance of Water in Life. This is the most difficult task performed by HR managers. The first HRM objective involves many things like job posting, description writing, interviewing shortlisted candidates, negotiating salary, and making a job offer. Evaluating applicants with characteristics of good employees is never been an easy task for any recruiter. HR managers need to develop new models for new jobs, which is also a very challenging and time-consuming task to design, test, and evaluate different types of recruitment.

Training and Development

HRM department manages and trains newly recruited people and takes them through various types of training and development processes. Meanwhile, the organization also monitors the performance of the fresh candidates which helps the HR department to evaluate the potential of the candidates and where to appoint them. In this way, they find shortcomings that fresh candidates have.

Professional Development of Employees

HR managers also perform a vital role in the development of newly recruited employees. HR department analyzes the performance of their current employees. If the performance of workers is enough making organization achieve its goals otherwise they are provided professional training. In this way, employees receive support from fellow seniors, and also communication between them becomes better.

Compensation and Benefits Policy

HR management also deals with any official paperwork regarding employees of the organization. The employee chooses to work in an organization where there are benefits for them. Different duties of employees are evaluated under predefined processes to award them with compensation. The most common benefits include

  • Work hours flexibility
  • Extended vacation
  • Dental/Medical Insurance
  • Maternal/Paternal Leave
  • Education Reimbursement for children

Performance Evaluation

Human resource management keeps check and balance on the performance of employees through traditional and modern performance appraisal systems. If employees are not working according to the organization’s goal then it is the duty of the Human resource manager to identify them and then provide professional training to turn them into good employees.

Legal Activity in an Organization

HRM department also processes all the legal activity required for the survival of the organization, they should be aware of all the laws regarding employment, working conditions, working hours, overtime, minimum wage, tax allowances, etc.

Compliance with state laws and standards is very important for the protection of the organization.

Managerial Functions of Human Resource Management

Planning

This is a vital function when it comes to set future goals and creating new policies inside an organization. The HR department also plans future vacancies, job requirements and decides the recruitment sources. They also plan and define the standards of possible candidates, appoint workers, and the structure of organization departments.

Controlling

Controlling is concerned with the completion of organizational goals as planned. It is one of the crucial HR responsibilities to plan and direct employees efficiently towards the organization’s goal.

Organizing

It is concerned with designing organizational structure effectively. HR management performs this important function too which is the reason behind the organization’s success. The process of organizing consists of these.

  • Employees, grouped into positions or activities.
  • Creation of departments within an organization.
  • Allocating different functions to different persons.
  • Delegating authority as per the tasks and responsibilities assigned.

Directing

This function is preordained to inspire and direct the employees to achieve goals. Human resource managers always keep in touch with the employees.

This is achieved by placing employees according to their skills and intellectual ability in an organization. It is not an easy job for an HR manager, Manager should have good communication skills with employees so he can appoint them according to their abilities & assign duties.

Advisory Functions of HRM

Top Management Advises

HR manager is a specialist in human resources due to this he/she can advise top management in policymaking. The manager can also help top management in defining rules and the overall environment of the organization.

Departmental Head Advises

As an acting head of the HR department in any organization.  A manager can give advice to the heads of various departments on policies related to job design, job description, recruitment, selection, appraisals, and policy creation

lisa
Lisa C. Townes

Lisa is a passionate travelers. She spends 3 months every year visiting different places worldwide. She has visited almost every famous place in the world. She herself is an affiliate blogger

Filed Under: Management

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