For businesses that rent portable toilets in addition to providing septic tank cleaning services.
Managing inventory variability is a constant struggle in business one tool to help manage this is a regression analysis. As an operations engineer of an aluminum and bronze casting facility that produces a proprietary line of electrical transmission components it was my job to address product requisitions, generate quotes and do what I can to make the fulfillment of orders go smoothly. More often then not customers came to us looking for parts they needed quickly, and in the world of power transmission a day can mean thousands upon thousands of dollars lost. As our name grew and more people heard about the product line, our market share also saw growth. Each part had a separate demand so for the sake of this exercise I focused on only one item. As you can see our quantities are all over the place but there is an indication that we were experiencing an upward trend in our average volume.
A product that doubles in sales every two years is a great for a company but lets look at the over all sales for each year to see how they match up. One way to combat this is to make the on site inventory a function of the prior month’s sales. Every bit of data helps us determine what tomorrow might bring but no extent of data will ever insure us as to what tomorrow will bring. A good practice would be to continually run the regression analysis for different time periods and see if perhaps we could identify potential cycles or seasonal trends that we could later exploit in order to maximize profit.
I hope this illustrates how a tool like a regression analysis can be helpful but could lead to making wrong decisions if the practical circumstances are not understood.
About SHYMy name is TJ and I started this site to give you the knowledge and resources required for small business success.
The goal of the site is to assist SHY Entrepreneurs in succeeding in life and the world of business through the use of the communities’ ever evolving skills, training, and experience.
Personal Finance Software Reviews And TutorialsFinancial software reviews and tutorials for using software, online apps and mobile apps for personal finance and small business management. Point Of sale – Wikipedia, The Free EncyclopediaThe POS unit handles the sales to the consumer but it is only one part of the entire POS system used in a retail business. Business management software To manage Every DealBusiness management software to manage every deal The Karmak Business Systema??s Sales functionality is designed to capture and track the lifecycle of a unit in corporation, therefore providing a unit sales solution no matter how large or small the dealership. Small Call CentersVirtually none have advanced applications like performance management software and speech analytics. Management CRM – YouTubeFor two-and-a-half decades today we are helping a huge number of small me Improve your consumer relationship management capability with proven Mobile CRM and business CRM solutions.

Growing Your Business With Contact Management SoftwareA contact manager is software that helps people get the most from their business relationships. Using Software To Stay Organized In Your Small BusinessSome small business owners find that personal money management software like Microsoft Money or Quicken can work well for record keeping. Small Business & Home Based Business Accounting SoftwareLearn about software to manage your small business and discover which software is best.
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I will not tell you a complicated theories  of small business management but i will try to be practical and give you ideas and solutions and  free template management software to start or enhance your own business. The most important thing in my opinion to commence a small business is to choose something you like, not necessarily the most potential income business is the most successful one. Choose carefully your employers and give them the spirit of team work and sharing profits, remember small business management relay on employers performance and considered a very important factor of your success.
Keep improving your small business and evaluate your business from the customer point of view.
Posts related to Small Business ManagementHandle Scope Change Requests with Appropriate Discipline   When a project begins, you must gain agreement with your sponsor on project scope. A regression analysis is a statistical assessment of date that seeks to identify a general overlaying trend. We did what we could to get the needed parts out as fast as we could but if a part was not on the shelf there would most certainly be a delay. This selective inventory model worked nicely for us but with the continual rise in sales comes a need for more parts on hand.
If this were the case it would be wise to add 8.52 additional parts to our on hand inventory every month to compensate. It would be wise to take note of this as the deviation in sales is a good indication that the demand is not constant.
Knowing that the ratio of standard orders to rush orders was about 7:1 we could determine a good starting point for our inventory to be 20% of the prior month’s sales.
The regression analysis provided an indication to our macro rate of change while a quick look at our over all sales showed us that the distribution of sales was not uniform.
Many people right out of college have a great deal of tools under their belt but often do not know how to properly us them in the real world.

We seek to educate entrepreneurs on measures that assist in minimizing risk, maximizing profitability, maintaining integrity, and increasing enjoyment. Small call that have invested in contact centers have two fundamental areas they need to optimize-their sales and their people.
Our retail management software helps small business retailers run more efficient businesses, increase sales and make better quality business decisions. Contact management software is an indispensable tool for sales professionals and others who deal with people, such as small business owners, consultants, agents, and brokers. His entrepreneurial experience comes via his former partnership in a consulting firm and sole ownership and management of a successful software sales management position at Staples for three years. I will guide you in this topic and i will tell you the effective methods, steps and project management software to have a successful business. Mainly to have a successful  business project management you need to plan before you start.
It isn’t practical to maintain a large inventory all the time due to the carrying costs involved so, as an alternative we kept a select inventory of our most popular parts available. If our demand isn’t constant we need to be careful about producing more parts then what we can sell. While this may result in a larger on site inventory then what is required for rush orders, it is more then likely not going to exceed the quantity that we will sell for the month. My hope is that this illustration will push you to better understand your problems before spouting off a potential solution. Feasibility Study Template for Small Business Management (see figure below) i divided the project into two phases, Construction Phase which you will be preparing the office and decoration and so or and mainly this phase without any income to you then the project running phase which will include some income and profit.  it is clear that we need to spend 1500 $ in the first month of our project and 1750 $ in the second month and 4850 $ in the third month without any income.
Like all statistical tools a regression analysis has limitations and without an intuition of the sample data a regression analysis is useless. The following is a sample of how a regression analysis could be used in small business inventory management and how knowledge of the real world implications was taken into account.
A Communications Plan is the document which outlines the information to be provided to all project team  to keep them informed of the progress of the project.

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