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Vendor Risk Management

May 3rd, 2023
by Tony.
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Many organisations have fallen victim to unforeseen supply-chain disruptions and vulnerabilities in the last decade. If a business can identify and mitigate Vendor risks effectively, it can ensure a smooth supply-chain management system and evade substantial losses that such events may trigger. This article will debate how a business can identify Vendor risks and alleviate their effects before any damage is done.


What is Vendor Risk Management?
Vendor risk management is a methodical approach to identifying, assessing, and mitigating any risk to supply chain management that may arise from the actions of the Vendor.


How to identify Vendor Risks
If an organisation wants to quantify risks, the ideal way to do so is by classifying them into two groups:

Known and Unknown Risks.
Unknown risks are the ones that are almost impossible to foresee. For example, a tornado destroying your Vendor’s warehouse can negatively impact your supply chain, and it’s hard to predict the intensity of a natural calamity until after it has occurred. In the same way, a cybersecurity vulnerability buried deep inside a critical electronic component of the Vendor’s system can shut down its operations without warning.

When handling unknown risks, the best strategy is to reduce their probability and increase your response time to maintain a competitive advantage.

Known risks can be recognized and measured- this means they can be managed over time. For example, Vendor bankruptcy is a known risk that can disrupt the supply chain. A business can assess its likelihood by analyzing the Vendor’s financial history and credit rating.
Similarly, cybersecurity breaches are newer risks that can be quantified by analyzing a Vendor’s IT system.

How can you manage unknown vendor risks?
Alleviating unknown risks is achievable by setting up robust defenses and building a risk-aware organisational culture. A strong culture ensures that defensive layers are in place to respond quickly when an unknown risk materializes and threatens to disrupt operations.

How can you manage known vendor risks?
Organisations can use a structured problem-solving procedure to manage their known risks effectively.

⦁ The first step is to map out and evaluate the supply chain of your products. Each Vendor in the supply chain should be identified, along with the risks to which they expose your business.
⦁ Regular monitoring of the framework is a critical success factor in Vendor risk management. An early warning system should be set in place to track top risks.
⦁ Constantly improve the agility and resilience of the supply chain.
⦁ Build a Vendor risk management framework where each risk is scored according to its impact, likelihood, and the organisation’s preparedness to handle it.

Finally…
As supply chains become more global, the risk associated with Vendors multiplies.

Organisations must map out a systematic approach for Vendor risk management to avoid losses and ensure smooth operations.

For more info please go to: https://fiscaltec.com/supplier-risk-management/

Posted in: Finance, Information Technology, IT Security, Software.

Shops for Sale in North London for long term ventures

Mar 1st, 2023
by Anna.
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We all know how wonderful it is to visit a high street where local businesses are thriving: independent shops help to define a community as they are started up by people with a love of the area and the locals they cater for. Recent decades have of course seen an increase in chain stores leading to the depersonalisation of our shopping experiences. However, as many of these chains see their potential to make profit move into the online realm, we may well be on the brink of an independent high street revival. As such, commercial property London is becoming highly sought after. Shops for sale in London offer people with some savings behind them, and long term projects ahead, to actually realise their dreams. And for young business people preparing to try out an unproven idea, shops for sale in North London are just asking to be occupied.

Without doubt, North London looks to be a budding area in which to set up new business ventures. In contrast with East London, where the capacity for coffee shops, vintage clothes stores and art galleries has almost been reached and letting prices have shot up, North London is yet to realise its potential. If we give it some thought, the Kings Cross area could be hugely attractive if a higher number of smaller businesses were to set up shop. This area has excellent links with the rest of London, an international train service in the form of the Eurostar, and a truly diverse population of students, young professionals and families. Housman’s independent bookshop is just one example of a small enterprise that is thriving here, while the success of the handful of commercial art galleries shows that physical presence still counts in the age of online.

Indeed, while web-based visibility aids business income greatly, physically being in a space can really add to the appeal of products and services that are only produced in restricted quantities. If we think about it, our web shopping habits tend to involve purchasing things with which we are already familiar and thus do not need to touch, taste or smell. If you are an artist, a restaurateur, or small scale fashion designer on the other hand, shops for sale in North London could be essential to your success. A welcoming and innovative environment is waiting to be created if you invest in shops to rent in north London or a shop for sale in london. Soon you will be building unique relationships with your clients.

Visit http://www.claridges-commercial.co.uk for more…

Posted in: Commercial Property, Property.

Finding work in Singapore with Asia Caterer

Feb 17th, 2023
by Anna.
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A gorgeous trail of islands in the heart of the Pacific, Singapore has also been named the world’s easiest place to do business and the world’s top ‘meetings city’. Naturally, with all these meetings and business transactions taking place, it also has a huge range of business-class hotels – making hospitality jobs in Singapore one of the most popular immigration work opportunities in Asia.

Because the country has such a small permanent, ‘native’ population – just five million people – it has always been widely accepted that large numbers of hotel jobs in Singapore will be taken by people from abroad. This has many advantages for the Asian job seeker.

To begin with, migrant employees are so common that hotels and other tourism employers are very used to the need to provide visas for their employees. In many countries – for instance, within the EU or US – employers will refuse to apply for visas on behalf of anyone other than the most high level employees, and are quite likely to discard applications immediately if they are from people who will need visas to work.

In addition, Singapore can be a very welcoming place for migrant workers, partly because of its diversity. People filling hotel jobs in Hong Kong, or other less diverse areas, sometimes feel that they ‘stick out’ or that it is hard to assimilate in their new countries, when almost everyone else is, for instance, culturally Chinese. In Singapore, although people with Chinese ethnicity are a majority, there are large Malay, Indian and Eurasian minorities. In addition, almost everybody speaks English, meaning that English speakers working in hotel jobs in Singapore are unlikely to have to learn more than a few words of another language.

All this means that hospitality jobs in Singapore are much in demand and the market can be extremely competitive. If you’re a non-Singaporean looking for work in Singapore – indeed, if you’re looking for hotel jobs in Hong Kong or any other competitive Asian service market – it’s crucial to work with larger recruiters to make sure that you’re put forward for the jobs that are right for you.

Many hotel chains are international, and very few recruit directly on the ground. The more reputable a chain is, the more likely it is to only use recruiters when trying to fill hospitality jobs in Singapore.  And the best hotel jobs in Singapore are generally offered by larger chains, who offer more opportunity for promotion, development and training, as well as better management. That’s why large recruiters should be your first step, not your last, when looking for work in this beautiful country.

http://www.asiacaterer.com

Posted in: Uncategorized.

Brise Soleil: The Design Alternative to Traditional Awnings.

Jan 7th, 2023
by Louise.
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In these times, in which the newspapers carry a new story on the prevalence of cancer almost daily, we are well aware of the need to wear sunscreen, particularly in summer between the hours of 11am and 3pm. We are less aware, meanwhile of the need to screen the buildings we inhabit from the sun – though there is a whole variety of brise soleil specially adapted to this purpose. And, while buildings are clearly not at risk from cancer, they should be causes of concern: careful upkeep of our buildings exteriors can help keep the insides running well. Energy efficiency, for example, can be greatly improved by controlling external factors such as heat and light. A building that uses glass louvres will normally require less internal heating and use of costly fuel. And buildings with external louvres can act simultaneously as blinds and as air vents for the intake and discharge of cool or hot air. The latter, in hot climes or seasonal temperature highs, will perform much the same function as an air conditioning system – only at a much lower long term cost.

External louvres come in many different guises and can even be custom-designed and fitted to suit specific buildings. This is because their fabricators are sympathetic towards the hugely divergent styles of architecture in existence these days, but are also knowledgeable of their common needs when it comes to heat regulation. To give an idea of what external louvres look like, it might help to imagine a heavy slatted blind or a set of narrowly overlapping sails. Given their placement outside, these sun-shading devices are always weather resistant with little maintenance required after their installation. This might be welcome news if the façade of your building currently looks shabby or is in constant need of repainting due to weather-related cracks and peels; external louvres will protect whatever lies underneath them, behaving much like defensive shields.

Glass louvres are more modern in appearance: think of the Louvre of the Parisian art gallery and you’ll have a good idea of their aspect. Clearly, some more traditionally minded home and building proprietors will not desire these sorts of additions in their midst. But, given enough space such as a courtyard or green space, these louvres can really come into their own. brise soleil perhaps tread a middle ground: more conspicuous than external louvres they are useful in the creation of walkways between buildings, jutting out like awnings from the wall.

Please visit http://www.maplesunscreening.co.uk/

Posted in: Construction, Sun Protection.

Luxury Coach Hire takes in all the unmissable sights of the road

Dec 21st, 2022
by Anna.
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Now that air travel is so reasonable many people go straight to budget airline sites to get tickets to their holiday destinations. In many ways this is an understandable trend: a whole host of popular cities across Europe can be reached via air for fifty pounds or less. On the other hand this trend has meant that few of us think about the benefits of travelling by train, boat or coach any more. Coach travel in particular can be just as affordable as flying with any one of the budget airlines. This is namely due to the lack of hidden costs: when you choose luxury coach hire, minibus hire or coach hire London you need not factor in the extortionate price of your taxi ride to the airport or your car parking costs if you drive. Nor will you need to pay to check in luggage or get duped into shelling out for duty free goods that you’d never ordinarily buy on the ground.

In the green stakes, coach travel comes out on top against flying once more, especially when the coach is carrying its full capacity of passengers. In fact, coach hire is a top solution for groups travelling together because the cost, space, and supplies can all be split in a sharing spirit. This may conjure memories of school trips or time spent in the Girl Guides or Scouts. But coaches come in many and varied shapes and sizes now: the most basic style of minibus or small coach will suffice for a school or college sports team heading off to local fixtures together. Meanwhile, a spacious vehicle with curtains, reclining seats, climate control and entertainment will cater to a special party or premiership football team’s needs.

Perhaps where luxury coach hire differs most distinctly with other modes of travel is in its adaptability to the individual: where trains, planes and boats must adhere to particular schedules and routes, the coach can be taken along the path determined by its hiring driver. So, if you have a vacation in mind that takes in a string of locations and sights, why not journey from one to the next in the coach? Or, if you’re in a touring band playing concert venues across the country, minibus hire will be pretty much obligatory and far from unsavoury: the best thing about coach hire London is that you get to take in all of the landscapes and cityscapes you pass on the road.

Please see http://www.goldenboy.co.uk/

Posted in: Automotive.

School Clothes and other necessities, online

Sep 14th, 2022
by Tony.
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Purchasing new school uniforms is a yearly chore, and parents the country over know the trouble that sourcing the right school clothes can create. The cost alone is enough – the vast range of clothes required, as well as the exclusive list of approved suppliers, means that the bill can be eye-watering. To that must be added the stress of shopping in the first place: finding the right clothes in the required sizes, ahead of the deadline of the new school term, is a lot to deal with. A good London schoolwear supplier can address both the stress and the financial bill.

Buying school clothes online isn’t something that occurs to many parents, but there is no reason to discount it. A lot of people buy their own clothes on the web, so why not? As long as you use a reputable site and credible suppliers, and you measure up your child properly first, there should not be any undue problems. And it’s certainly a lot easier than buying them in person from the high street – quite possibly taking your children round with you to try the clothes on as you go. You can shop at any time of day, which means you won’t have to brave the high street on a Saturday or take time off work. Without the physical stores that bring large overheads to pass on, you’ll end up paying under the odds too. It’s not just clothes, either. A good schoolwear supplier will sell absolutely everything you require, not just school uniforms. PE kit, shoes, equipment for after school clubs, stationary – it’s all there, in the right brands and at excellent prices.

The one caveat is around delivery and timing. If you leave things to the last minute, there is no time left to address school clothes that are the wrong size. While this shouldn’t be a problem, if it turns out your child has grown or you’ve got the measurements wrong, it can make life difficult. Some stores have a school delivery arrangement, so you can have those last-minute bits and pieces of school uniforms sent right to the school itself. And a good London schoolwear supplier will let you send back clothes that are the wrong size for free. All in all, there are a large number of advantages to doing it online, and few reasons not to.

Please visit http://www.uniform4kids.com/ for further info

Posted in: Clothing, Education, Schools.

Phono Stage products ensuring improved sound from Vinyl-based Music Systems

Aug 21st, 2022
by Anna.
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Any self-respecting music lover knows that there is far more to experiencing good sound than simply selecting a list of quality tracks from top artists and then pressing play. Indeed, audiophiles have more technical factors to consider before they can enjoy a music-listening or deejaying session. If we think, for example, about how most music fans have something of a passion for vinyl, it is fast realised that these listeners or DJs will need specialist sound equipment. A phono stage, also known as a phono preamp or phono amp, is one such specialist product that amplifies the audio signal received by any vinyl based music system before the sound reaches the speakers.

However, not all phono stages are the same; while any phono amp is capable of amplifying sound, the performance of this essential task can vary from excellent to atrocious. This is because only the best phono stages achieve high levels of precision when they amplify.

When selecting a phono stage, it is therefore best to make precision a foremost concern. Reducing background noise to a minimum should be a matter of particular importance to those looking to transfer their vinyl collection to a digital format. In brief, it should be remembered that the quality of the music input as played on vinyl will be reflected in the eventual digital output. The analogue to digital transfer thus needs to be effected with optimum care and with investment in the best quality products: a better turntable and phono stage setup will ensure that the time spent on digitizing a music collection is not time wasted.

If the word investment inspires fear, you may be worrying in vain, because even some of the audio manufacturing companies that have achieved worldwide acclaim and offer bespoke services charge only a little more than a basic phono stage or phono amp supplier. Altogether, if you care for your ears, and respect your favourite artists and your audience, just remember there may be more to be gained from your music with a reasonable phono preamp than what can be offered by a more basic turntable.

Please visit http://www.whestaudio.co.uk/

Posted in: Audio Visual, Entertainment Systems.

Information on Supplier Sanction Monitoring

May 9th, 2022
by Tony.
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Sanctions Compliance

Supplier sanction monitoring is based on strict responsibility, which means that no group is immune from enforcement action. As a result, we are witnessing a compliance race in which new procedures and technology are implemented. Even if your organisation is benchmarked against its rivals, authorities may perceive your compliance program to be below requirements the next year if the pace of penalty requirements has quickened. Companies under the scrutiny of OFAC, the Department of Commerce, the SEC (Securities and Exchange Commission – especially for anti-bribery and corruption), the Department of Justice, and their counterparts frequently raise compliance standards.

Starting from the suppliers

Trade activities are exceedingly complicated and need careful sanctioning. Understanding your customer is a good place to start. Integrity monitors in high-risk sectors are increasingly setting the bar for businesses to engage in policies that attempt to understand customer ownership structures and supply networks. While some businesses may need to start with a risk-based strategy, it’s critical to thoroughly screen your top suppliers and purchasers and guarantee that items are evaluated throughout the product and service life cycle (including product warranties & maintenance contracts).

Beyond sanctions

Considering not only Russia sanctions, but also other consolidated sanctions lists and arms embargoes / UN resolutions, or even smaller programs, your business should consider whether it is exposed to other sanctions regimes.

The way forward

When engaging in deeper relationships with suppliers & buyers, a business should ensure supplier sanction monitoring for comprehensively sanctioned countries. Companies should vet their suppliers and buyers against both OFAC’s SDN list and a non-consolidated list, as well as any other applicable lists. A shipment tracking program could take the form of a tracking tool that would rapidly screen vessels for sanctions concerns and track their movements.

Find more details at: https://go.fiscaltec.com/supplier-sanctions-monitoring

Posted in: Uncategorized.

Presentation Design – How to get it Right…

Jan 5th, 2021
by Louise.
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Powerpoint presentations are very simple to put together, but outstanding presentation design is extremely hard. Pushed for time, most of us will put together a bunch of slides based on our talk, perhaps illustrating some key points. The versatility of Powerpoint makes this easy – too easy. Thanks to the user-friendliness of the product, you can very quickly build up slides with text, images, audio and video, transitioning to each other with a range of special effects. But that’s not enough. Good sales presentations are more than window-dressing, and if you don’t know what you’re doing your audience will find out pretty fast.

Bad Powerpoint design simply repeats what the audience hears in your spoken presentation. Good design has a narrative: a story that continues through the presentation and that is communicated with conciseness and clarity. The visuals matter, but only in enabling this primary aim. People take in information in different ways, so don’t assume that the slides are an optional extra to the talk you deliver. In many cases these snapshots will be most or all of what a viewer/listener takes away.

This isn’t something that just anyone can do – at least not without training.

If you work in a business of any size, you’ll already understand that. Although you can create your own copy, it’s far more effective to hire a copywriter to do it for you. Anyone can write; not everyone can copywrite (although in smaller organisations they may try). Powerpoint is the same. The problem is that the ease of using the software means there are a lot of dilettantes out there, with unfortunate results. Creating a really killer slideshow is actually quite an art; it’s just that creating a mediocre slideshow is within anyone’s reach – just as writing a lacklustre sales pitch or website landing page is something anyone can do.

If your powerpoint design or your presentation training is letting you down, there are companies who can either do it for you or train someone within your organisation so that they can put together high-quality training presentations. Great Presentation training doesn’t just happen by itself; it is  crafted, just like any other worthwhile product – copy, artwork, software, a website.

As in anything like this, the proof of the pudding should be in the eating, and very quickly. Return on investment is the only meaningful measure of success when hiring a service like this, and you should see it almost straight away in the form of successful bids and convincing presentations.

See  https://www.eyefulpresentations.co.uk/

Posted in: Communication, Meetings.

Accounts Payable Audit Software … Gives You Advantages

Feb 12th, 2019
by Louise.
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There’s a maxim that businesses that start in a recession tend to be leaner and tougher than those which get going in easier times. The same is broadly true, though to a lesser extent, of businesses that survive a recession. Some make it because they slim down and make every pound count; others only because they have reserves to rely on and not because their model is sound. Either way, a recession is a good time to make sure that waste is at a minimum and you are making the most of every opportunity. That goes for your accounts as well as advertising and product design or service provision. An accounts payable audit can show up where you have been going wrong for potentially years, without realising it – those areas such as duplicate payments where you have been throwing money away, solely because your accounts processes aren’t up to the job of pinpointing where errors and fraud are most likely to occur. Thus recovery audit software can have two helpful purposes: it can enable you to reclaim money lost in past overpayments, and it can help protect you from making the same mistakes again in the future.

When a company starts out, its accounts might be quite simple. A relatively small number of suppliers and clients (perhaps just one of each), and small, predictable payments. That’s easy enough to keep track of, but when your business grows you might find yourself adding new clients and complexity to a system that was never designed to keep up with it. That becomes time-consuming to administrate, for starters. Unfortunately, it also becomes vulnerable to errors, and even fraud. Even a single invoice itself is quite complex, with maybe a dozen different fields of data. The scope for discrepancies is large, and multiplies with the number of clients you have. Plus, some will always be unscrupulous and willing to see whether they can take advantage of your system’s inadequacies by filing duplicate invoices.

Duplicate payments represent the single largest category of overpayment, but there are many others. That’s why recovery audit software is so vital: it enables you to find exactly where the errors are creeping in, and to plug the gaps. Given that an estimated 0.1 percent of payments are spurious, an accounts payable audit can save a lot of money – especially if your business thrives on high numbers of transactions. In fact, it can make all the difference between going under and staying afloat – and will stand you in good stead for when the economic climate improves.

More at:  http://www.fiscaltec.com/uk/

Posted in: Business, Finance.

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