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Simple Ways to Reduce Expenses when Managing a Vehicle Fleet

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Vehicle Fleet

If you own a fleet of vehicles, you are likely already aware of just how difficult managing day-to-day operations can be. Maintaining safety, punctuality, and efficiency is challenging enough without needing to weigh the often high maintenance costs and profitability as well. To make fleet management a simpler and more streamlined process, you will have to find new ways to save money in different areas of operation. With that in mind, here are some simple tips that might be of help:

Utilise cards and points

One of the easiest ways to save money on fleet management is to reduce your fuel costs. You can easily get special fuel cards for your drivers or even payment cards that allow you to collect points, get unique discounts, and reduce your fuel expenses. Depending on the type of card you select, you may also gain access to unique benefits such as fixed fuel prices close to the wholesale value, no interests and fees, lower admin costs, reduced risk of fuel fraud, etc. Don’t forget that fuel is a business expense that can be used as a tax write-off.

Focus on efficient driving

Drivers can impact fuel efficiency as well, reportedly around 30%. To reduce consumption and ensure safe conditions, it’s important to educate your drivers on the most efficient tactics. This includes avoiding harsh acceleration, hard braking, inconsistent and excessive speeds, and idling, as they can all quickly burn fuel. Air conditioning should also be used in moderation to increase fuel efficiency, and the weight of vehicles should be reduced as much as possible to avoid a negative effect on fuel consumption.

Use a telematics system

Combining onboard diagnostics with a GPS system, telematics is used to monitor fleet activity. These systems can map and record the exact speed and location of vehicles, and cross-reference this data with how cars are behaving internally. Tracking fleet information through telematics systems and making changes according to the collected data can go a long way toward reducing expenses. The right solution could also aid in identifying the most efficient routes, detecting when and where to refuel for cost optimisation, highlighting unfavourable driver behaviour, boosting employee morale and retention, and more.

Prioritise maintenance

Although often overlooked, regular maintenance can drastically cut costs in the long run. Checking your vehicles following a set schedule and making smaller repairs as you go is much more cost-effective than only repairing or replacing parts once they break down. Australian fleet managers, for instance, are well aware of this fact. That is why they often perform tyre replacement in Sydney with the most experienced mechanics. Not only can these experts deliver a fast and efficient service that prevents downtime, but they can carry out other crucial maintenance checks as well. Consider visiting similar professionals in your area for maintaining optimal operations.

Reconsider vehicle types

In order to minimise your expenses even further, you may want to reconsider the types of vehicles you have in your fleet. For example, many European companies have recently decided to switch to electric cars. Local governments offer incentives and subventions for green practices, including electric vehicles and renewable energy sources, which saves businesses a notable sum throughout the year. If you have similar opportunities, think about making the necessary changes that will aid in savings. If not, even reducing the weight of your vehicles and comparing the reliability and performance of your current fleet with new vehicles can help you make economical decisions.

Reduce the size of the fleet

While this may be an obvious way to save a larger amount, many companies rarely rethink the size of their fleets. But if you perform a more thorough assessment every once in a while, you might find that there are a number of vehicles you can replace or even entirely eliminate. Consider your current needs and daily business operations, as well as the overall workload and whether it can be distributed across the fleet in case you decide to downsize. If everything looks good and manageable, don’t be afraid to make a few cuts.

Invest in a good insurance

Regardless of the type or the size of your fleet, insurance should be a regular aspect of your business. It can keep both your vehicles and your company protected while reducing your expenses in terms of covering the cost of repairs and replacements if accidents and breakdowns ever occur. Instead of insuring every vehicle separately, go for a comprehensive policy that covers the entire fleet. You can enjoy the same benefits with this type of insurance, along with reduced premiums in many cases. When choosing the right cover for your fleet, try to shop around and consult professional brokers to make the best decision.

Efficient fleet management can often be a challenging and expensive task. Use the advice mentioned above to reduce costs and find new growth and success opportunities for your business.

Carolin Petterson is a Business Lady/Content Marketer and contributor for number of high-class business and marketing websites.

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7 Reasons Why Businesses Need a Great Product Availability Tracker

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Product Availability Tracker

Emily Newton is the Editor-in-Chief of Revolutionized, an online magazine showing how technology is disrupting many industries.

As an entrepreneur, you must work to ensure you have the correct products in the appropriate quantities. Solid product availability helps you meet client needs, retain good relationships with suppliers, and improve overall operations.

Tracking product inventory can be complicated, especially when your days are full of hands-on work. Luckily, stock tracker technology can help. Let’s take a more detailed look at product availability and why businesses should invest in excellent product availability tracking technology.

What Is Product Availability?

From an entrepreneurship standpoint, product availability ensures you have the correct amount of supplies in stock to satisfy your clients and customers.

When you have the correct supply available, you encourage your customers to make regular purchases from your business because you’ve established yourself as reliable.

Keeping track of your inventory can be complicated and time-consuming. A product availability tracking system can help ensure you have the correct amount of stock available at all times. Companies use various methods to track inventory, including:

  • Barcode scanning
  • Radio frequency identification (RFID) tags
  • Stock books
  • Kanban system

Some companies also invest in stock tracker technology that sends real-time alerts when they experience inventory changes, whether from changes in demand or other factors.

Types of Product Availability Alerts

Stock alerts can give you real-time updates about changes in your inventory. These alerts may include:

  • Notifications about low stock
  • Messages about bulk orders
  • Alerts about slow-moving stock
  • Notices about new shipments

With stock tracker alerts, you can easily keep track of your available stock so you always have products available to satisfy clients and customers.

Why Businesses Should Have a Great Product Availability Tracker

The process of tracking product inventory can be made easier with a great product availability tracker. Check out these seven reasons to invest in a stock tracker at your company:

1.    Creates a Positive Experience for Clients

One of the top priorities of any business is creating a good experience for customers and clients. It’s why so many companies prioritize customer service and relationships with their consumers. When you have everything your clients or customers need in stock at any given time, you can improve their relationship with your company and create a loyal consumer base.

Meeting your clients’ needs is essential for fostering a positive experience for them. If you often run out of certain items that your clients need, their projects might become delayed, they could become frustrated, or they might start visiting one of your competitors to find the items or parts they need.

2.    Helps You Avoid Stockouts

One of the worst feelings as a shopper is to walk into a storefront and see aisles upon aisles of empty shelves. A similar feeling can be evoked when necessary parts or items are out of stock online. Stockouts can happen for various reasons, including underestimating the demand for a product and forgetting to place an order for restocking.

Product inventory alerts can inform you when the demand changes for certain products or parts. With that information, you can make more informed forecasting decisions about which products to purchase and in what quantities. This will help you provide sufficient stock so you don’t lose any loyal customers.

On the other hand, understanding your inventory can help prevent purchasing too much stock and losing money on items you don’t sell.

3.    Understand Sales Trends

With access to real-time product availability information, you can analyze and understand your business’s sales trends. This is especially helpful if your company experiences massive sales in one month and a lull the next, and you’re not sure why.

Getting a clearer picture of what products aren’t selling and which ones are in demand can be a valuable tool for the overall effectiveness of your company.

4.    Keep a Good Relationship With Your Supplier

Many moving parts make up a successful business, including participation from suppliers, distribution companies, and more.

If you source parts or materials from a supplier, having a product availability tracker can make your relationship with them more seamless and efficient. You can be more specific about your needs and foster a better relationship complete with open communication with your suppliers.

5.    Ensures Your Records Are Accurate

By implementing an effective inventory management system, you can gain a better understanding of your production limits and other processes so you can continually improve.

Keeping a detailed record of your inventory ensures your most essential records are accurate and up to date. If your records are inaccurate, you could face stockouts and issues with order fulfillment. Inventory alerts help you accurately keep track of that important data.

If your company has multiple locations, it’s even more important to standardize your inventory tracking to maintain consistency across your operations.

6.    Improve Your Operations

When you receive inventory alerts based on how many parts or products you have available, you can stay organized during busy selling periods, maintain control over your operations, drive sales, and determine when it would be appropriate to raise or lower your prices.

You can also delegate employees to higher-priority tasks when you have the ability to let stock tracker alerts and technology take the brunt of inventory management. This makes your operations overall more efficient and well-managed.

Tracking Product Inventory With Stock Alert Technology

If you’re looking for a more effective way to track your inventory and make your operations more efficient, stock alert technology might be the necessary next step. Tracking product inventory improves your relationship with your clients and customers, makes communication easier with suppliers, helps you identify your business’s strengths and weaknesses, and ensures your most essential records are accurate and up to date.

Like any entrepreneur, your days are full of hands-on work on the company floor. With product availability software, you don’t have to spend any more time tracking and analyzing your inventory and you can get back to what you’d rather be doing – building your business and interacting with clients and customers.

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Top Skills Every IT Professional Should Develop

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it professional skills

Whether you’re contemplating getting into the field of information technology or you’re already an IT specialist wanting to further your career, there are a number of hard and soft skills you need to develop in order to ensure success. These capabilities look great on a resume, they make you a more well-rounded job candidate, and they can enable you to become a more valued and efficient employee as well. With that in mind, here are the top skills you should develop to reach success as an IT professional:

Coding skills

Coding skills are among the most basic competencies every employer will look for in IT professionals. If the role involves programming and software or web development, that could also mean seeking proficiency in several programming languages, considering how most systems are built. That is why you should aim to expand your coding knowledge even if you’re already familiar with a couple of languages. Some of the most common competencies you should consider developing include C++, HTML, Python, Java, JavaScript, PHP, Ruby, etc. Training for advanced certifications and practical experience is also recommended.

Troubleshooting

To reach success in the IT world, you will also need to have exceptional troubleshooting and problem-solving skills. Whenever team members encounter tech issues that prevent them from completing their work, they will likely turn to the IT department to solve them if they can’t do it on their own. In certain roles, IT professionals may also be required to work with challenging and time-consuming algorithms. Unfortunately, extensive technical knowledge, hard skills, and years of practical experience are the only factors that could truly be of help when it comes to finding the right solutions in this area.

Analytical skills

Regardless of the specific role, each IT specialist will be involved in a number of projects that entail the analysis of database activity and recommending suitable solutions. Having the ability to think analytically and critically can help in discovering the right solutions that are needed for performing the job efficiently. Analytical thinking can also aid in processes such as troubleshooting, as well as making you more employable. To develop your critical-thinking skills, you can build reason through logic, do question assumptions, seek out diversity of thought, or take a specialized course.

Business administration

Developing your business acumen is important for any career, but it becomes even more vital in such a tough and competitive field as IT. For that reason, it might be a good idea to get an online MBA degree to enhance your resume. Allowing you to become a Master of Business Administration, this degree will help you develop core competencies such as business strategy, ethics, economics, finance, leadership, marketing, etc. Covering a wide array of crucial business skills, an MBA degree can aid in expanding your horizons, landing a better, higher-paying role, or simply boosting your career to the next level.

Project management

Dealing with several projects at the same time is quite common in the IT industry, which is why it might be wise to consider building your project management skills. Whether you decide to take a course or even develop these competencies yourself, the most important skills you should focus on include time management, planning and forecasting, budgeting, risk control, tracking and monitoring, and the use of specialized software. Having the ability to manage your workload effectively will demonstrate your multitasking and goal-reaching skills, which will appeal to any employer.

Organizational skills

Being organized when performing your work responsibilities is how you become a productive employee, and is another highly sought-after skill. Companies tend to prioritize candidates who can show good organizational skills, as it demonstrates their ability to perform well and follow a set schedule. New challenges that affect how you manage your workload can present themselves each day at work, and staying organized is a great way to show productivity, efficiency, and real value to employers. So, aim to build these beneficial skills through goal-setting, prioritization, categorization, rewards, etc.

Communication skills

Great communication skills are vital in all aspects of life, including the workplace. This is a very important universal skill that can help you interact with coworkers positively, collaborate with others efficiently, and assist with tech-related concepts effectively. Chances are high that you will work in a team as an IT professional, and you may need to talk to other departments, managers, and clients in many cases as well. Ensure you can communicate clearly and productively in any case, by contemplating sentences, being specific and brief, listening carefully, watching your body language, and checking all messages before sending.

From hard skills such as coding and troubleshooting to soft skills like organization and communication, the job of an IT professional can encompass a number of different competencies. Focus on the main ones mentioned above to enhance your resume and increase your chances of success.

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Guest Post

10 Amazing Online Certifications Every Entrepreneur Should Complete

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Online Certifications Every Entrepreneur Should Complete

Entrepreneurs set the roles for their businesses, and learning is a lifelong process. It’s easy to get online certifications to expand your skills and improve your company’s reputation, and you can conveniently complete these programs during your lunch break. Online courses for entrepreneurs can develop your skill set and provide you with a competitive advantage.

Here are the best courses for entrepreneurs to take.

1. Coursera Entrepreneurship Specialization

This is one of the best online courses for entrepreneurs that offers a flexible schedule. It’s perfect for those with a busy routine or startup managers. The course focuses on developing business opportunities, strategies for business growth and financing. There is a capstone project at the end of the class.

You can take just one or all of the courses, depending on your specific needs. The material is self-paced and taught by the Wharton School of the University of Pennsylvania. The certification requires a fee, but there is an opportunity for financial aid.

2. Coursera Essentials of Entrepreneurship

This is one of the shorter online certifications, so you can take this course even during the peak of your business cycle. Another benefit is the deadlines are flexible and can be moved around. The class teaches skills like managing a startup, spotting new business opportunities and facing challenges.

Other important lessons are the value of a business plan and how to achieve success in a new company. Enrollment is free, but adding the certification will cost around $35.

3. Coursera Innovation: From Creativity to Entrepreneurship

This online certification is offered by the University of Illinois Urbana-Champaign. Courses focus on building an organization’s foundation in innovation and creativity. You learn how to have an entrepreneurial mindset, harnessing the power of strategy.

Take the lessons to build toward the final project. The course is flexible, so you can work around your schedule. It’s also one of the best courses for entrepreneurs because it focuses on soft skills like teamwork. Collaboration is an essential but often overlooked topic. The course will take about eight months to complete and is beginner-friendly.

4. Udacity’s How to Build a Startup

This is one of the best courses for entrepreneurs because it’s free. The certification is an intermediate-level class taught by industry professionals, and the main objective is to teach people to launch a startup quickly and efficiently. It’s one of the online certifications focusing on collecting customer feedback and using it to refine your products.

The program has various teaching styles, from self-paced learning to interactive quizzes. The course is good for people who clearly know their business objectives.

5. Harvard University Technology Entrepreneurship

This is one of the best tech-focused online courses for entrepreneurs. The program is a class exploring new technology, such as artificial intelligence, and how to pair it with customer needs. It uses real-world examples centered on a systemic approach to entrepreneurship.

The idea is to understand how you can use new technologies effectively. The course is also shorter but provides helpful video lectures from Havard professors. You must sign up for the paid verified track to receive the certification.

6. Harvard Business School Entrepreneurship Essentials

Harvard’s course helps you connect your ideas to create a successful business. It centers on strategies to build and finance new ventures. The user platform is simple to use and well organized, so you can save time and get through the lessons quicker. The syllabus is well laid out, with a clear table displaying the title of the module and the main takeaways.

The one thing to remember is that the price is higher than other courses at $1,750. Also, it offers less of a flexible schedule. Therefore, you’ll need to complete the program with plenty of free time.

7. Udemy How to Come up With Killer Business Ideas

This is one of the best courses for entrepreneurs to develop the next big idea. Unlike other certifications, it doesn’t just focus on logistics. Instead, it centers on the creative approach that builds a company.

The lessons focus on how to generate ideas and objectively assess them. You’ll also learn to analyze areas of business and spot potential opportunities. Udemy also provides flexible scheduling and top-rated instructors. The one thing to note is the higher price point and less content.

8. Edx Becoming an Entrepreneur

The certification is offered in conjunction with MIT. It provides entrepreneurs with the encouragement and information needed to succeed. You’ll learn how to build an idea from the ground up. The tone of each lesson is friendly and approachable but offers thoughtful content.

The courses are both digital and in-person, and there’s a combination of short videos and interactive activities. You must pay for the verified track to get the certification.

9. Ultimate Digital Marketing Bundle by Reliablesoft Academy

This is one of the more comprehensive online courses for entrepreneurs. It teaches you how to build and promote your brand’s online presence and offers effective digital marketing techniques. You need to attract customers to be a successful entrepreneur, and this program will show you how to use online marketing to increase your client base.

The program is excellent for beginners, and you’ll learn the following:

  • Search engine optimization
  • Facebook ads marketing
  • Google ads marketing
  • Content marketing
  • Social media marketing

Unlike other programs, you only pay once and get lifetime access and updates. After passing the exams, you’ll get an SEO and a digital marketing certification.

10. Entrepreneurship: From Business Idea to Action

This fast-paced course explores topics like writing a business plan and creating pitches.

It discusses what it takes to run a startup and how to get support. Once you enroll, the first step is creating a self-development plan to build your brand. Then you’ll learn how to develop business ideas and raise finances. Other topics include working with mentors and producing sales action plans.

Here are a few more valuable skills you’ll learn:

  • How to source resources for your business and build networks
  • How to work as part of a team and create an effective business model
  • How to use resources for long-term business development

You can either subscribe to Future Learn Unlimited or choose a one-time lower payment.

Top Online Certifications to Consider

Gaining certifications allow you to become a better business owner, and learning online makes it easier to complete this process. Consider these best courses for entrepreneurs to grow your company today.

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