• Latest
  • All
  • How To
IT Investments

The Critical Business Need for IT Investments

September 14, 2020
Cyber attacks on insurance companies

Kenyan Insurance Companies Ordered to Report Cyber Attacks Within 24 Hours

July 12, 2025
Linkless phishing scams

Linkless Scams Are the New Phishing, Experts Warn

July 12, 2025
Android 16

Android 16 Will Clean Up Your Notifications with Smart AI Grouping

July 12, 2025
Android Canary release channel

Early Access Android Builds Arrive with Google’s Canary Channel

July 12, 2025
DHgate Tablet Cases deals
Japan Internet Speed

Japan Records World’s Fastest Internet Speed at 1.02 Petabits Per Second

July 12, 2025
Bitchat

Jack Dorsey Launches Bitchat, a Bluetooth-Only Messaging App

July 10, 2025
YouTube AI slop is getting demonetized

YouTube Declares War on Low-Effort AI Videos via Demonetization

July 10, 2025
Why Can'y You Register a Safaricom SIM Card After 7 PM

Why You Cannot Register a Safaricom SIM Card After 7 PM

July 10, 2025
Former Safaricom Chief Enterprise Business Officer, Cynthia Karuri-Kropac

Frankline Okata Takes Over as Cynthia Karuri-Kropac Exits Safaricom PLC

July 10, 2025
AI

OpenAI and Perplexity Launch Browsers to Rival Google Chrome

July 10, 2025
Vivo-Y29-4G

Vivo Y29 Launches in Kenya at KES 23,999

July 10, 2025
galaxy z fold7-galaxy z flip7-samsung

Samsung Unveils Galaxy Z Fold7 and Z Flip7 with Bigger Screens

July 10, 2025
Techweez | Tech News, Reviews, Deals, Tips and How To
  • News
  • Entertainment
  • Reviews
  • Features
  • Editorial
No Result
View All Result
Techweez | Tech News, Reviews, Deals, Tips and How To
  • News
  • Entertainment
  • Reviews
  • Features
  • Editorial
No Result
View All Result
Techweez | Tech News, Reviews, Deals, Tips and How To
No Result
View All Result

The Critical Business Need for IT Investments

Rebecca Wilcox by Rebecca Wilcox
September 14, 2020
in Lists
Reading Time: 3 mins read
248
0
IT Investments

IT InvestmentsTechnology has an impact on every area of your business, including marketing, supply chain management and financial reporting. Investing in better IT solutions is particularly important as your firm grows and becomes more complex. Consider these business challenges and the need to invest in IT:

Warehouse management

For many businesses, inventory requires a huge investment of company assets. Retailers and manufacturers must pay for inventory as well as the cost to store and deliver goods to clients. These firms often make the business case for investing in IT to manage the entire supply chain process more efficiently.

Assume, for example, that your firm manages a sporting goods retailer with three regional warehouses and 50 retail locations. Each store carries, on average, $2 million in inventory, and your warehouses must constantly receive new merchandise and ship needed inventory to your stores. Given your $100 million investment in in-store inventory, you decide to evaluate your warehouse management system. An IT investment can improve your system in several ways:

  • ·  Point of sale improvements: Assume that each of your store locations uses a point of sale (POS) system to track sales and changes in inventory levels. A better software system can help you track sales and inventory more precisely, while transmitting data into management reports in real time. These improvements allow management to make more accurate decisions about inventory purchases.
  • ·  Economic order quantity (EOQ): EOQ is an equation that determines the ideal amount of inventory that a company should order, given the cost of a product, customer demand, ordering costs and other variables. Management software can use this calculation to determine the optimal level of inventory purchases for hundreds of products.
  • ·  Shipping logistics: Your warehouse may ship inventory to each store on a weekly or even daily basis, and the logistics may be expensive. Your warehouse staff must receive each store’s order, pick the specific inventory goods off the shelves, load trucks and deliver the items to each location. Software can help you minimize errors and reduce the labor hours required to complete these tasks.

An investment in IT can reduce your required investment in inventory, which frees up cash for other uses in your business. Better software can move inventory from each warehouse to your retail locations faster, which reduces labor costs for your business. G-III Apparel Group, for example, increased their third quarter 2017 results by controlling the company’s distribution costs.

Smart marketing practices

An IT investment can improve your marketing outcomes by collecting useful customer data faster and more efficiently. Software innovations can help your firm collect and manage data regarding customer purchase trends and preferences, including how often a customer buys your product and the impact of offering coupons and discounts.

Software makes it much easier to use social media to market your products. Marketers can manage email campaigns and customer responses to opt-in buttons on a company webpage. A marketer can collect data and make changes to marketing campaigns in real time, which can improve customer response rates and increase sales.

Better results

An investment in IT products and services can be expensive, but the payoff in cost savings and improved productivity can be substantial. Purchasing better software can allow you to grow your business and continue to operate productively. Consider an IT investment to stay ahead of your competition.

SendShare146Tweet92
Rebecca Wilcox

Rebecca Wilcox

Rebecca is interested in ways that technology makes the world a happier place. She thrives on coffee, spice and everything nice.

Related Posts

Cyber attacks on insurance companies

Kenyan Insurance Companies Ordered to Report Cyber Attacks Within 24 Hours

July 12, 2025
Linkless phishing scams

Linkless Scams Are the New Phishing, Experts Warn

July 12, 2025
Android 16

Android 16 Will Clean Up Your Notifications with Smart AI Grouping

July 12, 2025
Android Canary release channel

Early Access Android Builds Arrive with Google’s Canary Channel

July 12, 2025
Japan Internet Speed

Japan Records World’s Fastest Internet Speed at 1.02 Petabits Per Second

July 12, 2025
Bitchat

Jack Dorsey Launches Bitchat, a Bluetooth-Only Messaging App

July 10, 2025

Latest

Cyber attacks on insurance companies

Kenyan Insurance Companies Ordered to Report Cyber Attacks Within 24 Hours

July 12, 2025
Linkless phishing scams

Linkless Scams Are the New Phishing, Experts Warn

July 12, 2025
Android 16

Android 16 Will Clean Up Your Notifications with Smart AI Grouping

July 12, 2025
Android Canary release channel

Early Access Android Builds Arrive with Google’s Canary Channel

July 12, 2025
Japan Internet Speed

Japan Records World’s Fastest Internet Speed at 1.02 Petabits Per Second

July 12, 2025
Bitchat

Jack Dorsey Launches Bitchat, a Bluetooth-Only Messaging App

July 10, 2025

Best devices

budget smartwatches 2025

Best Budget Smartwatches To Buy in Kenya 2025

February 13, 2025

Best Infinix Smartphones To Buy in Kenya 2024

February 13, 2025

Best Laptops for Battery Life in 2024

August 21, 2024

Best “Battery Warrior” Smartphones To Buy in 2024

August 22, 2024

Kenyan Insurance Companies Ordered to Report Cyber Attacks Within 24 Hours

July 12, 2025

Linkless Scams Are the New Phishing, Experts Warn

July 12, 2025

Techweez is a fast growing influential source of technology news, reviews and analysis by leading tech geeks in the industry.

Follow Us

Editorials

Abductions and Arrests! Kenyan Government’s Fear and Hate of X Users Makes No Sense

Actors and Film Crews Are Worried About Veo 3 Taking Their Jobs

Samsung QLED TVs Now Officially Certified for Real Quantum Dot Technology

Trump’s Tariffs Will Be the End of Affordable Tech

5 Ways to Prep Your Tech for Resale

The Weaponization of PDFs: How Cybercriminals Are Exploiting a Trusted Format

More News

YouTube Declares War on Low-Effort AI Videos via Demonetization

Why You Cannot Register a Safaricom SIM Card After 7 PM

Frankline Okata Takes Over as Cynthia Karuri-Kropac Exits Safaricom PLC

OpenAI and Perplexity Launch Browsers to Rival Google Chrome

Vivo Y29 Launches in Kenya at KES 23,999

Samsung Unveils Galaxy Z Fold7 and Z Flip7 with Bigger Screens

  • Terms Of Use
  • Techweez Brand
  • Privacy & Policy
  • Contact Us

© 2024 Techweez - Palahala Media Group may earn a commission when you buy through links on our sites.
A Palahala Media Group Brand. All rights reserved.
.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add New Playlist

Techweez | Tech News, Reviews, Deals, Tips and How To
Crunchy Cookies 🍪 Ahead!

Hey there! Just a heads-up: we're big fans of cookies - both the digital and edible kind! 🍪 We use our cookies and some from third parties to ensure your browsing experience on our site is smooth sailing and secure.

 

But wait, there's more! We also use cookies to gather stats and insights on how you navigate our site. It's like getting a behind-the-scenes peek at your digital adventures!

 

Don't worry, you're in control. You can adjust your cookie settings anytime to suit your preferences. Feeling curious? Dive into our Privacy Policy for all the juicy details. Happy browsing! 🚀

Functional Always active
Listen, this legal stuff is about as exciting as watching paint dry. But it basically says we only use your stuff for what you asked us to do, and nobody else gets to peek!
Preferences
The technical storage or access is necessary for the legitimate purpose of storing preferences that are not requested by the subscriber or user.
Statistics
It's those sneaky cookie crumbs websites leave behind to count visitors, like counting ants at a picnic! Totally harmless, just for fun facts. The technical storage or access that is used exclusively for anonymous statistical purposes. Without a subpoena, voluntary compliance on the part of your Internet Service Provider, or additional records from a third party, information stored or retrieved for this purpose alone cannot usually be used to identify you.
Marketing
Hey there! Just letting you know we use some fancy gizmos to remember your preferences. This way, we can show you ads that are, well, not completely bananas.
Manage options Manage services Manage {vendor_count} vendors Read more about these purposes
Make cookies
{title} {title} {title}
Techweez | Tech News, Reviews, Deals, Tips and How To
Crunchy Cookies 🍪 Ahead!
To provide the best experiences, we use technologies like cookies to store and/or access device information. Consenting to these technologies will allow us to process data such as browsing behavior or unique IDs on this site. Not consenting or withdrawing consent, may adversely affect certain features and functions.
Functional Always active
Listen, this legal stuff is about as exciting as watching paint dry. But it basically says we only use your stuff for what you asked us to do, and nobody else gets to peek!
Preferences
The technical storage or access is necessary for the legitimate purpose of storing preferences that are not requested by the subscriber or user.
Statistics
It's those sneaky cookie crumbs websites leave behind to count visitors, like counting ants at a picnic! Totally harmless, just for fun facts. The technical storage or access that is used exclusively for anonymous statistical purposes. Without a subpoena, voluntary compliance on the part of your Internet Service Provider, or additional records from a third party, information stored or retrieved for this purpose alone cannot usually be used to identify you.
Marketing
Hey there! Just letting you know we use some fancy gizmos to remember your preferences. This way, we can show you ads that are, well, not completely bananas.
Manage options Manage services Manage {vendor_count} vendors Read more about these purposes
Make cookies
{title} {title} {title}
No Result
View All Result
  • News
  • Reviews
  • Features
  • Editorial
  • Automotive
  • Entertainment

© 2024 Techweez - Palahala Media Group may earn a commission when you buy through links on our sites.
A Palahala Media Group Brand. All rights reserved.
.