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Answer You - The Top Six Reasons to Buy Rather Than Build an Inventory Management Solution
Chemistry, compatibility, significant, and long-term connections. These are the words you would hear from a person out looking for love. Mainly pragmatic, these people are hesitant to try dating because they think that they would waste their time if they ended with someone whom they had no common interests. They are also reluctant to try online dating services because usually, our judgment can be clouded with biases when dealing with a person who always puts his best foot forward. Besides, there is no certain way of being sure that your date is really what they claim
1. Third-party objectivity. A critical concern for trading partners is that of data confidentiality and security. Most trading partners are leery of exchanging critical and confidential a
When designing a new marketing plan involving promotional products or gifts, it’s important to plan out a strategy ahead of time. All too often, a business owner or marketing department latches on to the idea of giving away a gift as a promotion, but fails to do the planning that would build the promotional strategy from a nice idea into a marketing powerhouse. Before you run right out to purchase nifty printed pens or other promotional gifts with your logo on them, take a few minutes to work out an effective marketing strategy that incorporates the promotional items th
The issues that companies face when they decide to build a solution in house are numerous: Scarce development resources, project cost overruns, delivery delays, unexpected technical issues, long-term maintenance issues.
For these reasons, you should consider purchasing hosted, flexible, "out-of-the-box" vendor managed inventory (VMI) and web-based inventory solutions that can be running in a matter of days -- rather than months -- all at a fixed monthly price - with no delays, low risk and a lower total cost of ownership.
At Invendia we've often seen companies struggle with the decision to buy a technology or to build that solution in-house. The decision criteria typically are:
- • Availability of qualified development resources
- • Long-term maintenance staffing
- • Implementation time and costs
- • Project risk
- • Process understanding
- • 3rd party objectivity
So, what are the top six reasons to buy rather than build an inventory management solution?
6. Availability of qualified development resources. If you have available resources that are experienced in developing web-based, distributed solutions then you should consider building your own solution in house. In addition, your staff should ideally be knowledgeable about leveraging development standards such as J2EE or .NET. If not, you should source an off-the-shelf solution that can readily integrate with your existing applications.
5. Long term maintenance staffing. Once you have a solution, how are you going to keep it current, from both a technology and from a process point-of-view? For example, in the last few years RFID, collaboration, wireless and countless other developments have forced companies to update their processes. With ever increasing innovations, you need to ensure that you are staffed to manage not only the system upgrades but any errors that you may discover. If you either don't have the staffing for this or don't want the headache, then you should consider a "bought and maintained" solution.
4. Implementation time and cost. How quickly do you need a solution? If you have ample time to scope your project, build a project plan, free-up resources, develop and test the application, then you should consider building the solution. Furthermore, do you have the budget to pull off an in-house project? What are the opportunity costs? What is your company's track record of getting IT projects completed on-time and on-budget?
3. Project risk. One major reason that organizations build in-house is that they want to build expertise in an emerging technology. Does this meet your organization's business goals? What if you find that the learning curve is long and steeper than you anticipated? Are you willing to take that risk? When you are scoping your project, have you considered all of the issues? Are you willing to stick to your original scope when your users demand new features (scope creep)?
If you cannot mitigate these issues, then you should strongly consider a fixed price, packaged solution.
2. Process understanding. Collaborative inventory management(VMI) processes are complex and varied as your trading partner needs. If you have many diverse trading partners (or may have in the future), building your own solution may not be a great idea (see "long term maintenance" above). Additionally, your trading partners may want to extend the use of the collaboration solution to their trading partners. Can they do this? Only if you are willing to get into the solution environment. This is especially important as your trading partners start to get more and more benefit from these solutions and may force you to switch to another solution.
1. Third-party objectivity. A critical concern for trading partners is that of data confidentiality and security. Most trading partners are leery of exchanging critical and confidential a
RR Donnelley, the largest Commercial Printer in the world, was and is a great company to work for. My career was going just great – I had gained a reputation as a Troubleshooter and Turnaround Manager, perhaps also some would say a bit of a Maverick. Whilst I provided the drive and hands-on change management – Donnelley supplied the comfort of having a multi-billion dollar corporation behind me. Specialist staff, experienced operations people and top-class executives always available to help when necessary. My projects had included closing down a disastrous union-domina
- • Long-term maintenance staffing
- • Implementation time and costs
- • Project risk
- • Process understanding
- • 3rd party objectivity
So, what are the top six reasons to buy rather than build an inventory management solution?
6. Availability of qualified development resources. If you have available resources that are experienced in developing web-based, distributed solutions then you should consider building your own solution in house. In addition, your staff should ideally be knowledgeable about leveraging development standards such as J2EE or .NET. If not, you should source an off-the-shelf solution that can readily integrate with your existing applications.
5. Long term maintenance staffing. Once you have a solution, how are you going to keep it current, from both a technology and from a process point-of-view? For example, in the last few years RFID, collaboration, wireless and countless other developments have forced companies to update their processes. With ever increasing innovations, you need to ensure that you are staffed to manage not only the system upgrades but any errors that you may discover. If you either don't have the staffing for this or don't want the headache, then you should consider a "bought and maintained" solution.
4. Implementation time and cost. How quickly do you need a solution? If you have ample time to scope your project, build a project plan, free-up resources, develop and test the application, then you should consider building the solution. Furthermore, do you have the budget to pull off an in-house project? What are the opportunity costs? What is your company's track record of getting IT projects completed on-time and on-budget?
3. Project risk. One major reason that organizations build in-house is that they want to build expertise in an emerging technology. Does this meet your organization's business goals? What if you find that the learning curve is long and steeper than you anticipated? Are you willing to take that risk? When you are scoping your project, have you considered all of the issues? Are you willing to stick to your original scope when your users demand new features (scope creep)?
If you cannot mitigate these issues, then you should strongly consider a fixed price, packaged solution.
2. Process understanding. Collaborative inventory management(VMI) processes are complex and varied as your trading partner needs. If you have many diverse trading partners (or may have in the future), building your own solution may not be a great idea (see "long term maintenance" above). Additionally, your trading partners may want to extend the use of the collaboration solution to their trading partners. Can they do this? Only if you are willing to get into the solution environment. This is especially important as your trading partners start to get more and more benefit from these solutions and may force you to switch to another solution.
1. Third-party objectivity. A critical concern for trading partners is that of data confidentiality and security. Most trading partners are leery of exchanging critical and confidential a
Donating to charity is rewarding and gratifying. From world-changing events such as the 9/11 terrorism to hurricane Katrina, we have opened our hearts and checkbooks to aid the victim’s families with unprecedented giving. As each new tragedy unfolds, we still are able dig even deeper. This is also true on a local level. The neighborhood soccer, little league, school drama club and religious groups have always received generous support in their quest to raise funds for trips, uniforms, and various other projects.The giver needs to understand where the money is goi
4. Implementation time and cost. How quickly do you need a solution? If you have ample time to scope your project, build a project plan, free-up resources, develop and test the application, then you should consider building the solution. Furthermore, do you have the budget to pull off an in-house project? What are the opportunity costs? What is your company's track record of getting IT projects completed on-time and on-budget?
3. Project risk. One major reason that organizations build in-house is that they want to build expertise in an emerging technology. Does this meet your organization's business goals? What if you find that the learning curve is long and steeper than you anticipated? Are you willing to take that risk? When you are scoping your project, have you considered all of the issues? Are you willing to stick to your original scope when your users demand new features (scope creep)?
If you cannot mitigate these issues, then you should strongly consider a fixed price, packaged solution.
2. Process understanding. Collaborative inventory management(VMI) processes are complex and varied as your trading partner needs. If you have many diverse trading partners (or may have in the future), building your own solution may not be a great idea (see "long term maintenance" above). Additionally, your trading partners may want to extend the use of the collaboration solution to their trading partners. Can they do this? Only if you are willing to get into the solution environment. This is especially important as your trading partners start to get more and more benefit from these solutions and may force you to switch to another solution.
1. Third-party objectivity. A critical concern for trading partners is that of data confidentiality and security. Most trading partners are leery of exchanging critical and confidential a
At the risk of appearing flip or disrespectful, I can tell you in just one seven-letter word what it takes to build a successful business. The word is “service.” Service to customers is what ultimately determines success or failure, whether in the service industry or in any other industry or profession.If you want your business to be successful, you must resolve to deliver the best possible service to your customers. You must do everything you can to please them, protect them, enrich them, and advantage them. If you consistently do this, you will not fail. You wi
3. Project risk. One major reason that organizations build in-house is that they want to build expertise in an emerging technology. Does this meet your organization's business goals? What if you find that the learning curve is long and steeper than you anticipated? Are you willing to take that risk? When you are scoping your project, have you considered all of the issues? Are you willing to stick to your original scope when your users demand new features (scope creep)?
If you cannot mitigate these issues, then you should strongly consider a fixed price, packaged solution.
2. Process understanding. Collaborative inventory management(VMI) processes are complex and varied as your trading partner needs. If you have many diverse trading partners (or may have in the future), building your own solution may not be a great idea (see "long term maintenance" above). Additionally, your trading partners may want to extend the use of the collaboration solution to their trading partners. Can they do this? Only if you are willing to get into the solution environment. This is especially important as your trading partners start to get more and more benefit from these solutions and may force you to switch to another solution.
1. Third-party objectivity. A critical concern for trading partners is that of data confidentiality and security. Most trading partners are leery of exchanging critical and confidential a
"Time is our most valuable asset, yet we tend to waste it, kill it, and spend it rather than invest it." So says business author and speaker, Jim Rohn.Whether you're looking for a new job or looking to get promoted in your current job, ask yourself this: What did you do with your time yesterday? Did you waste it, kill it, spend it, or invest it?If you're not happy with your answer, read on to learn four ways to invest your time today, to get hired faster and get ahead on the job tomorrow.1) First, track your time for one weekBefore you can us
1. Third-party objectivity. A critical concern for trading partners is that of data confidentiality and security. Most trading partners are leery of exchanging critical and confidential and feel more comfortable with a third party managing the data. Is this a critical issue for your organization?
Summary
In the nascent days of any technology, be it the car or software, many companies think that they can build the better mousetrap. However, as the technology evolves and becomes more complete, there are significant barriers to entry. As the collaborative inventory management field continues to evolve, there are enough reasons to give pause before deciding to build a solution in-house.
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