Top 10 Tips to Improve Your Company's Supply Chain Management

Top 10 Tips Webinar Series

Top 10 Tips to Improve Your Company's Supply Chain Management

Tuesday, October 6th 2:00PM – 2:30PM ET

Top Ten Tips is a series of practical, fact-based webinars using the Path To Success methodology developed at IntellaCore. The webinars are short, hard-hitting, and are always combined with a whitepaper. Each webinar breaks down an important way that a company can increase revenue, reduce costs, and become a sustainable, competitive business.

Companies are always focused on cutting costs, especially now in this economy. The supply chain is one of the best places for businesses to cut costs. When taking a closer look at the supply chain, companies often find that they can improve their efficiency as well. It is not always who can reduce costs the most, but it is about who has the most flexibility when it comes to their supply chain. Attend this webinar to learn how your company can analyze its supply chain to cut costs and become more efficient.

The next Top Ten Tips webinar will be held on Tuesday, October 6th at 2:00 PM EST. The topic will be Top 10 Tips to Improve Your Company's Supply Chain Management. Click here to register. Please enter BLOG in the Invitation Code text box.

The top ten tips you will learn about in the webinar are:

1. Analyze your website's current traffic
2. Research your target audience, and develop relevant keywords
3. Review your website design if needed and focus on delivering relevant information to the identified audiences
4. Establish an online strategy
5. Keep the design of your website simple
6. Search Engine Optimize your website
7. Ask other relevant sites in your network to link to yours.
8. Try to create buzz around your products and company by using social media daily
9. Advertise
10. Add your website address to your packaged products and business cards

While there are many international experts or technology experts, we are both. IntellaCore has a unique point of view because we are positioned at the critical crossroad where very few are -- that place where the global economy meets the Internet. Based on decades of experience in both International business and Internet-based activity, Path to Success aligns technology to the business plan, internally transforms the operations of the business, and expands their market presence into new domestic, international, and virtual markets.

What Will Be the Focus of the G20 Summit?

The City of Pittsburgh is making its final preparations before over 20 of the world's leaders converge on the city on Thursday and Friday. Many of the people who live and work in the city are thinking more about the travel restrictions and protests than the actual summit, or what will be discussed during the meeting. So, what will the G20 members be meeting about later this week?

The main topic that the G20 members will discuss is the worldwide economic situation, and how they can bring balance to the global economy. In a document that outlines the U.S. position on this topic, the US believes that exporters (like China, Germany, and Japan) should consume more, while countries with a lot of debt (like the US) should boost their savings. The document claims that "The world will face anemic growth if adjustments in one part of the global economy are not matched by offsetting adjustments in other parts." The US also imagines that the International Monetary Fund will have a greater hand in policy recommendations and assessments.

This kind of approach makes sense to us at IntellaCore. The world is no longer run by only a handful of large countries. Instead, as countries develop, they are gaining even footing with the once dominant countries. Many countries should be included in the solution to the problem.

Indian Prime Minister Manmohan Singh is expected to push for a larger role for developing countries in the global economy. He is also expected to restate India's position against all forms of protectionism, including trade, goods and services, and investment.

There will also be some focus on tightening financial regulations. There will be proposals to restrain bank executive pay and tightening the standards in the banking system to prevent another economic meltdown. Recently French President Nicolas Sarkozy has called to limit banker bonuses, and has actually promised to walk out of the summit if there is no agreement to cap executive pay and compensation.

But with all of this hype that we are experiencing in Pittsburgh, will anything actually come of the summit? The G20 has no real lawmaking power, so any changes that come from this summit will be the result of the lawmaking authorities for each of the countries. Some experts who have covered meetings like this in the past state that there will be a lot of self-congratulation, and the participants will say it was a great success. If any changes do come about because of this summit, don't expect anything to really start until November.

Surviving the Recession to Become Globally Competitive

In this week's newsletter, we highlight some of the things businesses are doing to survive the recession. The highlighted companies in the stories are real businesses that are implementing various strategies in order to survive these turbulent times.

The good news is that businesses have many options to improve their business. The hard part is determining which option is best for your business. Choosing the correct route will be different for every business. However, if you choose the right strategy for your business, you may be able to not only survive the recession, but also become competitive in a global economy.

Below are some of the many ways businesses can improve their business to become globally competitive:

Use the Internet
The Internet is the easiest and fastest way to reach a worldwide audience online. Because of the ubiquity of technology in the marketplace, every business should have a website and an online sales strategy.

Pay Attention to International Market Conditions and Learn to Adapt to Them
If you know what current market conditions are, and can forecast future market conditions, you can formulate better strategies for your business.

Diversify Your Business' Supply Chain
Have any of your suppliers simply not been able to supply your business with raw materials before? What did that do to your production? It is always good to have a relationship with other suppliers if a situation like this ever arises.

Enter New Markets
Whether you enter new markets domestically or internationally, you are diversifying your sources of sales. That means if one market experiences a decline in growth, your business' overall sales will not suffer. You are not "putting all of your eggs into one basket."

Focus on Customer Service
Your customers may be the most important part of your business. Focus on them, and make sure they know that you genuinely value their business.

Pay Attention to Emerging Markets
Many experts claim that emerging markets like India, China, and Brazil are going to grow faster than developed markets once the recession is over. Could your product be in demand in one of those markets?

Increase Marketing
Many companies are cutting their marketing budgets now, and consumers may notice your products because of this.

Plan for After the Recession
If you have the resources, focus on building your business to gain competitive control in your industry, or in the markets your business competes in.

Click the picture bellow to read more about these examples in the latest edition of Intelligent World.

Webinar: Top 10 Tips for Expanding Your Business into New Markets

Top 10 Tips Webinar Series

Tuesday, August 18th 2:00PM – 2:30PM EDT

Top Ten Tips is a series of practical, fact-based webinars using the Path To Success methodology developed at IntellaCore. The webinars are short, hard-hitting, and are always combined with a whitepaper. Each webinar breaks down an important way that a company can increase revenue, reduce costs, and become a sustainable, competitive business.

The challenges that come with expanding your business domestically and internationally are not as great as they once were. You no longer have to do business only within your regional box. You can easily find markets nationally and internationally that have a need for your products. Attend this webinar to learn how you can conduct market research, develop market entry strategies, evaluate prospects, and learn to communicate over distances. This webinar teaches IntellaCore's perspective that it is global, Internet economy, and as such Internet tools and activities make it easier, cheaper, and less complicated to expand your business.

The next Top Ten Tips webinar will be held on Tuesday, August 18th at 2:00 PM EST. The topic will be Top 10 Tips for Expanding Your Business into New Markets. Click here to register. Please enter BLOG in the Invitation Code text box.

The Top 10 Tips you will learn more about in the webinar are:

1. Research specific markets

2. Research regulations and fees

3. Finalize potential markets to enter

4. Develop a pricing strategy

5. Develop a localization strategy

6. Use virtual marketing to establish a presence in the new markets

7. Finalize market entry strategy

8. Find buyers and distributors, and build the relationship

9. Develop factors to consider when choosing a foreign representative or distributor

10. Strategize how to communicate with foreign companies who submit inquiries, and handle requests for information and price quotes

Click here to join the webinar.

While there are many international experts or technology experts, we are both. IntellaCore has a unique point of view because we are positioned at the critical crossroad where very few are -- that place where the global economy meets the Internet. Based on decades of experience in both International business and Internet-based activity, Path to Success aligns technology to the business plan, internally transforms the operations of the business, and expands their market presence into new domestic, international, and virtual markets.

G-20 Preparations

The G-20 summit is about a month and a half away, and the City of Pittsburgh is certainly preparing for the meeting. Two of the major things in the news about the summit is the focus on preparing the police force to handle situations that come with events like these, and the beautification of the city.

Although it is not being reported, we at IntellaCore hope that the business owners in Pittsburgh and other areas like Pittsburgh can realize that there is more to their business environment than their geographic region. We hope that when people see the various world leaders from the 20+ countries on the news or in the papers, they will think about expanding their business into one of those countries, or simply think about becoming globally competitive. We are now living in a flat world. The term "flat world" simply means that a company can no longer 'hide"in the hills and the valleys of its regional market. Every company operates in the global, Internet marketplace whether they operate domestically, internationally, or virtually on the Internet.

Many businesses in this region understand these ideas. In fact, within the Pittsburgh region it is estimated that international business accounts for an estimated 130,000 jobs, and almost 80 percent of the public companies in the region operate or conduct business internationally. Equally as impressive, the delegates from the G-20 nations represent 90% of global GNP, 80% of world trade (including EU intra-trade), and 2/3 of the world's population.

We hope that everyone enjoyed the webinar. We hope that you learned that International business is not as intimidating as you might have thought before. Be sure to join our next webinar if you want to learn more about international business, or if you just want to become globally competitive within your own region - the details are below.

Top 10 Tips for Expanding Your Business into New Markets
Tuesday, August 18th 2:00PM – 2:30PM EDT

Top Ten Tips is a series of practical, fact-based webinars using the Path To Success methodology developed at IntellaCore. The webinars are short, hard-hitting, and are always combined with a whitepaper. Each webinar breaks down an important way that a company can increase revenue, reduce costs, and become a sustainable, competitive business.

The challenges that come with expanding your business domestically and internationally are not as great as they once were. You no longer have to do business only within your regional box. You can easily find markets nationally and internationally that have a need for your products. Attend this webinar to learn how you can conduct market research, develop market entry strategies, evaluate prospects, and learn to communicate over distances. This webinar teaches IntellaCore's perspective that it is global, Internet economy, and as such Internet tools and activities make it easier, cheaper, and less complicated to expand your business.

Click here to join.

The Top 10 Tips you will learn more about in the webinar are:
1. Research specific markets
2. Research regulations and fees
3. Finalize potential markets to enter
4. Develop a pricing strategy
5. Develop a localization strategy
6. Use virtual marketing to establish a presence in the new markets
7. Finalize market entry strategy
8. Find buyers and distributors, and build the relationship
9. Develop factors to consider when choosing a foreign representative or distributor
10. Strategize how to communicate with foreign companies who submit inquiries, and handle requests for information and price quotes

Click here to join.

While there are many international experts or technology experts, we are both. IntellaCore has a unique point of view because we are positioned at the critical crossroad where very few are -- that place where the global economy meets the Internet. Based on decades of experience in both International business and Internet-based activity, Path to Success aligns technology to the business plan, internally transforms the operations of the business, and expands their market presence into new domestic, international, and virtual markets.

How Do You Know Your Business is Ready to Export?

There are many reasons why businesses decide to begin doing business internationally. Some include increasing your company's sales and profit, making your company more competitive, reducing reliance on domestic market. It can also include reasons like expanding the business, gaining credibility for the business, or just because you desire a change for your business.

Every business is going to select at least one of these motivations. But before you make any commitments, you want to make sure that exporting fits into your business. Once you have made the decision that exporting does indeed fit into your business' mission and vision, there are several other areas of your business that you should consider. These areas include:

Management Commitment - Motivating your company's management is one of the keys to success. If your management is receptive to the idea, the whole process will be much easier for everyone involved.

Export Resources - There will be a greater demand when you are exporting. Can your company keep up with the demand and be able to produce, distribute, and sell? The benefits of exporting are substantial, but the costs and investment into exporting can be significant. Are you prepared to wait up to a year before you see any profits from your exporting activities?

Product Aspects - Could your products be competitive or be in demand internationally? If so, will you have to modify them in any way to make them more competitive?

International Market Intelligence - You will need some amount of market intelligence before you enter a market. Research health, electrical, and technical standards and cultural preferences for ideas on how you may have to adapt your products. Do any of your employees have international experience? Talk with them to see if there might be a demand in their market of expertise.

These topics above are just a brief summary of the topics we will cover in tomorrow's Top 10 Tips webinar. Click here to learn more about the webinar and to sign up for it.

Can the US stay globally competitive?

Pop quiz: which country was the richest in the world, had the largest military, was the center of world business and finance, had the strongest education system, was the world's center of innovation and invention, had a currency that was the world's standard of value, and had the highest standard of living?

It was England. In 1900.

One thing that the current economic conditions are telling us is that the US and US companies may not be as competitive as they need to be. Over the past few weeks we have seen stories that claim that the US is falling behind other countries in terms of innovation, like this recent article from The Economist. As it states in the article, emerging markets are making steady gains, while the US has dropped one spot. The rankings, which measure innovation through the number of patents granted and factors that help or hinder the ability to innovate, are a sign that other countries are catching up to the US. The big question is: will the US go through the same changes that England did?

Innovation and technology is one area where the United States can grow and expand. Competition is always good for the global market. Competition breeds innovation, which helps the market to continually evolve. Businesses, especially businesses in the US, need to realize that they are competing on a global front, not just domestically.

Businesses need to focus on technology and innovation in order to have sustained global competitiveness. One example of a company experiencing hardships right now is GM. We all heard the joke "Government Motors". This is because the U.S Gov. loaned them billions of dollars. We can argue back and forth if this was the correct thing to do or not, but the point was that GM failed to be competitive globally when it was facing new threats from foreign auto makers. There were many articles about the company's emergence from bankruptcy last week. Many people say that one of GM's biggest challenges is to build cars that people want to drive. The company is also competing against various foreign car companies -- companies that consumers feel more confident in. It will be interesting to see what GM is able to do against this competition.

Can GM build customer confidence and innovate in order to become more competitive in the US and throughout the world? Can other US companies focus their business on innovation to become more globally competitive?

So what can the US, and other countries that need to become more globally competitive do? As stated in one of the articles we highlight in this month's Intelligent World newsletter, the countries can develop an innovation policy. Many leading Asian nations including Japan, South Korea, Singapore, and China have explicit national innovation policies that include generous tax incentives and direct funding for innovation. These incentives could be the thing that helps the economy to recover more quickly and not become the England of 1900.

Examples of Global Competitiveness

We are at a time in history where everything is changing quickly. Of course, that could be said of any point in history as people live through it, but it really feels as if the decisions people are making today will affect many people in the future. Unemployment is high. Consumer spending is down. We are in a recession, and the timeline for recovery is questionable.

But there is hope. Many businesses are focused on becoming more competitive in their market, and on a national and international scale because they realize that the world is becoming a smaller place. Below are some examples of change helping, or forcing, companies to compete in the global, Internet economy.

Technology is changing rapidly, allowing us to connect and collaborate with ease. Even the way we connect with people is changing. Professionals are using Twitter and LinkedIn to network with others in their field. The continued spread of technology will only promote online collaboration.

A report about household broadband use highlighted the importance of the Internet in everyday life. The report claims that 640 million households will have broadband by 2013. More intriguing, the Asia-Pacific market will account for 49% of it.

Because of the changes in technology and the global economy, companies are modifying the way they do business. Some are changing because they have to. Others are changing to adapt with the change.

The New York Times asked their readers if they would be willing to pay for online content. This might be a good way to save this newspaper, and other newspapers worldwide.

There have been many articles about GM and its emergence from bankruptcy this week. Many people are saying that the hard part is actually beginning for GM now because GM has to design cars that people will want to drive, and the company's reputation could hurt it. What can GM do to compete again? Some are suggesting that GM looks to its competitors.

It might have been easier and less expensive for carmakers and newspapers to more fully understand their market and the external forces influencing them.

IBM recently looked at midsized companies and found that, around the world, midsized companies are working smarter and leaner in terms of IT. The highest-priority tech solution is information management, and the most pressing business challenges include increasing efficiency and productivity, improving customer care, and better use of information.

Also in the news this week is an article that claims that exporters of service are doing less badly than traders in goods. The article also claims that, "Nevertheless, those who sell services to rich countries do face increasing pressure to quote lower prices, and new information-technology development contracts, which are discretionary, are getting harder to come by."

Business owners should try to look into the future. This does not mean peering into a crystal ball. Instead, look at the news for trends, and imagine how they might affect your business. And then try to do something about it. Become the leader of change.

We cannot overlook the growing importance of developing countries in the global economy. Just this week, many other countries outside of the Group of 8 attended the G-8 meeting in Italy. In a global, Internet economy that is increasingly driven by developing countries, some are saying that 8 is not enough.

In another article, an economist from the World Bank claimed that low-income countries need to make small, local banks the mainstay of their financial systems. How will this affect US banks?

Gas prices are low now, but what level will they be at in the future? Could they reach $20.00 per gallon? How will that change your business?

These stories are just some of the things that we notice in the news, but you must pay attention to the news and look for things that can affect your business specifically. Is there a new law that will pass in a country in which your company does business, or is there a new regulation that will affect your company's service? If you are proactive, then the news is not as bleak.

What is Global Competitiveness?

Unemployment is up, profits are down, costs are rising, and the future is uncertain. How can companies succeed in this economy? One option that companies have is to focus on becoming globally competitive.

Globally competitive companies use an extensive knowledge base, a global human network, and Internet technology to succeed against international competition (regionally, nationally, or internationally) -- without the use of significant capital investment, travel or even an international presence.

You may not have to spend much time organizing a knowledge base to make it be useful for you. In fact, you may have much of it already in place. Items in a knowledge base could be past sales data, customer survey results, information on public websites, and experts in your network. The key to using the knowledge base effectively is to ask the right questions of it.

Business owners interested in becoming globally competitive should focus on building relationships abroad with many people you come into contact with. Even if a contact cannot help you to distribute your product in their country or region, they may know someone who can help.

There is no denying that technology has spread across the globe. Because of this, technology has made the world a smaller place. With webinars, conference calling, and video conferencing, people no longer have to travel to build relationships. Additionally, once the relationships have been built and companies are working together, the businesses can easily collaborate. A business in the US can talk to a supplier in Brazil, and they can order products and resolve problems in hours instead of days. We will give real-life examples of some of these collaboration tools in the coming weeks.

It is important to remember that business owners do not need to travel or invest in physical locations to become globally competitive. As the use of Internet technology increases, a company's website is becoming its virtual storefront. Brick and mortar locations in various countries is no longer a requirement to doing business internationally.

At the same time, being globally competitive does not mean "Going global" and not focusing on your local market. Nor does it require much work to be outsourced. Instead, a globally competitive company can innovate, operate, and grow in a manner that strengthens a local business community, creates viable jobs, and brings confidence to business owners and regional leadership.