Simple ways to effective Inventory control without using spreadsheets

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This article was published on: 14/01/22 4:46 PM

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Simple ways to effective Inventory control without using spreadsheets

 

One of the most challenging aspects of running an enterprise is learning how to effectively manage your inventory so you have what your customers need and want without having too much excess. Whether it’s deciding  how much to order, when to order, keeping an accurate count of your products, or knowing how to handle excess and shortages, knowing how to control inventory properly will help ensure your business’s success.

Things may seem complex, but there’s a simpler way out and a way forward. 

The first and most important step is to achieve a clear, meticulous understanding of the why’s and how’s. Next, that understanding needs to be understood and internalized by all your employees. This way, all stakeholders and employees in your business are invested in adhering to a gold standard of inventory control management. 

Step 1 : Assessing or sorting your Inventory is the first step to optimal inventory 

Step 2 :Next, invest in an inventory management software. The first step to inventory control is being deeply aware of how much inventory you have on hand at any given time, what type of inventory you have available, where the inventory is located, and how it changes over time. Today, the market is flooded with abundant software applications that can assist in this process. Be sure to spend some time searching the software market so that you are assured of a trustworthy software company.

Step 3 : Create clear labels. Each item in your inventory should have an item number, a quantity, and a basic description which includes the vendor name and any other important details. This makes it easy to identify precisely what the item is.If you have extensive amounts of inventory, look into a barcode tracking system. This will allow you to place a barcode on each item, which allows staff to quickly scan, identify, and transfer inventory information into whatever software you are using.

Step 4 : Constantly updating your inventory: Inventory management software can be a helpful way to keep track of your inventory since it automatically updates your inventory records as new sales and purchases are inputted into the software. It is important, however, to have a system of manually monitoring your inventory so you have a way to cross-check the accuracy of the software

Step 5 : Advance to a point-of-sale (POS) inventory management method once your business size grows big enough to need a more accurate form of inventory control. Point-of-sale inventory control is handled, as the name suggests, at the point of sale, which implies that the cash register or computer you use for check-out at your business keeps count of your inventory. It allows you to run reports at the end of the business day, the month, the sales report period, or any other designated time frame.

Step 6 : Maintaining the right level of the inventory is the key to efficient inventory control without using spreadsheets.The goal of inventory management is to keep up with demand which will need enough inventory to meet whatever your projected sales are.

Limitations or Disadvantages of Spreadsheet Inventory Management

If you are still among those entrepreneurs who use spreadsheets for inventory management you will be able to relate with these pains.

  • No real-time inventory data.

It’s difficult to constantly synchronize the inventory figures in your inventory spreadsheet with the amount that you actually have in stock. If you manage your inventory at multiple locations with varied units of measurements, then inventory tracking on spreadsheets becomes next to impossible.

  • To err is only human not automation.

All the values and units in your stock inventory spreadsheet should be keyed in manually, thus increasing the chances of mistake.  It becomes even worse when your inventory is frequently moved between different locations. This is  why you make frequent audits and reviews of your spreadsheets inventory.

  • Slow process equals wastage of time

With inventory management software in spreadsheets, it will take you hours to track your inventory. 

  • Only one user at a time.

Inventory management spreadsheets makes it difficult, and at some levels, impossible to create several accounts with different access rights that could manage your inventory at different permission levels.

  • Zero backup and no transaction history.

With inventory marked on spreadsheets, you cannot view your transactions back in time to analyze your inventory trends and make forecasts.

  • Limitations in user interface and shortage of functionalities.

Spreadsheets are all about rows and columns, nothing else. It offers valuable functions, but it’s difficult to implement them as compared with modern inventory management tools.

Unfortunately, for medium sized or large businesses an inventory managed on spreadsheets is outdated and insufficient due to a huge amount of tasks and transactions. The more established and developed you want your business to be, the more progressive and sophisticated inventory management tools it needs.With an automated inventory management system it is much faster and more efficient to run your business seamlessly.Automation and technology is the future of all businesses. Without automation software it is impossible to achieve desired goals in time.

To know more details contact us at +91 9007026542.

Streamline export documentation

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This article was published on: 15/12/21 3:28 PM

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Does excessive documentation and paperwork make your backoffice chaotic?

Business automation has become inevitable for any organisation that has a foresight and vision to look ahead. The future is technology. Automation is the only respite for achieving desired goals within the timeline for any successful organisation. Export industry is a notch ahead of any other industry. Dealing with overseas clients with different languages and cultures, rules and regulations, currency and conversions etc involves a lot of brain racking work. Export documentation is the most difficult task to sort so that no legalities are missed which can end up the company owner behind bars. A best fit ERP cloud software  solves most of these challenges faced by an export company. Every export order taking place in the company goes through defined steps of documentation like invoice, packing list, bill of exchange, shipping bill etc. Whether you are in an exporting business or someone who uses exporting services, you know that there can be a lot of paperwork involved. There is a lot of paperwork that can often seem endless and repetitive.Instead of performing the same tasks, it should be a simple set of few button clicks automating Export documentation to complete. 

As an Export house your organisation  depends on effective export control processes throughout the supply chain. The legal ramifications of violating export laws can be a huge challenge, we all are aware of that. Freight forwarder, customs broker, sea vessels crew, warehouse management all these can be simply managed by single export business software. To supply the highly competitive order shipments, freight exceeds in volumes of sales and profits, you need an ERP. Still wondering how?

3 Reasons why Exporters need a best fit ERP software 

1.Financial reporting accuracy – all invoicing and purchase orders can be consolidated and kept track of through erp.

2.Enhances speed and agility – ability to respond faster to customer needs and deliver service promptly.

3.Details of shipment – an ERP scheduling application is crucial for optimising work hours and properly utilising resources. This will allow tracking of order details anytime, anywhere.

Every export company should own 2 things:

  1. An export compliance program.
  2. Export documentation software that standardises the export paperwork.

Both the above credentials can be 

Why should you implement ERP software?

The best reasons to prove the competence of an ERP software specially customised for your export business are:

  • Timely export order entries into the system allows companies to plan out their production or procurement activities well in advance.
  • Single system software  for all departments in the  export house – documentation, post shipment and financial accounting. Companies do not have to manage separate spreadsheets for various activities
  • Flexibility to validate accounting entries with exchange rate present in the Shipping Bill have ensured company accountants to book the exact value of export sales.No money is wasted in exchange of currencies.
  • Auto-computation of fluctuation due to difference in exchange rate’, has reduced significant amounts of time spent on manually calculating the exchange rate and entering it into the system.
  • Tracking of the various export incentives with their values has also become easier since they are being entered as additional information in the shipping bills section.
  • Packing credit availed and it’s utilisation along with balances and interest has become easier to track as they are being tagged with the realisation or discounting of bills
  • Shipment and post shipment statuses such as goods under dispatch, goods in transit come from the ERP itself since various dates such as B/L Date, LR Date, LEO Date are being entered by the customers.
  • Remittance statuses such as documents being sent to the bank, pending negotiation and realization pending are available from the system itself.
  • Various KPIs, BI and MIS available for the management so that they can take quick and effective decisions.

It is thereby proven that an ERP software improves company productivity, by removing the workload of employees due to complete manual processes in Exports and enable a consolidated digital way of working efficiently. 

It is advisable to take a wise step now to reap the benefits in the future.

For further information or queries please feel free to call us at +91 9007026542 or leave a comment below and our experts will get back to you.

Top 5 reasons why your B2B Business Needs an Ecommerce Website.

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This article was published on: 23/11/21 10:21 AM

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Top 5 reasons why your B2B Business Needs an Ecommerce Website.

 

What is B2B eCommerce?

B2B eCommerce refers to online order transactions between two businesses. Orders are processed digitally, buying efficiency is improved for wholesalers, manufacturers, distributors and other types of B2B sellers.

Types of B2B eCommerce are:

  1. B2B2C
  2. Wholesale
  3. Manufacturers
  4. Distributors
  5. Going wholesale from being customer focused

It was not long before that B2B relationships existed on a face-to-face with more of  personal interaction rather than online. Before the advent of eCommerce and digital marketing all businesses were based on a personal level with the customer. While this type of B2B relationship still exists, more companies are looking to eCommerce solutions to increase the ease and transparency when transacting with other businesses or customers. 

According to a study, B2B eCommerce growth shows an upsurge since 2015. The report also suggests that these numbers will continue to climb. With growing numbers like these, it may be time for you to consider building  an eCommerce-enabled website to catch the wave of this digital transformation in B2B commerce. It is advisable to keep up the pace according to the times. Adapting to changes in the market will help your business sustain and be ahead in the market scenario.

I agree it may be overwhelming and intimidating for business owners to find the right time and connection  to jump onto the eCommerce setup. The comfort and security of a successful offline operation keeps many potential entrants out of the B2B eCommerce marketplace. The thought of venturing out into a new game is always threatening. But the challenge here is to come out of the comfort zone and jump into the trends of the latest market. An eCommerce offering can make your business easier to discover and more accessible to a broader pool of potential customers. 

So, why create boundaries or limitations for your business when spreading out your reach can be easily accessed within the comfort of your home or office.

Here are 5 reasons that your business needs to launch eCommerce capabilities.  

1. Makes repeat orders easier and seamless

.As a preferred supplier of your current B2B customers, you’ve earned their repeat business and can count on their sales to generate income. With an online presence, why not make it easier and more seamless for them to buy from you without having to go through the same procedures each time? 

An eCommerce platform allows repeat customers to automatically purchase and re-purchase your products and services speedily, without an extra step of getting in touch with a representative. This saves time for you and your customers.

2. Beats the competitors

In all probability your biggest competitors are already on the online trend, keeping you way behind in the race. Indeed, B2B buyers are increasingly more comfortable with purchasing their products and services online. And as more “digital natives” move into roles where they are making B2B purchase decisions, B2B online shopping will become more commonplace. It is a guarantee that your eCommerce B2B website is a surefire way to future-proof your business. 

3. Data Will Help You create a differentiator 

In the times of clutter, finding a differentiator is a challenge. A new and/or improved eCommerce-enabled website can help you find new opportunities or customers easily. When you create a comprehensive B2B website, you are providing your customers with a more convenient way to research and purchase products. In return, you get a plethora of data about their preferences, what types of information leads them to buy, and more. This information can then be used to guide your marketing strategy for new business, and it can help you streamline and perfect your customer experience so that you are meeting the needs of these B2B buyers. 

For example, if you attach a robust analytics feature to your B2B eCommerce website, you can compile data to help you understand how your customers behave online, and catalog what their unique needs are. This will help you understand the needs of the customer and therefore create a unique, customised product. The saturated business market that you find yourself in may begin to thin out, since you can gain a competitive advantage through your data. 

4. Heightened Customers Expectations 

The concept of B2B ecommerce offers better management of both the suppliers and customers. Going digital means you can leverage software solutions for ecommerce business management. This will show you data about how your customers shop.

You’ll be able to use this information to create better, more personalized shopping experiences for your customers. Essentially, the whole initiative is a win-win for both parties.

Transforming your business through B2B eCommerce and digital marketing will offer your more digitally-minded customers the same type of transactions they are used to in their B2C purchases, while providing them with B2B products and services. 

5. Upgrading your website

Technology never ceases to innovate. Many older B2B websites are not equipped to handle the latest requirements .Regardless of your product offerings, potential customers might pass over your business for another if your website is outdated, lacks functionality and/or mobile-enabled.

While some of these older websites were the backbone of initial B2B processes, many are now challenging to navigate, full of cumbersome forms, and are more hassling. The cost of trying to keep these types of B2B sites up and running in today’s market far outweighs the price for creating a new eCommerce website platform. Other challenges with older sites are that they aren’t typically mobile-enabled, and they cannot support emerging touch points such as chatbots and 360-video, for example. By creating a latest eCommerce website you will be at par with the latest trends of online business. 

The common belief that online ordering is cold.

One of the best ways to make sure a customer doesn’t go to a competitor is by building a long-term, personal relationship with them. This is why so many B2B businesses are family-owned and operated by owners themselves. There’s a personal touch to being one of the family.

Whereas an online store can seem cold in comparison, but it doesn’t have to be. Especially now that Millennials are at the forefront of many B2B buying decisions, buyers are looking for a streamlined digital purchasing experience.

With 24/7 chat technology that can turn an online chat on your store into a text on your phone, the new generation can communicate efficiently and effectively in their preferred communication channel: text, Facebook /Instagram messenger or a variety of other options.

In fact, this type of customer service is not only easy to set up, it is highly desired by customers across the board.

Increasing your speed to respond to a customer is today’s version of quality, face-to-face interactions.

What are you still waiting for? It is time to make the plunge and delve into the nuances of the market and explore new ways to expand your business.

It is  time to move your business into the B2B eCommerce marketplace. Holding back could hold your company back from experiencing an entirely new group of potential buyers and stagnating business growth. Offline businesses may begin to lose their competitive advantage as they continue to rely on older methods, while new entrants and competitors fly past them with more innovative technology and eCommerce platforms. It is time to embrace the change and dive headfirst into B2B eCommerce. Expand smERP is India’s best fit solution for your eCommerce needs.

 

To know more details contact us at +91 9007026542.

Is it the right idea to have existing Accounting software integrate with advanced ERP solutions

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This article was published on: 16/11/21 10:58 AM

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Is it the right idea to have existing Accounting software integrate with advanced ERP solutions

 

The proverb , the more the merrier  might not prove to be true for goal oriented business men, when it comes to picking the best business management solution for a company. However, for some, this could be just as valid as the battle of ERP vs CRM, HRM & Accounting softwares for picking them as a single solution or not always plays a dilemma on the minds of entrepreneurs. This is a confusion that if not addressed correctly might affect the overall business process in the long run.

Initially, you might have felt that your company wouldn’t require the service of a complete ERP solution and thus  you decided to get just CRM, HRM or Accounting as a separate solution. However, after a few months, you started to realize that it is becoming cumbersome to maintain separate solutions for each department of CR, HR & Finance. It is at this juncture that you will feel the need for a fully integrated  Enterprise Resource Planning that can maintain and communicate data inter department.

What happens when you have separate softwares to serve various departments?

For example;

Accounting softwares 

It works as a basic financial accounting system for a company that provides accounting-related information mostly helpful for the future strategy-making for the business. The accounting solution enables tracking of financial data centrally within the international system of multiple languages, organizations, currencies, charts of accounts.The solution also helps in generating general ledger, account payables & receivables of the company transaction. Also when it comes to managing the fixed asset of the enterprise the solution plays a role in maintaining acquisition, depreciation, etc.In many solutions, the functionality also includes a financial process of legal merging of assets, financial status and earning of an association that acts as if it was for a single project. Moreover, it facilitates the opportunity to strategize the commercial parameters of the enterprise. It triggers an early alert in case the influencing factor becomes hard to identify when they become cynical and complicated to analyze.Some popular Accounting softwares are Tally,Zoho,Quickbooks etc

However, can these softwares manage your warehouse or productions or even strategy planning? The answer is No! 

Which One Is Ideal for Your Business?

Both ERP and the single solutions of CRM, HRM & Accounting has its own purpose to serve in business. But it is also essential to understand when and why you should pick one of these solutions for your company. Otherwise, you might just regret your decision in the future.

Choose complete ERP software as a standalone solution when

  • You feel the need for an all-in-one solution to manage the medium to large enterprise with integrated CRM, HRM or Accounting in the same platform
  • You want to reduce the cost of overall business process & optimize revenue
  • Access to CR, HR & Accounting related information at one place is necessary
  • You want a solution that centralizes both front- & back-office business processes
  • A company need to consolidate the given information collected from the different functional human resource, customer management, financial department of the enterprise from its framework of integrated CRM, HRM, and Accounting

Choose CRM, HRM or Accounting as a standalone solution when

  • You feel the need to use any single solution separately at a time to manage the small to medium-sized business with the company
  • You want to enhance your sales, employee satisfaction, account management process individually
  • A company wants its related information to be accessed using each individual solution of the separate module
  • You are required to utilize the solution to conduct front office activities
  • The company needs a collection of data from any single functional module of HR, CR or Accounting at a time.

One Perfect Solution for All Your Business Needs

It is obviously clear by now about the perks of using complete ERP against a single CRM, HRM or Accounting solution. India’s best fit ERP solution Expand smERP  satisfies all your business requirements for the past 17 years in the most prolific way possible enabling you to activate CRM, HRM or Accounting module totally separately. Adopt Expand ERP for 360 degree business management solution which makes success in business easier to achieve.

 

To know more details contact us at +91 9007026542.

Expand Express 2021 | Vol XIX

Newsletter
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This article was published on: 11/11/21 11:50 AM

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Founder’s Note:

Dear Patron,

 

As we all have rejuvenated ourselves from one big festival and are preparing for the next one soon, it is my pleasure to convey my warm wishes to you and your family for a healthy and prosperous year ahead. At this juncture, the fear of falling prey again to the pandemic is still prevalent in the back of our minds. However, with an altered mindset for work as well as our perceptions of life now, we know that the show must go on. All our patrons who have adapted to the change in methods of doing business and adopted digitisation are already on their upsurge of renewed profits. It makes team Expand proud to be a part of this journey of recovery for most of your businesses.

In this edition of Expand Express I would like to highlight the success rate of garment manufacturers who have adopted a best fit ERP software to manage the ever changing industry.Besides this, I have also curated an article on the benefits of integrating your existing accounting software with your advanced ERP system.This will throw some light on the unique features and benefits of an advanced ERP solution and how it helps entrepreneurs like you to curtail daily operational challenges resulting in profits and success.

vtalk

Team Expand wishes you and your team a very blessed season’s greetings. This is a reminder for you to know that we are a part of your growth. We wish the very best for your organisation as your success is our victory.Our team gets motivation when you achieve desired results and inspires us to aim higher.

 

Warm Regards

Vineet Bansal

CEO, eDominer Technologies

The garment industry has been greatly challenged by the growth of a global market of international brands as well as E-Commerce over the last five years. It is a known saying that “Change is the only constant!” Thus the only solution is to adapt to the change and embrace the positives of the current situation.

The solution for the sustenance of the manufacturers in the garment industry has been researched and tested.  It is to meet the updated operations, enhancing supply-chain and distribution to meet customer demand. A best fit Apparel ERP is used on a greater scale to get detailed data of orders online, form query responses, effective control and plan and schedule orders accurately. 

ERP is used in the apparel industry for a garment manufacturing process, design, material checking, shipping, and distribution. A fashion ERP provides a centralized database of all the business processes. 

Managing an apparel industry without an ERP Software is close to a disaster. An ERP software for manufacturers in the Apparel industry helps the organization anticipate user demand patterns, wishlists, and clients requirements. As per the latest research of the Apparel Business and ERP Software Industry market provides a comprehensive assessment of the key factors driving the industry growth. It also lists out the existing challenges and opportunities crucial to business expansion in the future.  It provides an economically wide database to enhance business management and boasts a dedicated section for considering leading players. So, the impact of the pandemic is covered too.

Why Does The Fashion Industry Need a Apparel Management Software?

Market dynamics shift on a daily basis, heightening rivalry among clothing brands to attract more customers. Consumers are more drawn to a wide range of options. As a result, if they go shopping, they will look for exclusive deals and schemes. Apparel management software allows you to control costs and losses by organizing inventory. Based on the sales data, you can categorize the least and most common products. It will help you make better choices such as placing new orders, introducing discount plans, and so on.

Apparel software is suitable for large, medium, as well as small apparel brands that want to upgrade their operations and grow fast in the lifestyle market. You get a comprehensive, cost-effective, and adaptable software solution tailored to your company’s requirements. When all on your premises are connected, you will be able to retain more customers. It will allow you to respond to customer inquiries more effectively, increasing your growth revenues.

Top reasons to adopt an Apparel ERP software

A best fit ERP software in the apparel industry offers businesses several benefits in monitoring operations, helping the organizations to plan effectively and work on a unified, seamless platform for greater operational efficiency.

Planning Inventory Management

It lets the business comprehend the basic ideas of cost while maintaining the right mix of merchandise across the organization. Monitoring the state of stock/inventory of the Organization gives a proper picture of the status of the raw material and makes planning and management easier.

Improves Production Planning

With an advanced ERP software,  organizations can draw the best and most cost-effective schedule in planning and control of production.

Increases Accessibility

Digital transformation has made it necessary for key personnel to have access to reports and information 24/7, remotely, from any authorized device.

Enhances Time Management

To fulfil the purchase orders quickly while allocating the right person the right work, ERP software makes it possible. It helps in reducing errors, redundant data entry and other problematic activities. With an ERP software, real-time tracking and reporting of resources at the warehouse, shop floor, procurement, shipment is also possible.

A Hub of Multiple Functions

The dashboard offers a complete view of every department or operation which includes Production, Supply Chain Planning, RCCP, QC, Warehouse Management, Finance, HR, Sales, Marketing, Shop Floor Control.

Accuracy

ERP facilitates prompt decision making, productivity and improves the connection between vendors, customers, and coworkers by offering the correct information to the authorized users who work from anywhere in the world.

Enables inter -Department Collaboration

ERP software for the apparel industry includes a plethora of features. The main benefit of this integrated platform is that it allows employees from any department to use the same system, making data entry, editing, accessing, and transferring information much easier and faster.Thus it promotes better networking and communication among team members and departments, allowing for uninterrupted services during operational hours.

Streamlines business operations

When important business data is spread across multiple platforms, it is difficult to access when needed. As a result, apparel companies frequently find ERP systems useful in consolidating data into a single platform and retrieving information in a common usable format much easier. Furthermore, an apparel ERP system enables role-based permissions, allowing  control  information employees have access to and grant permission only to the appropriate personnel.

Indian Textile Industry is one of the largest industries in India. It is the second largest in terms of providing employment opportunities to more than 35 million people in the country. It contributes to 7% of industrial output in terms of value, 2% of India’s GDP and to 15% of the country’s export earnings. It is quite overwhelming to realize that your textile company contributes to this statistics, knowing how arduous it is to manage a large manufacturing company. To make your business processing simpler, adopt our cutting edge ERP Solution on cloud and let the software manage your business processings.

The proverb , the more the merrier  might not prove to be true for goal oriented business men, when it comes to picking the best business management solution for a company. However, for some, this could be just as valid as the battle of ERP vs CRM, HRM & Accounting softwares for picking them as a single solution or not always plays a dilemma on the minds of entrepreneurs.This is a confusion that if not addressed correctly might affect the overall business process in the long run.

Initially, you might have felt that your company wouldn’t require the service of a complete ERP solution and thus  you decided to get just CRM, HRM or Accounting as a separate solution. However,after a few months, you started to realize that it is becoming cumbersome to maintain separate solutions for each department of CR, HR & Finance. It is at this juncture that you will feel the need for a fully integrated  Enterprise Resource Planning that can maintain and communicate data inter department.

What happens when you have separate softwares to serve various departments?

For example;

Accounting Software 

It works as a basic financial accounting system for a company that provides accounting-related information mostly helpful for the future strategy-making for the business. The accounting solution enables tracking of financial data centrally within the international system of multiple languages, organizations, currencies, charts of accounts.The solution also helps in generating general ledger, account payables & receivables of the company transaction. Also when it comes to managing the fixed asset of the enterprise the solution plays a role in maintaining acquisition, depreciation, etc.In many solutions, the functionality also includes a financial process of legal merging of assets, financial status and earning of an association that acts as if it was for a single project. Moreover, it facilitates the opportunity to strategize the commercial parameters of the enterprise. It triggers an early alert in case the influencing factor becomes hard to identify when they become cynical and complicated to analyze.Some popular Accounting softwares are Tally,Zoho,Quickbooks etc

However, can these softwares manage your warehouse or productions or even strategy planning? The answer is No! 

Which One Is Ideal for Your Business?

Both ERP and the single solutions of CRM, HRM & Accounting has its own purpose to serve in business. But it is also essential to understand when and why you should pick one of these solutions for your company. Otherwise, you might just regret your decision in the future.

Choose complete ERP software as a standalone solution when

  • You feel the need for an all-in-one solution to manage the medium to large enterprise with integrated CRM, HRM or Accounting in the same platform
  • You want to reduce the cost of overall business process & optimize revenue
  • Access to CR, HR & Accounting related information at one place is necessary
  • You want a solution that centralizes both front- & back-office business processes
  • A company need to consolidate the given information collected from the different functional human resource, customer management, financial department of the enterprise from its framework of integrated CRM, HRM, and Accounting

Choose CRM, HRM or Accounting as a standalone solution when

  • You feel the need to use any single solution separately at a time to manage the small to medium-sized business with the company
  • You want to enhance your sales, employee satisfaction, account management process individually
  • A company wants its related information to be accessed using each individual solution of the separate module
  • You are required to utilize the solution to conduct front office activities
  • The company needs a collection of data from any single functional module of HR, CR or Accounting at a time.

One Perfect Solution for All Your Business Needs

It is obviously clear by now about the perks of using one complete ERP against a single CRM, HRM or Accounting solution.

1. Starting an office over the web-

The medical wire business within Sandvik was looking to expand operations in the US, but the pandemic hindered our search for a new site. So, they did it entirely virtual instead.Biotech is booming right now, and many companies are looking to expand into new locations and markets. Certainly, this was the case for Sandvik medical wire business. The high-tech business segment, which develops precision wires and wire-based components for various fields of medical technology, was looking to expand in the US before the Covid-19 pandemic hit.

2. 5G is finally here – This is what you need to know

The 5th generation of mobile networks, 5G is the evolution of the 4G networks of today. It has been created to meet and surpass the massive growth of data and connectivity of IoT, changing today’s reality and paving the way for tomorrow.Along with instantaneously connecting billions of devices and its exponentially faster connection speeds, capacity, and communication response times (known as latency). 5G will make an astonishing range of innovative new products and services possible.