One of the most important tasks of the purchasing department is to reduce costs by optimizing stocks. A not so easy task, because it must be constantly juggled and avoid both overstock and stock shortages. A fine line and balance quite difficult to maintain without a process of continuous tracking and optimization.
Alina Răfoi
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KPI indicators are metrics that measure the performance of business processes. Performance indicators are mostly used so that the organization can make constant improvements to procedures that lead to better productivity and preserve profit margins.
The new context has come with many challenges for entrepreneurs from all corners of the world, and one of the hottest revolves around the idea of digitalization. Regardless of their size, digitization is a constant concern of companies in all industries, and we see this firsthand from our collaboration with clients in various verticals. Whether we are talking about construction, retail, distribution, services, logistics or agriculture, all organizations have something in common, namely the fact that they want to optimize the way they work, business processes, develop their competitive advantages and improve their operational efficiency.
The construction industry is increasingly pressured, but also encouraged, to adopt new digital tools. The construction market is at a key moment caused by the increase in the prices of raw materials, the lack of qualified labor in the field, but also the continuous adaptation to the sustainability requirements that companies must meet. Digital transformation and automation in construction are the first steps that the construction industry must take as quickly as possible.
With the massive expansion of technology, the profile of markets has changed both in the business to business and business to consumer fields. Orders must be delivered in the shortest possible time, with the highest possible accuracy and the lowest possible costs. At the same time, the product portfolio has diversified, each business dealing with an increasing number of products.
On the other hand, there are special requirements, such as batch traceability required by legal regulations in fields such as pharmaceutical or food, or traceability of single batches in order to ensure the guarantee of products such as electronic devices or car parts. In this context, coordinating the activity in a warehouse involves some extremely difficult, if not impossible, tasks without the assistance of specialized software.
The mix of challenges in the logistics industry forces companies to exploit the opportunities to the maximum, to rethink their business model and processes according to the digital paradigm. The logistics industry, although it has an increased resistance to change due to the complexity of the processes, is among those for which digitization brings the greatest benefits.
Digital transformation requires new digital business models for companies that want to remain profitable and maintain their market position. Like most industries, transport and logistics are currently facing a series of important changes, which bring both risks and many opportunities: new technologies, changing customer expectations and new business models. Thus, logistics companies are facing an era of unprecedented change as digitalization takes hold and customer expectations evolve.
2022 is a reference year in terms of the evolution of taxation in Romania. ANAF has taken great steps towards digitalization, especially to facilitate the relationship with the business environment. This term is by no means a new one, but its adoption in Romania was difficult and long delayed, bureaucracy remaining one of the most troublesome aspects of business.
Find out how you can access non-refundable funds of up to 100,000 EURO for the purchase of BITSoftware solutions.
What is the RO e-Transport system?
In April 2022, the Government of Romania approved a draft Emergency Ordinance establishing the implementation of the RO e-Transport integrated electronic system for monitoring the road transport of goods with high fiscal risk. The system is meant to track in real time the movement of goods with high fiscal risk on the territory of Romania. In other words, the state will monitor with the help of the platform, not only the transport of high-risk local purchases, but all transports of fiscally risky goods, even those that only transit Romania. On 30.09.2022, a GD was published that postponed the deadline for the introduction of fines from 1.10.2022 to 1.01.2023.
The COVID-19 pandemic has forced companies to rethink their strategies and reorient their operations to adapt to the changing environment. Some of these strategies that emerged during the pandemic have proven to be critical to business continuity. Companies have understood that they have to adapt to change and have moved towards a hybrid work model. They also understood that they depend on technology so that their employees stay connected and access the tools and data they need to maintain business as usual.
