ResidentialBusiness

Nearly 20% of homeowners had a mortgage rate of at least 6% in the second quarter of this year, signaling Americans are warming up to higher rates, Redfin said. View the full article

OpenAI is launching Instant Checkout inside ChatGPT to Plus, Pro, and Free users in the U.S. Users will be able to buy products from Etsy sellers. Purchases are powered by the new Agentic Commerce Protocol (ACP), co-developed with Stripe. How it works. Users search in plain language (e.g., “gifts for a ceramics lover”). Then: ChatGPT returns product recommendations ranked by relevance, not payment. If an item supports Instant Checkout, users tap “Buy,” confirm shipping and payment details, and complete the order without leaving chat. Orders, payments, and fulfillment run through the merchant’s existing systems; ChatGPT just passes information securely. Merchants pay a small transaction fee; shoppers pay no extra cost. Between the lines. OpenAI said products are ranked only by relevance – not sponsorship or whether Instant Checkout is enabled. Merchants remain the merchant of record, keeping control over fulfillment and customer relationships. What’s next. Coming soon, according to OpenAI: Multi-item carts. Expansion to Shopify’s million-plus merchants (e.g., like Glossier, SKIMS, and Spanx) More regions beyond the U.S. Why we care. If AI chat becomes a mainstream way for people to discover products, OpenAI is now at the start of that purchase journey. For brands or businesses selling products, this could mean a new channel to optimize for – one that bypasses traditional search and funnels discovery straight into checkout. How to sign up. Merchants can apply to have their products included in ChatGPT search results and enable Instant Checkout via ACP. Etsy and Shopify sellers are already eligible and don’t need to apply. OpenAI is onboarding merchants on a rolling basis through an online application form. Dig deeper. How ChatGPT search ranks products and merchants OpenAI’s announcement. Buy it in ChatGPT: Instant Checkout and the Agentic Commerce Protocol View the full article

Proposal calls for immediate ceasefire and release of all remaining hostages View the full article

Effective manufacturing inventory management is vital for your business’s success. By implementing strategic practices like ABC analysis and regular audits, you can optimize stock levels and reduce excess inventory. Utilizing technology for tracking and forecasting demand helps align inventory with sales trends. Comprehending supplier performance and ensuring proper staff training are likewise fundamental. These foundational tips can greatly improve your inventory processes, but there’s more to explore on how to achieve lasting efficiency. Key Takeaways Implement ABC Analysis to prioritize inventory, focusing resources on high-value items that drive profitability. Maintain accurate and detailed records of SKUs, including sales data and supplier information, for effective tracking. Schedule regular inventory audits and utilize cycle counting to ensure accuracy and compliance with regulations. Diversify your supplier base to mitigate risks and enhance delivery reliability through performance monitoring. Invest in advanced inventory technology and staff training to improve tracking efficiency and operational effectiveness. Prioritize Your Inventory for Better Management To effectively manage your inventory, it’s crucial to prioritize it based on value and turnover rates. Implementing ABC Analysis can help you categorize inventory into A, B, and C groups, allowing you to focus on high-value items that impact financial performance. Regularly assess turnover rates to identify items that sell quickly, ensuring you avoid cash flow issues with slower-moving products. Establish reorder points based on sales velocity for each group, so high-priority items are restocked without delay. Utilize demand forecasting techniques to anticipate future needs, enhancing your manufacturing inventory management strategy. Regularly review and adjust priorities as market conditions change, ensuring your strategy aligns with business goals. The best software for manufacturing companies can streamline this entire process effectively. Track All Product Information to Manage Inventory Effectively Effective inventory management hinges on your ability to track all relevant product information carefully. Start by maintaining detailed records of your Stock Keeping Units (SKUs), including barcode data, supplier information, and lot numbers. This information is vital for accurate tracking and management. Documenting countries of origin and item costs over time helps you understand pricing dynamics, allowing for informed procurement decisions. Don’t forget to monitor daily sales data, as it enables accurate inventory updates and reveals seasonal sales patterns. Regularly analyzing sales trends can identify peak sales days, optimizing your inventory levels and reducing stockouts. Implementing a robust system for tracking product information improves overall inventory accuracy, ensuring you fulfill orders efficiently and maintain customer satisfaction. Audit Your Inventory Regularly To manage your inventory effectively, you need to schedule regular counts to guarantee accuracy. Comparing these counts with your records helps you identify discrepancies swiftly, which can impact your financial reporting and operational efficiency. Schedule Regular Counts Scheduling regular inventory counts is crucial for maintaining accurate inventory records and guaranteeing your business runs smoothly. Whether you choose annual, monthly, or weekly counts, these checks help identify discrepancies between physical stock and recorded data. Conducting spot checks on high-demand items can further improve accuracy, allowing you to make timely adjustments to your inventory management practices. Regular audits not only verify stock levels but also assess the effectiveness of your current techniques, revealing areas for improvement. Implementing a cycle counting method guarantees ongoing accuracy without requiring a complete shutdown for annual counts. Furthermore, using automated inventory management tools can streamline the auditing process, providing real-time data and reducing the time spent on manual checks, ultimately supporting better decision-making. Compare With Records Even though it might seem tedious, regularly comparing your physical inventory counts with recorded levels is essential for maintaining a robust inventory management system. Conducting audits on a monthly, quarterly, or annual basis allows you to identify trends in inventory movement, helping you pinpoint areas for improvement. By utilizing cycle counting, you can improve accuracy by focusing on high-demand items more frequently, ensuring critical stock levels are maintained. This comparison not only aids in adjusting your inventory management processes but also enhances your forecasting and reduces holding costs. In addition, regular audits are fundamental for compliance with industry regulations and can detect issues like theft or spoilage before they lead to significant financial losses, safeguarding your business’s bottom line. Identify Discrepancies Promptly Regular inventory audits play a pivotal role in identifying discrepancies quickly, ensuring your records align with physical counts. Aim to conduct these audits monthly or quarterly to maintain accuracy. Utilizing cycle counting techniques can help you focus on high-demand items, allowing for more frequent checks and faster resolution of inaccuracies. Implementing barcode scanning systems streamlines the counting process, reducing human error during audits. When discrepancies arise, analyze them by comparing physical counts with expected amounts to identify root causes. Adjust your inventory management practices based on this analysis. Regular audits not only improve inventory accuracy but also support compliance with financial reporting standards, enhancing overall operational efficiency. By staying proactive, you can better manage your inventory and reduce costly errors. Analyze Supplier Performance To effectively manage your inventory, you need to assess your suppliers’ delivery reliability and monitor their order fulfillment. Regularly tracking these factors helps guarantee that your materials arrive on time and meet quality standards, which is essential for maintaining production schedules. Assess Delivery Reliability Evaluating delivery reliability is crucial for maintaining an efficient manufacturing operation, as it directly impacts your inventory management strategy. Regularly assess supplier performance metrics, focusing on on-time delivery rates and order fulfillment accuracy. Establish clear communication channels with suppliers to address issues swiftly and build a collaborative relationship. Consistently monitor lead times and analyze historical data to identify trends, helping you make proactive adjustments to your inventory strategies. Implement a supplier scorecard system to rate suppliers on key performance indicators (KPIs), facilitating informed decisions regarding potential changes or negotiations. Moreover, diversify your supplier base to reduce risks associated with relying on a single source, ensuring a resilient supply chain that can maintain inventory levels during disruptions. Monitor Order Fulfillment Monitoring order fulfillment is essential for ensuring that your manufacturing processes run smoothly and efficiently. Regularly assess supplier performance metrics, like on-time delivery rates and order accuracy, to confirm that suppliers meet your business needs. Establish performance benchmarks and conduct quarterly reviews to identify improvement areas as you encourage open communication about expectations. Implement a Supplier Relationship Management (SRM) system to streamline evaluations and keep organized performance records for better decision-making. Use data analytics to spot trends in supplier performance, allowing you to adjust inventory strategies proactively, reducing the risk of stockouts or delays. Finally, develop contingency plans for high-risk suppliers to mitigate potential disruptions and maintain continuity in your manufacturing processes during supply chain challenges. Practice the 80/20 Inventory Rule In the process of managing inventory, it’s essential to recognize that not all items contribute equally to your profits. The 80/20 inventory rule, or Pareto Principle, asserts that around 80% of your profits come from just 20% of your inventory items. By identifying this top 20%, you can focus your resources on high-value products, leading to better inventory turnover. Regularly analyzing your inventory helps maintain this focus, ensuring you align suppliers and production schedules with your most profitable items. Implementing the 80/20 rule can minimize excess stock and streamline your operations. In the end, this approach improves decision-making regarding reordering and stocking strategies, greatly enhancing your cash flow management and overall efficiency in manufacturing. Be Consistent in How You Receive Stock To maintain consistency in how you receive stock, it’s essential to establish standardized procedures that everyone follows. This includes training your staff regularly on these processes, ensuring they know how to verify shipments against purchase orders and document any discrepancies. Standardize Receiving Procedures Standardizing receiving procedures is essential for effective inventory management. By establishing consistent methods for receiving stock, you can reduce errors in inventory records by as much as 20%. Utilize checklists to verify quantities, quality, and specifications against purchase orders, which helps identify discrepancies swiftly. Implementing a designated receiving area in your warehouse can streamline the flow of incoming goods, decreasing receiving time by up to 30%. Use checklists to improve accuracy and accountability. Designate a specific area for receiving goods to boost efficiency. Regularly review and update procedures based on feedback and operational needs. These steps won’t just improve accuracy but will also nurture a culture of accountability among your staff, ultimately improving your inventory management processes. Train Staff Regularly Training staff regularly is vital for maintaining consistency in how stock is received and recorded. Regular training sessions help you understand best practices in inventory management, minimizing errors and discrepancies. By implementing standardized receiving processes, such as using checklists or digital tools, you can improve accuracy and guarantee all items are accounted for upon arrival. Consistent training on inventory management software allows you to efficiently track stock levels, boosting visibility across the supply chain. Reinforcing the importance of proper documentation during stock receipt, including lot numbers and expiration dates, prevents issues related to spoilage and compliance. Regular refresher courses on inventory handling and receiving procedures keep you updated on any protocol changes, leading to improved overall operational efficiency. Track Sales for Effective Inventory Management Effective inventory management hinges on the ability to track sales accurately and consistently. Maintaining accurate daily sales data allows you to update inventory in real-time, reflecting current demand and minimizing stockouts or overstock situations. Analyzing sales trends helps identify seasonal patterns, enabling you to forecast better and align inventory with customer demand. Implementing a robust point-of-sale (POS) system can streamline this process, providing insights into item performance. Regularly monitor sales data against inventory levels to recognize slow-moving items. Use sales data to inform reorder points and quantities, optimizing inventory management. Take proactive measures, such as discounts, to clear excess stock and reduce carrying costs. Order Restocks Proactively Once you’ve established a solid framework for tracking sales, the next step is to order restocks proactively. To guarantee timely replenishment, establish reorder points based on historical sales data and lead times. Utilize automated reorder alerts within your inventory management software to streamline the restocking process. Analyze demand trends to adjust reorder quantities, avoiding both overstocking and understocking. Implement a just-in-time (JIT) inventory approach to minimize holding costs. Regularly review supplier performance to confirm reliable deliveries. Action Benefits Frequency Set reorder points Prevent stockouts Regularly Use automated alerts Streamline restocking Ongoing Analyze demand trends Optimize inventory levels Monthly Implement JIT Maximize cash flow As needed Review suppliers Guarantee timely deliveries Quarterly Invest in Inventory Management Technology Investing in inventory management technology is vital for modern manufacturers seeking to improve efficiency and accuracy. By implementing advanced systems, you can achieve real-time tracking of stock levels, reducing discrepancies and enhancing order accuracy by up to 20%. Utilizing tools like barcode scanners and RFID technology can further boost inventory tracking efficiency, leading to quicker stock audits and reducing manual errors by over 30%. Furthermore, cloud-based solutions offer scalability and better collaboration with suppliers, potentially lowering lead times by 15%. Here are some key benefits of investing in this technology: Predictive analytics powered by IBM can forecast demand with up to 95% accuracy. Automation tools can save you an average of 30% in labor costs. Enhanced tracking improves overall operational efficiency. Use Integration-Friendly Inventory Management Tools To improve inventory management further, using integration-friendly tools can greatly streamline operations. These tools improve communication between various systems, providing real-time updates on inventory levels across platforms, which boosts supply chain efficiency. Equipped with APIs, they facilitate seamless connections with SAP and Salesforce systems, allowing for better data sharing and analysis. Additionally, cloud-based inventory management solutions enhance accessibility and collaboration among team members and suppliers, supporting remote work and global operations. Advanced analytics features enable you to forecast demand more accurately, optimizing inventory levels and reducing the risk of stockouts or excess inventory. Implementing these tools can lead to significant cost savings by minimizing manual tracking errors and reducing labor costs associated with inventory management processes. Frequently Asked Questions What Are the 5 Steps to Effective Inventory Systems? To create effective inventory systems, start by defining your inventory needs, categorizing items like raw materials and finished goods. Next, implement an inventory management system for real-time tracking and data analysis. Establish reorder points based on sales velocity to avoid stockouts. Conduct regular audits and cycle counts to guarantee accurate records. Finally, analyze supplier performance to maintain timely deliveries and ideal inventory levels, supporting a smooth production process. How Do You Manage Inventory in Manufacturing? To manage inventory in manufacturing, start by implementing Just-in-Time (JIT) practices to minimize excess stock and reduce costs. Use Economic Order Quantity (EOQ) calculations to find the most cost-effective order size. Regularly conduct cycle counts and physical audits to verify accuracy in stock levels. Categorize your inventory with ABC Analysis to prioritize high-value items, and invest in technology for real-time tracking, which will improve your demand forecasting and decision-making processes. What Are the Five Principles of Inventory Management? The five principles of inventory management are crucial for effective operations. First, you need to know your inventory, tracking all types accurately. Second, demand forecasting helps you predict future needs using historical data. Third, implementing an efficient reordering system guarantees timely stock replenishment. Fourth, regular inventory audits maintain accuracy by checking physical stock against records. Finally, utilizing technology improves tracking and provides real-time visibility, streamlining your inventory management processes considerably. What Are the Golden Rules of Inventory Management? The golden rules of inventory management include maintaining accurate records, implementing reorder points, and conducting regular audits. You should classify your inventory using ABC analysis, focusing on high-impact items. Leverage technology, such as inventory management software, for real-time tracking and analytics. These practices help prevent stockouts and overstock situations, optimize operational efficiency, and guarantee your inventory aligns with demand. Following these rules can greatly improve your inventory management efforts. Conclusion Effective manufacturing inventory management is essential for optimizing operations and increasing profitability. By prioritizing inventory, tracking product information, and auditing regularly, you can guarantee accuracy and efficiency. Analyzing supplier performance and practicing the 80/20 rule helps focus resources where they matter most. Proactively ordering restocks and investing in technology streamlines processes, as integration-friendly tools elevate overall management. By implementing these strategies, you can effectively align inventory with demand, reduce excess stock, and improve your bottom line. Image Via Envato This article, "10 Essential Tips for Effective Manufacturing Inventory Management" was first published on Small Business Trends View the full article

Effective manufacturing inventory management is vital for your business’s success. By implementing strategic practices like ABC analysis and regular audits, you can optimize stock levels and reduce excess inventory. Utilizing technology for tracking and forecasting demand helps align inventory with sales trends. Comprehending supplier performance and ensuring proper staff training are likewise fundamental. These foundational tips can greatly improve your inventory processes, but there’s more to explore on how to achieve lasting efficiency. Key Takeaways Implement ABC Analysis to prioritize inventory, focusing resources on high-value items that drive profitability. Maintain accurate and detailed records of SKUs, including sales data and supplier information, for effective tracking. Schedule regular inventory audits and utilize cycle counting to ensure accuracy and compliance with regulations. Diversify your supplier base to mitigate risks and enhance delivery reliability through performance monitoring. Invest in advanced inventory technology and staff training to improve tracking efficiency and operational effectiveness. Prioritize Your Inventory for Better Management To effectively manage your inventory, it’s crucial to prioritize it based on value and turnover rates. Implementing ABC Analysis can help you categorize inventory into A, B, and C groups, allowing you to focus on high-value items that impact financial performance. Regularly assess turnover rates to identify items that sell quickly, ensuring you avoid cash flow issues with slower-moving products. Establish reorder points based on sales velocity for each group, so high-priority items are restocked without delay. Utilize demand forecasting techniques to anticipate future needs, enhancing your manufacturing inventory management strategy. Regularly review and adjust priorities as market conditions change, ensuring your strategy aligns with business goals. The best software for manufacturing companies can streamline this entire process effectively. Track All Product Information to Manage Inventory Effectively Effective inventory management hinges on your ability to track all relevant product information carefully. Start by maintaining detailed records of your Stock Keeping Units (SKUs), including barcode data, supplier information, and lot numbers. This information is vital for accurate tracking and management. Documenting countries of origin and item costs over time helps you understand pricing dynamics, allowing for informed procurement decisions. Don’t forget to monitor daily sales data, as it enables accurate inventory updates and reveals seasonal sales patterns. Regularly analyzing sales trends can identify peak sales days, optimizing your inventory levels and reducing stockouts. Implementing a robust system for tracking product information improves overall inventory accuracy, ensuring you fulfill orders efficiently and maintain customer satisfaction. Audit Your Inventory Regularly To manage your inventory effectively, you need to schedule regular counts to guarantee accuracy. Comparing these counts with your records helps you identify discrepancies swiftly, which can impact your financial reporting and operational efficiency. Schedule Regular Counts Scheduling regular inventory counts is crucial for maintaining accurate inventory records and guaranteeing your business runs smoothly. Whether you choose annual, monthly, or weekly counts, these checks help identify discrepancies between physical stock and recorded data. Conducting spot checks on high-demand items can further improve accuracy, allowing you to make timely adjustments to your inventory management practices. Regular audits not only verify stock levels but also assess the effectiveness of your current techniques, revealing areas for improvement. Implementing a cycle counting method guarantees ongoing accuracy without requiring a complete shutdown for annual counts. Furthermore, using automated inventory management tools can streamline the auditing process, providing real-time data and reducing the time spent on manual checks, ultimately supporting better decision-making. Compare With Records Even though it might seem tedious, regularly comparing your physical inventory counts with recorded levels is essential for maintaining a robust inventory management system. Conducting audits on a monthly, quarterly, or annual basis allows you to identify trends in inventory movement, helping you pinpoint areas for improvement. By utilizing cycle counting, you can improve accuracy by focusing on high-demand items more frequently, ensuring critical stock levels are maintained. This comparison not only aids in adjusting your inventory management processes but also enhances your forecasting and reduces holding costs. In addition, regular audits are fundamental for compliance with industry regulations and can detect issues like theft or spoilage before they lead to significant financial losses, safeguarding your business’s bottom line. Identify Discrepancies Promptly Regular inventory audits play a pivotal role in identifying discrepancies quickly, ensuring your records align with physical counts. Aim to conduct these audits monthly or quarterly to maintain accuracy. Utilizing cycle counting techniques can help you focus on high-demand items, allowing for more frequent checks and faster resolution of inaccuracies. Implementing barcode scanning systems streamlines the counting process, reducing human error during audits. When discrepancies arise, analyze them by comparing physical counts with expected amounts to identify root causes. Adjust your inventory management practices based on this analysis. Regular audits not only improve inventory accuracy but also support compliance with financial reporting standards, enhancing overall operational efficiency. By staying proactive, you can better manage your inventory and reduce costly errors. Analyze Supplier Performance To effectively manage your inventory, you need to assess your suppliers’ delivery reliability and monitor their order fulfillment. Regularly tracking these factors helps guarantee that your materials arrive on time and meet quality standards, which is essential for maintaining production schedules. Assess Delivery Reliability Evaluating delivery reliability is crucial for maintaining an efficient manufacturing operation, as it directly impacts your inventory management strategy. Regularly assess supplier performance metrics, focusing on on-time delivery rates and order fulfillment accuracy. Establish clear communication channels with suppliers to address issues swiftly and build a collaborative relationship. Consistently monitor lead times and analyze historical data to identify trends, helping you make proactive adjustments to your inventory strategies. Implement a supplier scorecard system to rate suppliers on key performance indicators (KPIs), facilitating informed decisions regarding potential changes or negotiations. Moreover, diversify your supplier base to reduce risks associated with relying on a single source, ensuring a resilient supply chain that can maintain inventory levels during disruptions. Monitor Order Fulfillment Monitoring order fulfillment is essential for ensuring that your manufacturing processes run smoothly and efficiently. Regularly assess supplier performance metrics, like on-time delivery rates and order accuracy, to confirm that suppliers meet your business needs. Establish performance benchmarks and conduct quarterly reviews to identify improvement areas as you encourage open communication about expectations. Implement a Supplier Relationship Management (SRM) system to streamline evaluations and keep organized performance records for better decision-making. Use data analytics to spot trends in supplier performance, allowing you to adjust inventory strategies proactively, reducing the risk of stockouts or delays. Finally, develop contingency plans for high-risk suppliers to mitigate potential disruptions and maintain continuity in your manufacturing processes during supply chain challenges. Practice the 80/20 Inventory Rule In the process of managing inventory, it’s essential to recognize that not all items contribute equally to your profits. The 80/20 inventory rule, or Pareto Principle, asserts that around 80% of your profits come from just 20% of your inventory items. By identifying this top 20%, you can focus your resources on high-value products, leading to better inventory turnover. Regularly analyzing your inventory helps maintain this focus, ensuring you align suppliers and production schedules with your most profitable items. Implementing the 80/20 rule can minimize excess stock and streamline your operations. In the end, this approach improves decision-making regarding reordering and stocking strategies, greatly enhancing your cash flow management and overall efficiency in manufacturing. Be Consistent in How You Receive Stock To maintain consistency in how you receive stock, it’s essential to establish standardized procedures that everyone follows. This includes training your staff regularly on these processes, ensuring they know how to verify shipments against purchase orders and document any discrepancies. Standardize Receiving Procedures Standardizing receiving procedures is essential for effective inventory management. By establishing consistent methods for receiving stock, you can reduce errors in inventory records by as much as 20%. Utilize checklists to verify quantities, quality, and specifications against purchase orders, which helps identify discrepancies swiftly. Implementing a designated receiving area in your warehouse can streamline the flow of incoming goods, decreasing receiving time by up to 30%. Use checklists to improve accuracy and accountability. Designate a specific area for receiving goods to boost efficiency. Regularly review and update procedures based on feedback and operational needs. These steps won’t just improve accuracy but will also nurture a culture of accountability among your staff, ultimately improving your inventory management processes. Train Staff Regularly Training staff regularly is vital for maintaining consistency in how stock is received and recorded. Regular training sessions help you understand best practices in inventory management, minimizing errors and discrepancies. By implementing standardized receiving processes, such as using checklists or digital tools, you can improve accuracy and guarantee all items are accounted for upon arrival. Consistent training on inventory management software allows you to efficiently track stock levels, boosting visibility across the supply chain. Reinforcing the importance of proper documentation during stock receipt, including lot numbers and expiration dates, prevents issues related to spoilage and compliance. Regular refresher courses on inventory handling and receiving procedures keep you updated on any protocol changes, leading to improved overall operational efficiency. Track Sales for Effective Inventory Management Effective inventory management hinges on the ability to track sales accurately and consistently. Maintaining accurate daily sales data allows you to update inventory in real-time, reflecting current demand and minimizing stockouts or overstock situations. Analyzing sales trends helps identify seasonal patterns, enabling you to forecast better and align inventory with customer demand. Implementing a robust point-of-sale (POS) system can streamline this process, providing insights into item performance. Regularly monitor sales data against inventory levels to recognize slow-moving items. Use sales data to inform reorder points and quantities, optimizing inventory management. Take proactive measures, such as discounts, to clear excess stock and reduce carrying costs. Order Restocks Proactively Once you’ve established a solid framework for tracking sales, the next step is to order restocks proactively. To guarantee timely replenishment, establish reorder points based on historical sales data and lead times. Utilize automated reorder alerts within your inventory management software to streamline the restocking process. Analyze demand trends to adjust reorder quantities, avoiding both overstocking and understocking. Implement a just-in-time (JIT) inventory approach to minimize holding costs. Regularly review supplier performance to confirm reliable deliveries. Action Benefits Frequency Set reorder points Prevent stockouts Regularly Use automated alerts Streamline restocking Ongoing Analyze demand trends Optimize inventory levels Monthly Implement JIT Maximize cash flow As needed Review suppliers Guarantee timely deliveries Quarterly Invest in Inventory Management Technology Investing in inventory management technology is vital for modern manufacturers seeking to improve efficiency and accuracy. By implementing advanced systems, you can achieve real-time tracking of stock levels, reducing discrepancies and enhancing order accuracy by up to 20%. Utilizing tools like barcode scanners and RFID technology can further boost inventory tracking efficiency, leading to quicker stock audits and reducing manual errors by over 30%. Furthermore, cloud-based solutions offer scalability and better collaboration with suppliers, potentially lowering lead times by 15%. Here are some key benefits of investing in this technology: Predictive analytics powered by IBM can forecast demand with up to 95% accuracy. Automation tools can save you an average of 30% in labor costs. Enhanced tracking improves overall operational efficiency. Use Integration-Friendly Inventory Management Tools To improve inventory management further, using integration-friendly tools can greatly streamline operations. These tools improve communication between various systems, providing real-time updates on inventory levels across platforms, which boosts supply chain efficiency. Equipped with APIs, they facilitate seamless connections with SAP and Salesforce systems, allowing for better data sharing and analysis. Additionally, cloud-based inventory management solutions enhance accessibility and collaboration among team members and suppliers, supporting remote work and global operations. Advanced analytics features enable you to forecast demand more accurately, optimizing inventory levels and reducing the risk of stockouts or excess inventory. Implementing these tools can lead to significant cost savings by minimizing manual tracking errors and reducing labor costs associated with inventory management processes. Frequently Asked Questions What Are the 5 Steps to Effective Inventory Systems? To create effective inventory systems, start by defining your inventory needs, categorizing items like raw materials and finished goods. Next, implement an inventory management system for real-time tracking and data analysis. Establish reorder points based on sales velocity to avoid stockouts. Conduct regular audits and cycle counts to guarantee accurate records. Finally, analyze supplier performance to maintain timely deliveries and ideal inventory levels, supporting a smooth production process. How Do You Manage Inventory in Manufacturing? To manage inventory in manufacturing, start by implementing Just-in-Time (JIT) practices to minimize excess stock and reduce costs. Use Economic Order Quantity (EOQ) calculations to find the most cost-effective order size. Regularly conduct cycle counts and physical audits to verify accuracy in stock levels. Categorize your inventory with ABC Analysis to prioritize high-value items, and invest in technology for real-time tracking, which will improve your demand forecasting and decision-making processes. What Are the Five Principles of Inventory Management? The five principles of inventory management are crucial for effective operations. First, you need to know your inventory, tracking all types accurately. Second, demand forecasting helps you predict future needs using historical data. Third, implementing an efficient reordering system guarantees timely stock replenishment. Fourth, regular inventory audits maintain accuracy by checking physical stock against records. Finally, utilizing technology improves tracking and provides real-time visibility, streamlining your inventory management processes considerably. What Are the Golden Rules of Inventory Management? The golden rules of inventory management include maintaining accurate records, implementing reorder points, and conducting regular audits. You should classify your inventory using ABC analysis, focusing on high-impact items. Leverage technology, such as inventory management software, for real-time tracking and analytics. These practices help prevent stockouts and overstock situations, optimize operational efficiency, and guarantee your inventory aligns with demand. Following these rules can greatly improve your inventory management efforts. Conclusion Effective manufacturing inventory management is essential for optimizing operations and increasing profitability. By prioritizing inventory, tracking product information, and auditing regularly, you can guarantee accuracy and efficiency. Analyzing supplier performance and practicing the 80/20 rule helps focus resources where they matter most. Proactively ordering restocks and investing in technology streamlines processes, as integration-friendly tools elevate overall management. By implementing these strategies, you can effectively align inventory with demand, reduce excess stock, and improve your bottom line. Image Via Envato This article, "10 Essential Tips for Effective Manufacturing Inventory Management" was first published on Small Business Trends View the full article

Class action lawsuits accuse the lender and servicer of negligence over the incident which compromised the sensitive data of tens of thousands of customers. View the full article

Connecticut banking officials cited a series of alleged violations, including false and misleading statements and failure to maintain complete loan files. View the full article

An experimental medication made from marijuana successfully reduced back pain in a new study, offering further support for the drug’s potential in treating one of the most common forms of chronic pain. The 800-patient study by a German drugmaker is the latest evidence of the therapeutic properties of cannabis, which remains illegal under U.S. federal law even as most states have made it available for medical or recreational use. Health officials in Canada and Europe have previously approved a pharmaceutical-grade form of cannabis for several types of pain, including nerve pain due to multiple sclerosis. In the U.S., the Food and Drug Administration has approved a drug containing CBD — one of the many non-intoxicating chemicals found in cannabis — to treat rare seizures in children with epilepsy. Unlike that drug, known as Epidiolex, the new cannabis formula from drugmaker Vertanical contains THC, the active ingredient in marijuana that gets users high. But levels of the chemical are very low, essentially a microdose compared to what’s available in gummies, chocolate bars, and other products sold at marijuana dispensaries in the U.S. The company said patients in the trial didn’t show any signs of drug abuse, dependence, or withdrawal. Vertanical is seeking approval for a large group of patients: those suffering from lower-back pain, a chronic condition that affects millions and has few proven treatments. Over-the-counter pain relievers like ibuprofen can’t be used for long-term pain because of their side effects, which include stomach ulcers and indigestion. Opioids are no longer recommended, after the overprescribing of painkillers such as OxyContin in the 1990s and 2000s led to the ongoing epidemic of addiction to that class of drug. Chronic pain is one of the most frequently cited conditions of people enrolled in state-run medical marijuana programs. But there’s been little rigorous research on the drug’s use in that group. Lead study author Dr. Matthias Karst said in an email that the new findings show cannabis “can significantly reduce pain and improve physical function in patients with chronic low-back pain, without the safety concerns commonly associated with opioids.” Karst is a pain specialist at Hannover Medical School and a consultant for Vertanical. For the new study, patients with back pain were randomly assigned to take Vertanical’s proprietary liquid cannabis extract or a placebo. At the end of 12 weeks, patients taking the medication reported a nearly 2-point reduction in pain on an 11-point scale, compared with 1.4 points for those taking placebo. The difference was statistically significant. Those getting the drug also reported improvements in sleep and physical function. Patients who continued with a six-month extension phase continued to experience reductions in pain. The results were published Monday in the journal Nature. Side effects included dizziness, headache, fatigue, and nausea, and led to more than 17% of people discontinuing the drug early. Researchers said that the dropout rate was lower than what’s typically reported with opioids, which can cause constipation, nausea, drowsiness, and carry risks of addiction. Vertanical has filed an application for its drug with European regulators. In the U.S., the company says it is “working closely” with regulators to design a study to support FDA approval. ___ The Associated Press Health and Science Department receives support from the Howard Hughes Medical Institute’s Department of Science Education and the Robert Wood Johnson Foundation. The AP is solely responsible for all content. —Matthew Perrone, AP health writer View the full article

Comcast said on Monday it will appoint President Michael Cavanagh as co-CEO, adopting a dual chief executive model as the company prepares to spin off several NBCUniversal cable networks as part of a restructuring. Cavanagh will take up the new role in January and also join the company’s board, serving alongside Brian Roberts, who will continue as chairman and co-CEO. Several high-profile firms such as Oracle and Netflix have adopted a co-CEO model to better manage their operations as they become more complex and globally diversified. Comcast plans to spin off its NBCUniversal cable channels, including USA Network and CNBC, into a new company called Versant later this year amid shifting market dynamics and growing interest in streaming platforms. “He is the ideal person to help lead Comcast as we manage the pivot we are making to drive growth across the company,” Roberts said in a statement. Comcast is also planning a restructuring of its largest business unit, connectivity and platforms that includes Xfinity internet, mobile and pay TV services, Reuters reported earlier this month. It plans to eliminate a layer of management and cut jobs as part of efforts to centralize operations. The company is also working to turn around its broadband business, which has faced intense competition from wireless telecom providers that are aggressively promoting internet and mobile bundle deals. Comcast has responded by introducing national pricing, five-year price guarantees, and bundled mobile and broadband packages. Cavanagh joined Comcast as its finance chief in 2015. He was previously also the JPMorgan’s CFO for six years, and co-head of the financial giant’s corporate and investment bank. —Harshita Mary Varghese, Reuters View the full article

Brave launches Ask Brave, a unified interface that shows chat answers alongside links, videos, and products. The post Brave Introduces Ask Brave, A Unified AI Search Interface appeared first on Search Engine Journal. View the full article

Did you know you can customize Google to filter out garbage? Take these steps for better search results, including adding my work at Lifehacker as a preferred source. My omnipotent social media algorithms know I'm a sucker for trendy fitness content. What's interesting about today's fitness influencers is they sound nothing like the boot camp battle cries of the past decade. Quite the opposite, really. Instead of "no pain, no gain," think soft lighting, cozy socks, and your favorite comfort show playing in the background. Welcome to "Cozy Cardio"—TikTok's antidote to workout burnout. "Cozy cardio" is all about prioritizing comfort and enjoyment over intensity and intimidation. If you've ever felt like traditional fitness culture wasn't for you, this gentler philosophy might be exactly what you need to rediscover the joy of moving your body. What is cozy cardio?Picture this: You're in your softest sweatpants, a candle is flickering nearby, your favorite show is queued up, and you're walking on a treadmill or pedaling on a stationary bike—not to hit a specific target or beat a personal record, but simply to move. At its core, the "cozy" in cozy cardio is about creating a low-pressure, comfortable environment for low-impact cardiovascular exercise. This trend began with TikTok creator Hope Zuckerbrow back in 2022, who coined the term when she started posting her early-morning cardio routines. It regularly crops up again and again, with creators sharing their relaxed workout setups, complete with mood lighting, comforting beverages, and zero pressure to push past their limits. The message behind all these video is that if you feel alienated by high-intensity workout culture, well, get cozy with it. Celebrity trainer Kollins Ezekh sees a clear reason for its popularity: "I think it's taking off because it makes working out feel less like a chore. For years, fitness was pushed as 'go hard or go home.' Cozy Cardio flips that—it's about moving your body in a way that feels good, not punishing. People can finally picture themselves enjoying the process, and that's powerful." Why cozy cardio might work for youTraditional fitness culture often frames exercise as something you must endure—a punishment for eating dessert or a means to "earn" your rest. This creates a negative association with movement, making it feel like one more demanding item on an endless to-do list. What I love about cozy cardio is that it reframes exercise as self-care rather than self-correction. By pairing movement with comforting elements, it becomes something you actually look forward to—a peaceful ritual, rather than an obligation. Ezekh emphasizes the importance of environment in this shift: "The atmosphere matters. If you dim the lights, light a candle, or throw on your favorite show while you move, it creates a calming routine. You're still getting the endorphins from exercise, but the cozy setting tells your body to relax. It turns a workout into something that helps you decompress instead of adding more stress to your day." Personally, I've found low-impact cardio still delivers in terms of mental benefits. And this is coming from someone who loves already high-intensity cardio. But it's regular walking, light cycling, or gentle movement that seriously boosts my mood and reduces stress. Plus, it comes without the joint strain or exhaustion that I risk with my high-intensity training. How to create your own cozy cardio routineReady to embrace this kinder approach to fitness? Here's how to build a cozy cardio practice that actually sticks. Set the mood: Transform your workout space into a sanctuary. Dim the overhead lights or use lamps for softer illumination. Light a candle with your favorite scent. Play calming music, an engaging podcast, or binge-worthy television. The goal is to create an environment where you feel relaxed and at ease, not on edge or pressured. Choose comfortable movement: Select low-impact activities that feel sustainable: walking on a treadmill, using a stationary bike, stepping in place, gentle dancing, or using an under-desk elliptical. The intensity should feel manageable—you should be able to hold a conversation while moving. Dress for comfort: Forget restrictive athletic wear if it doesn't serve you. Wear your softest loungewear, favorite oversized hoodie, or whatever makes you feel cozy. The only requirement is that your clothing allows you to move freely. Start small and build consistency. Ezekh advises keeping expectations realistic: "Keep it simple—walk on a treadmill while watching Netflix, hop on a bike with a podcast, or do light movement in the evening instead of scrolling your phone. Even 10–15 minutes goes a long way. Results come from consistency, not punishment, and cozy cardio makes it easier to show up again and again." Make it a ritual: Designate a specific time for your cozy cardio session. Perhaps first thing in the morning with coffee, during your lunch break, or as an evening wind-down. When it becomes a predictable, pleasant part of your routine, you're more likely to maintain it. Remove the pressure: Let go of tracking every metric. You don't need to monitor your heart rate, count calories burned, or beat yesterday's performance. If you feel like going for twenty minutes instead of thirty, that's perfectly fine. The point is to move in a way that feels nurturing, not demanding. The bottom linePersonally, I'm a huge fan of this sort of cultural shift in how we approach wellness. It acknowledges that not everyone thrives in competitive fitness environments, that movement shouldn't feel punitive, and that exercise is most sustainable when it's actually enjoyable. This trend is particularly valuable for people who are rebuilding their relationship with movement after injury, illness, burnout, or disordered exercise patterns. It offers an entry point that feels safe and accessible, removing the intimidation factor that keeps many people from starting at all. Of course, cozy cardio isn't meant to replace all forms of exercise. Those who enjoy high-intensity workouts or competitive sports should absolutely continue those pursuits. But for the countless people who have struggled to maintain a consistent exercise routine because traditional fitness culture felt overwhelming or uninviting, this gentler approach offers a genuine alternative. The fitness industry has long operated on the assumption that motivation comes from pushing harder, going faster, and doing more. Cozy cardio suggests something different: that sometimes, the most powerful motivation comes from making movement feel like something you don't want to miss—because it's become the most peaceful, comforting part of your day. In a world that constantly demands more from us, there's something quietly revolutionary about a fitness trend that asks for less—less intensity, less pressure, less punishment—and offers more: more enjoyment, more sustainability, and more compassion toward yourself. So dim those lights, turn on your favorite show, and give yourself permission to move gently. View the full article

CSX railroad announced Monday that it had replaced its CEO less than two months after an investment fund urged it to either find another railroad to merge with to better compete with the proposed transcontinental Union Pacific railroad or fire outgoing CEO Joe Hinrichs. The outgoing CEO, who came to the railroad in 2022 after a long career with Ford, focused on repairing CSX’s relationship with its workers and labor unions and unifying the team after a bitter contract fight. But Ancora Holdings, which helped spur major changes at Norfolk Southern, said CSX’s operating performance deteriorated significantly under Hinrichs’ leadership. Hinrichs resigned to clear the way for Steve Angel to become CEO effective Sunday. Angel, 70, also comes from outside the rail industry although earlier in his career he oversaw GE’s locomotive building unit, so he does have that experience. CSX said he has 45 years experience leading large public companies, including most recently as CEO of Linde and Praxair. “We are excited to welcome Steve as our new CEO. He is a visionary in creating long-term value and an expert in guiding companies through significant transformation,” the railroad’s board Chairman John Zillmer said. CSX has been under pressure from Ancora and other investors since Union Pacific announced its $85 billion deal to acquire Norfolk Southern, which is CSX’s rival in the eastern United States. But both BNSF and CPKC railroads said they aren’t interested in a merger right now. Ancora said CSX has delivered disappointing shareholder returns and poor financial performance during Hinrichs’ tenure. But over the past year, CSX was working on two major construction projects — repairs from Hurricane Helene and a major tunnel renovation in Baltimore — that disrupted the railroad. Both those projects were just completed this month, so CSX’s performance was expected to improve in the fourth quarter. Angel promised to make improvements at the Jacksonville, Florida-based company, which is one of the six largest railroads in North America. “My top priorities will be to ensure the safety of the railroad and our employees, deliver reliable service to our customers, and increase value for our shareholders,” Angel said in a statement. —Josh Funk, AP transportation writer View the full article

A reader writes: I’ve been working at a university for eight years in the donor relations department. This past year has been really tough for the university budget-wise, for various political funding reasons. There was a round of layoffs in late April, where 10 out of the 60 people let go were in our unit (which has about 200 people). Another layer to consider is that our fundraising unit has gone through a massive reorg with a lot of roles being compressed with bigger portfolios. We used to have stewardship person in each faculty, now we have stewardship officers responsible for 3+ faculties. Our team is really flat, with the associate director having seven direct reports. I’ve been approached to take on a role where I would oversee four of those people as a manager. This is a first time manager role for me but I have already demonstrated a lot of leadership and mentorship. I was quite disappointed to hear that this new role would not come with a salary or job grade change. It was presented as a learning opportunity, but I sort of feel taken advantage of. I think I deserve a salary increase and if I don’t get one now, I won’t have as much leverage to negotiate if I wait to ask six months into the new role. Yes, they’re taking advantage of you. Managing four people is a significant increase in responsibility and you should be paid accordingly for it. I’m curious to know whether they’d be hiring for this position and advertising it to external candidates if you didn’t accept it. If they would be, they should absolutely pay you accordingly. But if they otherwise wouldn’t hire for it for budget reasons, it could become slightly less unreasonable; in that case, they might be seeing it as mutually beneficial. The idea would be that you get a management role that you might not be as competitive for if more experienced candidates were in the mix, and you can then parlay that into advancement and more money down the road (even if it not with them) … and in exchange, they get someone in that role. It’s still not fair — you deserve to be paid for a significant increase in work and responsibility — but I’d be slightly less irked by it, particularly given the context about the budget issues and layoffs. Ultimately it comes down to how much you want to get management experience. If it’s not something you really care about, that’s a lot of work to take on for no raise just because they offered it. If you do want management experience, which can be frustratingly hard to get for people who want to move in that direction, it might be worth it to you to do. If you do want to do the job, it’s reasonable to point out that it’s a significant increase in work and responsibility and ask to be paid fairly for that increase. They might not give you as much as they’d give a more experienced candidate, but you should get more than you’re getting now. If they really won’t budge, though, see if you can negotiate for a salary review (or outright raise) in six months. That’s not ideal, but it’s better than nothing. The post I was offered a promotion to manager but with no raise appeared first on Ask a Manager. View the full article

Executives urge ministers to follow through on promises to cut red tapeView the full article

FICO's claims about its 10T score highlight how its monopoly has stifled innovation and raised costs for homebuyers, according to the CHLA's Rob Zimmer. View the full article

Lufthansa announced on Monday it plans to cut thousands of workers as it aims to increase profitability and efficiency, in part by relying more heavily on artificial intelligence. The airline group said it will eliminate a total of 4,000 jobs worldwide by 2030, the majority of which will be in Germany—with a focus on administration roles, not operational ones. “The Lufthansa Group is reviewing which activities will no longer be necessary in the future, for example due to duplication of work,” the company said in a statement. “In particular, the profound changes brought about by digitalization and the increased use of AI will lead to greater efficiency in many areas and processes.” (The Lufthansa Group includes Germany’s Lufthansa, in addition to Austrian Airlines, Swiss, Brussels Airlines, and ITA Airways, the successor to Alitalia.) That restructuring will include the largest fleet modernization in the company’s history. To that end, the Lufthansa Group expects to add more than 230 new aircraft by 2030, including 100 long-haul aircraft. The Cologne-based German carrier said it plans to invest in the growth of its core business, expanding locations and its international presence, including in Canada and Portugal. It also plans to extend its digital business models, as part of its “Ambition 2030” program. The changes are expected to significantly increase revenue and profit by 2030. The airline also set new financial targets for 2028 to 2030, saying it expects its adjusted operating margin to reach 8-10% and over 2.5 billion euros in adjusted free cash flow per year. Lufthansa, like a number of companies including Klarna, Duolingo, and Salesforce, has recently turned to AI. Some of those companies even instituted “AI-first” workplaces as a way of slashing workforces toward greater profitability—but not without some missteps. According to a recent Nexford University survey, in the past year, around 65% of companies conducted layoffs, with 68% of companies identifying cost-cutting as the culprit, and 27% citing AI adoption. Lufthansa financials Lufthansa reported strong Q2 2025 results with considerable year-on-year growth, including a 27% increase in its operating profit compared to 2024, and a 3% increase in revenue (from €10 billion to €10.3 billion). Last year, Lufthansa increased its revenue by six percent year-on-year to EUR 37.6 billion as it offered more flights, making it the highest revenue in its history. However, the operating profit (adjusted EBIT) was EUR 1.6 billion, compared with EUR 2.7 billion the previous year, as the airline faced strikes and higher global costs. Lufthansa (Deutsche Lufthansa AG), which is traded under the stock ticker LHA on the Xetra and Frankfurt Stock Exchanges, closed up slightly on Monday. View the full article

Electronic Arts has announced plans to go private in what will be the largest leveraged buyout in history. The $55 billion purchase of the entertainment giant behind franchises that include Madden NFL and Battlefield is set to close in the first quarter of fiscal year 2027. Saudi Arabia’s Public Investment Fund (PIF) will be, by far, the majority investor in EA, one of the largest third-party publishers of video games. Silver Lake and Affinity Partners (whose CEO is Donald The President’s son-in-law Jared Kushner) will own minority interests. CEO Andrew Wilson will continue to head EA. The all-cash deal calls for a buyout of EA stock at a price of $210 per share. The company was trading at $202 per share Monday afternoon. On Thursday, before The Wall Street Journal reported a buyout was imminent, shares were trading at roughly $171. EA is a long-time stalwart in the video game industry, but like many publishers of late, has been somewhat stalled financially as the gaming boom of the pandemic has slowed considerably. In 2022, EA reported $7.2 billion in revenues. The following year saw an increase to just $7.6 billion and 2024 saw the figure at $7.4 billion. The stock has also lagged far behind the S&P 500’s gains. Was EA sold for too little? While the industry has been in the midst of a consolidation trend, both in terms of buyouts and revenues, some analysts think EA might have been undervalued in this deal. “While the $210 per share take-out price represents a substantial premium to EA’s unaffected trading levels, we continue to believe the transaction undervalues EA’s long-term earnings power,” wrote Benchmark’s Mike Hickey in a note to investors. “We value EA at $250 per share, with a best-case path to $300 if Battlefield evolves into the market share leader.” The leveraged buyout, Hickey argues, transfers what he expects will be a “franchise-defining growth cycle” to new owners before current shareholders can realize those gains. “In our view, this transaction is a self-serving, opportunistic move by management and the investor group,” he wrote. Wedbush’s Alicia Reese didn’t go quite so far as Hickey, but did point out that the purchase price (about 20X EBITDA) was a lower multiplier than the Activision deal (which worked out to 21.5X) and roughly on par with the industry average over the last five years of 19.8X. EA, with its rich catalog of IP would presumably be able to command a higher multiple. Boon for Riyadh Assuming the deal closes, the buyout will be a victory for the PIF, which has been expanding its interests in the video game world in recent years. The group holds stakes in several well-known publishers. Prior to Monday’s deal, the PIF owned roughly 10% of EA’s shares. It also holds 6.2% of Grand Theft Auto publisher Take-Two Interactive Software and 4.2% of Nintendo. This spring, it purchased Niantic, maker of Pokemon Go, for $3.5 billion and also paid $4.9 billion for Scopely, the maker of mobile gaming hit Monopoly Go. The deal comes as criticism continues about the Saudi Royal family’s record of human rights abuses. While the $55 deal is expected to set a record as far as leveraged buyouts (CNBC reports EA has 45 days to solicit a better offer, though the deal was unanimously approved by the company’s board), it still falls short of an overall industry record. Microsoft’s $69 billion buyout of Activision-Blizzard remains the industry’s most expensive acquisition to date. Microsoft faced several hurdles from regulators in the U.S. and U.K. as it attempted to close that purchase. The Microsoft/Activision deal closed in 2023. In July of this year, Microsoft announced plans to lay off 9,100 workers, with many of those cuts coming in the gaming division. (That followed an additional 6,000 jobs lost in May of this year.) View the full article

Here he is, depicted at six months in office, chiseled and brawny, as mighty as the very nation. Here he is as a Star Wars Jedi wielding a patriot-red lightsaber, rescuing our galaxy from the forces of evil. Here he is taking over Gaza, transforming the strip into a luxury resort complete with a golden effigy of himself. You can be anything, perhaps you were told growing up. Doctor. Astronaut. Maybe, one day, the president. But even the chief executive of the United States, the free world’s leader, frames himself as something more epic — as someone not entirely himself. On the social media accounts of Donald The President and his second-term administration, a new, less official image of the president is emerging bit by bit: one generated artificially. A sign of the times, certainly — when the appeal of reimagining yourself with artificial intelligence has trickled up from us everyday citizens. Bored with your selfies? Join a viral trend: There’s an image generator or a chatbot that can turn you into a Renaissance-style painting, a Studio Ghibli character, or an action figure with box art and accessories. Artificial imagery isn’t new for The President, an early target of AI-generated simulacra who later exploited the technology during his 2024 campaign for the presidency. “It works both ways,” the Republican president said of AI-generated content at a news conference earlier this month. “If something happens that’s really bad, maybe I’ll have to just blame AI.” The AI images of The President posted by him and his team opt for the alternative — not deceptive but self-evident in their fictitiousness. Pope Francis dies, and The President jokes to reporters that he’d like to be pope. A week later, he is, but in an AI-generated image that he posts, reposted by the White House. The President likens himself to a king in a Truth Social post in February, and AI makes him one in an X post by the White House less than an hour later. The artifice arrives in The President’s usual style — brassy, unabashed, attention-grabbing — and squares with his social media team’s heavy meme posting, which it has promised to continue. The administration’s official social media accounts have grown by more than 16 million new followers across platforms since Inauguration Day, a White House official told NBC News. The White House recognizes the appeal. In July, it posted to its X account: “Nowhere in the Constitution does it say we can’t post banger memes.” Attached to the post, a photo of a sign on the White House lawn parodying the naysayers: “oMg, diD tHe wHiTE hOuSE reALLy PosT tHis?” Behind the commander in chief’s desire to craft an AI self — not itself uncommon — an infantry of official communications channels stands at his ready. And we, the people, can’t help but tune in. Feelings don’t care about your facts Like so much on the internet these days, The President’s AI portraits are primed for people to react, says Evan Cornog, a political historian and author of “The Power and the Story: How the Crafted Presidential Narrative Has Determined Political Success from George Washington to George W. Bush.” “By the time you’ve seen it, you’ve understood it. And that’s, of course, the efficacy,” Cornog said. “It requires no effort, either for the person generating it, but particularly for the person consuming it.” The expressive power of political imagery, regardless of the truth of its message, has long been understood by politicians and their detractors. President William Henry Harrison’s log cabin and hard cider campaign symbols, representing him as a “man of the people,” helped him win the election of 1840. Thirty years later, political cartoonist Thomas Nast would turn public opinion against William Marcy “Boss” Tweed with his scathing portrayals of the politician, whom he depicted satirically overweight from greed. “Let’s stop those damned pictures!” Tweed once said, or so the story goes. The decades since witnessed the birth of photo, film, TV, the internet, computer printers, image-editing software and digital screens that shrank until they could fit in our pockets, making it increasingly easy to create and disseminate — and manipulate — imagery. By contrast, today’s generative AI technology offers greater realism, functionality and accessibility to content creation than ever before, says AI expert Henry Ajder. Not to mention, of course, a capacity for endless automated possibility. Past presidents “had to actually have fought in a war to run as a war hero,” Cornog says. Now, they can just generate an image of themselves as one. On a horse — or no, a battlefield. With an American flag waving behind him and an eagle soaring. The AI images of The President shared by him and his administration chase a similarly heroic vision of the president. Potency — his and the country’s — is a consistent theme, Cornog added. Indeed, generative AI allows for an exposure of perhaps uncomfortably intimate inner worlds as people use such technology to illustrate and communicate their “fantasy lives” or cartoonish versions of themselves, says Mitchell Stephens, author of “The Rise of the Image, the Fall of the Word.” But it can just as easily fulfill an inverse desire: to depict or reinforce a subjective concept of reality. “Quite a lot of people are sharing AI-generated content, which is clearly fake but is almost seen as a revelatory kind of representation of someone,” Ajder said. This content feeds a mentality that mutters, “We all know they’re really like this.” “And so, even if people know it’s fake,” Ajder said, “they still see it as kind of reflecting and satisfying a kind of truth — their truth about what the world is like.” Commenters take up the mantle The lack of subtlety in The President’s AI images of himself helps explain their consistent virality. Commenters can be found lamenting the demise of presidential decorum (“I never thought I’d see the day when the White House is just a joke. This is so embarrassing.”) or relishing those very reactions (“Watching the left explode over this has been a treat.”). Other responses, even from the president’s base, remain unconvinced (as one X user griped under the White House post of The President as pope: “I voted for you, but this is weird and creepy. More mass deportations and less of whatever this is.”). But that is tradition for The President, who finds no trouble cashing the currency of our attention economy: Whether you cracked a smile or clutched your pearls, he still made you look. “In his first administration, he used Twitter in a way no president had,” said Martha Joynt Kumar, director of the White House Transition Project, an organization that facilitates the transition between presidents. “What they do in this administration is taking it further, as you’ve had an increase in what can be done online.” Or, as one Reddit user referred to the president: “Troll in Chief.” Does The President really think he should be pope? Does the White House really think him a king? Accuracy isn’t the point, not for a man who frequently arbitrates what counts as truth. The President’s use of AI sticks to a familiar recipe for bait: crude comedy sprinkled with wishful thinking. “It’s fine,” The President said in May, when asked whether the AI-generated post of him as pope diminished the substance of the official White House account. “Have to have a little fun, don’t you?” —Luena Rodriguez-Feo Vileira, Associated Press View the full article

We may earn a commission from links on this page. Did you know you can customize Google to filter out garbage? Take these steps for better search results, including adding Lifehacker as a preferred source for tech news. The whole point of studying is to retain information you’ll need later in life, even if it’s just for an impending test on a subject you may never think about again in the future. That’s not easy when you’re taking in a bunch of unfamiliar phrases and concepts—which is why you need a quality method to structure your study sessions. Try the SQ3R technique next time you’re studying, and see the difference it can make. What is the SQ3R study method?I touched on a similar method briefly before when advising on best note-taking practices, but SQ3R has applications well beyond the moments when you’re taking notes in (and after) class. It’s actually a reading comprehension technique that was first introduced in 1946 by Francis P. Robinson in his book Effective Study. (Fun side note: The “P” stands for Pleasant!) SQ3R has withstood the test of time and is now widely recommended by academic counselors on campuses across the country. It’s named for the five steps involved in the method: Survey Question Read Recite Review How does SQ3R work?It’s important, first of all, to chunk up your work here. The goal is not to do this with an entire textbook or a bunch of materials, but to go chapter by chapter or section by section. You'll see why as you move through the steps, but just bear in mind you want to be hyper-focused on smaller sections. In general, chunking up your review work is a recommended practice and it works well with SQ3R and all kinds of other study approaches, so be sure to brush up on it while you're restructuring your study approach. SurveyYou survey your materials first, skimming them just enough to grasp what the overall idea is. Look at the chapter title, intros and conclusions, headings, sub-headings, graphics, tables, and summaries, but don’t read the whole thing. You can also call on contextual details here. If you got assigned to read this chapter in a lecture, think back on that class, especially on anything the teacher mentioned as being important. Go through any slideshows they uploaded as supplemental material, as well as any existing notes you have. Again, just skim, but get an idea of what, broadly, this section is about. QuestionThen, you come up with questions, like, “What is this section about?” or, “How will I use this information in real life?” The questions can be more specific than that and depend a lot on what the content of your chapter is. An easy trick is to turn subheadings into questions. If your subheading just says, “The assassination of Franz Ferdinand,” your question can be, “What were the immediate impacts of the assassination of Franz Ferdinand?” Something I like to do is ask myself, "How might this appear on a test?" If I'm reading about the founder of a movement, for instance, and they were born in a certain country in a particular year and those details were relevant to their rise to power, I'd assume there would be a question on that on the test, so I might be able to focus my studying better if I can anticipate that. ReadJot the questions down before moving on to the third step, which is finally reading the whole chapter or section, paying attention to anything that might answer your questions. Take notes. What helps here is writing the answers you find in the material directly under the questions you wrote down. Typically, I advocate for taking handwritten notes and studying with a pen and paper whenever possible, but here, you may find that you don't have enough room to answer the questions you write down or take notes on new information you find while reading. To be on the safe side (and stop yourself from making a disorganized, scribbled-out and erased-up mess) go ahead and use a word processing document for your questions and answers. RecitationThe next step is recitation. Use your own words to explain the contents of what you studied and answer your own questions. Pretend you’re explaining it to someone else or even write it all down in a small essay format. If you write it all down as a small essay, you'll be using the "blurting" method, or at least a variation of it. Blurting asks you to remember everything you can about a topic, then say or write it somewhere before checking your notes and materials for anything you missed. It forces active recall, or the act of digging something out of your memory. Here, don't feel too much pressure to remember everything; treat this more like an open-book test, especially if it's your first time through your review. You can use other techniques, like the Leitner flashcard method, to entrench the answers you find in your memory once you've got a grasp of the overall theme of the section. You can also go a step further and actually explain the material to someone. That's the Feynman method, which has you act like a teacher describing the content to someone who knows nothing about it. You can do this with a parent, a friend, or even ChatGPT. It helps you break the material down into easy-to-understand parts. If you don't understand something well enough to teach it to someone else, you don't understand it well at all. But again, incorporate this over time. You don't need to be ready for this step on your first run-through with SQ3R. It's just an easy way to gauge how well you're mastering a concept. ReviewFinally, review what you read, wrote, and/or said before starting the process again on another chapter. Feel free to move to another chapter or section before you have a firm grasp of the current one, too. Called interleaving, this practice of studying multiple concepts or ideas at once can force you to make connections between material and better understand both topics than if you were tackling them individually. The purpose of all of this is to get you thinking critically and help you stay engaged as you read, hunting for the answers to your questions. From there, you can branch off into the other techniques I mentioned, like Leitner and Feynman, because you created a solid base of chunks of information—questions and answers from the text, essentially—to study. Best practices with SQ3RI mentioned earlier that you might want to use a word processor or notes app for this, so you don't run out of space or get frustrated. You do have other options if handwriting and its benefits appeal to you. In that case, I recommend picking up a SQ3R notebook. It's only $6, and it provides designated spaces for the different steps; plus, since the sections are pre-defined, it forces you to take on your work in smaller chunks because you don't have room on the page to try to do too much at once. Play around with different methods, from digital to notebook, to see what works for you and the material you study. Finally, don't assume you've reached the end of studying when you hit the review portion of SQ3R. Studying is a long-term endeavor, so that "review" part is actually ongoing from the time you first get acquainted with the material. After you finish your first round of SQ3R, study the materials periodically, every few days. If, after a few reviews, you feel like you're not grasping the material as well as you want to, try the SQ3R method again on the same chunk of text you already did, formulating different questions and looking for other angles. Once you're more familiar with the topics, you'll come up with more in-depth questions, so repeating SQ3R a few times over a semester is a smart strategy. View the full article

On September 25, Starbucks CEO Brian Niccol informed his employees in a public memo that the company would be cutting 900 corporate roles and closing down stores. However, the memo didn’t share exactly how many stores would close and where they’re located—leaving employees scrambling to compile that information on their own. Starbucks is framing the restructuring as a part of Niccol’s broader “Back to Starbucks” plan, a sweeping initiative designed to return Starbucks to its heyday in the mid-2010s. That includes redesigning store interiors, rethinking menus, and making the ordering experience feel less “transactional.” As of right now, Starbucks is still on shaky financial ground, facing a six-quarter streak of same-store sales declines. It appears that the new job and store cuts are intended to set Starbucks up for the next phase of Niccol’s turnaround plan. “During the review, we identified coffeehouses where we’re unable to create the physical environment our customers and partners expect, or where we don’t see a path to financial performance, and these locations will be closed,” Niccol wrote in his recent memo. While Niccol’s letter shared a broad sense of the reasoning behind the move, it skirted around giving exact figures on store closures, only noting that employees would be informed within the week if their location is shutting down. For employees, that’s meant gathering on Reddit forums, shared spreadsheets, and Google Maps to figure out just how many coffeehouses are closing down. How many Starbucks locations are closing? In his note, Niccol wrote that, “our overall company-operated count in North America will decline by about 1% in fiscal year 2025 after accounting for both openings and closures,” adding that the company will end the fiscal year with nearly 18,300 locations in the U.S. and Canada. However, given that the 1% number accounts for both openings and closures, it’s unclear exactly how many stores are actually closing. Reached for comment by Fast Company, Starbucks declined to share details about the fate of specific locations. It said customers were informed via emails and signage and that the Starbucks app has already been updated to reflect the closures. Given this uncertainty, employees are taking the tabulation into their own hands. In the subreddit r/Starbucks, several threads discussing the closures have amassed hundreds of comments from employees and customers. Moderators of the subreddit have begun directing users to update a shared Google Sheet with confirmed closures. As of this writing, the document contains over 520 locations across the U.S. Redditors are also actively compiling the spreadsheet’s results into a map format that designates each store by its status in Starbucks’ union. Starbucks did not provide a comment on the accuracy of the list, and it’s important to note that this is an active, crowdsourced document. However, many of the stores indicated on the spreadsheet have disappeared from Starbucks’ store locator tool or are marked “permanently closed” on Google. Starbucks Workers United, a union that represents baristas at some locations, referred Fast Company to a statement it released last week in the wake of Niccol’s announcement. The statement opens by claiming that things are only going “Backwards at Starbucks” under Niccol’s leadership. “Yet again, we’re experiencing new policies and major decisions being made with zero barista input,” the union wrote. “Workers United is sending a formal request for information to Starbucks about the planned closures. We expect to engage in effects bargaining for every impacted union store, as we have done elsewhere, so workers can be placed in another Starbucks store according to their preferences.” View the full article

We may earn a commission from links on this page. Did you know you can customize Google to filter out garbage? Take these steps for better search results, including adding my work at Lifehacker as a preferred source. CMF, the budget-friendly sub-brand from Nothing, has launched its first pair of over-ear headphones. At $99, the CMF Headphone Pro are Nothing's answer to fans looking for an affordable alternative to the popular Headphone 1 (which will cost you $299). Though Nothing has a reputation for odd-looking tech, the CMF Headphone Pros look a little more traditional, but also appear to be highly customizable, potentially making them a better value overall. Here's what we know now about how the CMF Headphone Pros compare. What the CMF Headphone Pros offerToday's launch marks the release of CMF's first over-ear headphone, designed to integrate seamlessly with the broader Nothing/CMF ecosystem that includes smartphones, watches, and other audio products. The design includes a round power and Bluetooth button on one side, paired with a customizable action button on the other that can be programmed through the Nothing X app. There's more room for customization via $25 replacement ear cushions, available in vibrant orange or light green, allowing you to dramatically alter the headphones' appearance to match your mood or style. The standout control feature is the multi-function roller on one side, with an "Energy Slider" on the other. The multi-function roller handles volume adjustment, playback control, and ambient sound, while the Energy Slider allows you to tune your sound in real-time, instantly adjusting the treble and bass balance. Normally you'd have to dive into your headphone app's EQ settings to get that sort of control. As someone who always prefers tactile controls over sensitive touch-screens, I'm particularly excited by this design. And as you'd hope to find in a quality pair of over-ear headphones, the Headphone Pro has Adaptive Active Noise Cancellation (ANC) to block ambient noise. Perhaps most impressive is the battery life: allegedly, these headphones will offer a staggering 100 hours of playback on a single charge (reduced to up to 50 hours with ANC turned on). That's 15 more hours than you’ll get from the Headphone 1 with ANC active, and much better performance than the highly rated Sony WH-1000XM6, which top out at 40 hours. The bottom line This is a promising product launch from Nothing. The CMF sub-brand appeals to budget-conscious segment of the market while still delivering on the aesthetic and technical appeal that drew fans to Nothing in the first place. The CMF Headphone Pro launches today in the EU and UK, but eager US customers do have to face a brief wait until Oct. 7 to get their hands on a pair. Whether these headphones will satisfy fans who have been requesting a more affordable option remains to be seen, but on paper, they appear to deliver exactly what was asked for: Nothing's design philosophy and build quality at a price that won't break the bank. View the full article

A Marketing Strategy Consultant helps businesses develop effective marketing plans customized to their goals. They conduct market research to analyze consumer behavior and competitor strategies, identifying target markets. By creating thorough marketing campaigns that integrate digital and traditional methods, they guarantee peak performance through data analysis. They likewise provide strategic guidance to improve marketing efforts. Comprehending their key responsibilities can clarify how they drive business success and improve marketing outcomes. What specific aspects of their role are most vital? Key Takeaways Conducts market research to identify trends and target audiences, using surveys and competitor analysis. Develops tailored marketing strategies aligned with clients’ business goals and customer preferences. Creates comprehensive marketing plans that outline initiatives, timelines, and budgets for effective execution. Monitors and analyzes campaign performance using analytics tools to provide actionable insights. Collaborates with clients’ marketing teams to ensure cohesive and effective strategy implementation. Key Responsibilities of a Marketing Strategy Consultant As a marketing strategy consultant, you’ll plunge into market research and analysis to pinpoint trends and target markets. You’ll create thorough marketing plans that detail key initiatives, tactics, timelines, and budgets to meet specific client goals. Utilizing marketing consulting services, you’ll monitor the performance of campaigns, employing analytics tools to evaluate effectiveness and make data-driven recommendations. Your role includes providing strategic guidance on best practices, helping clients set SMART goals as you optimize their marketing mix based on consumer preferences. Collaborating with clients’ marketing teams is essential to guarantee cohesive execution of strategies. Fundamentally, grasping the marketing consultant definition is significant as you contribute to implementing effective digital marketing strategy services and overall marketing management consulting services for the consulting business. Conduct Market Research and Analysis Conducting market research and analysis is crucial for developing effective marketing strategies that resonate with your target audience. A marketing strategy consultant gathers data on consumer demographics, preferences, and buying patterns to inform strategic decisions. They analyze competitor activities using SWOT analysis, identifying market opportunities and threats. Utilizing surveys and focus groups, they assess consumer behavior, gaining insights into customer preferences. This data allows consultants to pinpoint patterns that guide marketing efforts. Key Activities Purpose Gather Consumer Data Understand target audiences Analyze Competitor Strategies Identify market opportunities Conduct Surveys and Focus Groups Assess consumer behavior Develop Tailored Marketing Strategies To develop customized marketing strategies, you need to align your efforts with your business goals and clearly identify your target audiences. Start by analyzing market research to understand who your customers are and what they want. This focused approach allows you to create effective messaging that resonates with your specific audience segments. Align With Business Goals Aligning your marketing strategies with your business goals is vital for achieving long-term success. As you work with marketing consulting firms, it’s important to guarantee your strategies contribute directly to your overall objectives. A business marketing consultant typically conducts thorough market research and analyzes consumer behavior, helping you craft unique selling propositions that set you apart. By leveraging the expertise of a growth strategy consulting firm, you can define key performance indicators to measure your marketing effectiveness. Engaging with a digital marketing strategy company can additionally help tailor your messaging based on audience segmentation. Utilizing the best marketing consulting firms guarantees your marketing efforts align seamlessly with your business goals, fundamentally driving growth and enhancing customer engagement. Identify Target Audiences Identifying target audiences is essential for developing effective marketing strategies that resonate with potential customers. A digital marketing consultant uses market research to analyze consumer demographics, preferences, and behaviors. By segmenting target audiences based on criteria like age, income, and interests, you can craft customized marketing strategies that speak directly to each group. Criteria Example Insights Age 18-24 Trendy products preferred Income $40,000 – $60,000 Value-driven purchases Interests Outdoor activities Eco-friendly offerings Location Urban areas Convenience-focused options Establishing unique selling propositions (USPs) differentiates your brand, allowing you to reach target audiences more effectively through your marketing consulting agency or growth consulting services. Create Comprehensive Marketing Plans and Campaigns Creating thorough marketing plans and campaigns requires a structured approach that aligns with your business objectives and market demands. As a marketing strategy consultant, you’ll create all-encompassing marketing plans that outline key initiatives, tactics, timelines, and budgets. These plans include specific campaigns targeting identified demographics, using buyer personas for compelling messaging. You’ll set measurable goals and key performance indicators (KPIs) to track campaign performance, ensuring your strategies remain actionable and results-driven. Incorporating both digital and traditional marketing elements allows for a holistic approach to audience engagement. Continuous monitoring and adjustment of campaigns are crucial, enabling you to optimize strategies based on real-time performance data and market conditions. This method supports consulting for business growth and market expansion effectively. Provide Data Analysis and Insights Understanding your marketing performance is crucial for success, and data analysis plays a key role in that process. As a marketing strategy consultant, you’ll analyze marketing performance data using analytics tools to track customer engagement and behavior. Collect data from various sources, including market research, surveys, and website analytics, to gain a thorough view. By employing data visualization techniques, you can uncover patterns and provide actionable recommendations. Measure key metrics like conversion rates and return on investment (ROI) to guarantee your digital marketing strategy for consulting firms aligns with industry trends. Reporting your findings will facilitate informed decision-making, helping stakeholders adjust their strategies based on data-driven insights, ultimately enhancing future marketing efforts. Offer Strategic Guidance and Recommendations With a solid comprehension of data analysis, you’re now ready to focus on offering strategic guidance and recommendations. As a marketing strategy consultant, you’ll align marketing efforts with business objectives, ensuring strategies meet your clients’ specific goals. Utilize your role as a digital marketing advisor to help set SMART marketing goals, enabling effective tracking of progress. Consider these key areas: Evaluate and optimize the marketing mix (product, price, place, promotion). Collaborate with clients to refine brand identity and positioning. Provide insights on budget allocation to maximize ROI. Monitor Campaign Performance and Optimize Tactics To effectively monitor campaign performance and optimize tactics, you’ll need to focus on key metrics that reveal how well your marketing efforts are resonating with your audience. Engage with an online marketing advisor or hire a marketing consultant to analyze engagement rates, conversion rates, and ROI. These professionals utilize analytics tools to track customer interactions, identifying trends that inform your strategy. Conduct A/B testing on campaign elements to discover which tactics work best. Regularly review data to make data-driven recommendations for improving performance. Furthermore, assess industry trends with a search marketing consultant to guarantee your strategies remain effective. Partnering with digital marketing consulting companies or a digital marketing advisor can further improve your ability to optimize tactics and achieve your goals. Frequently Asked Questions What Is the Role of a Marketing Consultant? A marketing consultant guides you in crafting and implementing effective marketing strategies. They analyze market trends, consumer behavior, and competitor tactics to develop customized plans for your business. You’ll benefit from their insights as they monitor and optimize your marketing campaigns, ensuring they align with your goals. Moreover, they collaborate with your team, offering training and support to improve the execution of marketing initiatives, eventually driving better results for your business. What Are the 4 Things of Marketing Strategy? To develop an effective marketing strategy, you should focus on four key components. First, conduct thorough market research to understand consumer preferences and trends. Next, identify your target audience by segmenting based on demographics and behaviors. Third, establish unique selling propositions (USPs) that differentiate your brand from competitors. Finally, create a marketing mix by balancing the 4Ps: Product, Price, Place, and Promotion to effectively reach your audience and achieve your objectives. What Is the Role of a Strategy Consultant? A strategy consultant’s role involves helping organizations identify their goals and areas for improvement. You’ll conduct research on market trends and competitor strategies, developing actionable frameworks to tackle challenges. Do Marketing Consultants Make a Lot of Money? Yes, marketing consultants can make a lot of money, but it varies widely. Entry-level consultants might start lower, whereas experienced professionals can earn over $100,000 annually. Freelancers often experience fluctuating income, depending on their projects and clients. Specializing in high-demand areas like digital marketing, SEO, or social media strategy usually leads to better pay. Moreover, compensation packages may include bonuses and profit-sharing, further enhancing overall earnings. Conclusion In conclusion, a marketing strategy consultant plays an essential role in helping businesses succeed. By conducting thorough market research, developing customized strategies, and creating all-encompassing campaigns, they address specific client needs. Their use of data analysis guarantees informed decisions, whereas ongoing performance monitoring allows for continuous optimization. Engaging a consultant can improve your marketing efforts, provide valuable insights, and align your strategies with your overall business goals. This collaborative approach can greatly enhance your market positioning and effectiveness. Image Via Envato This article, "What Does a Marketing Strategy Consultant Do?" was first published on Small Business Trends View the full article

A Marketing Strategy Consultant helps businesses develop effective marketing plans customized to their goals. They conduct market research to analyze consumer behavior and competitor strategies, identifying target markets. By creating thorough marketing campaigns that integrate digital and traditional methods, they guarantee peak performance through data analysis. They likewise provide strategic guidance to improve marketing efforts. Comprehending their key responsibilities can clarify how they drive business success and improve marketing outcomes. What specific aspects of their role are most vital? Key Takeaways Conducts market research to identify trends and target audiences, using surveys and competitor analysis. Develops tailored marketing strategies aligned with clients’ business goals and customer preferences. Creates comprehensive marketing plans that outline initiatives, timelines, and budgets for effective execution. Monitors and analyzes campaign performance using analytics tools to provide actionable insights. Collaborates with clients’ marketing teams to ensure cohesive and effective strategy implementation. Key Responsibilities of a Marketing Strategy Consultant As a marketing strategy consultant, you’ll plunge into market research and analysis to pinpoint trends and target markets. You’ll create thorough marketing plans that detail key initiatives, tactics, timelines, and budgets to meet specific client goals. Utilizing marketing consulting services, you’ll monitor the performance of campaigns, employing analytics tools to evaluate effectiveness and make data-driven recommendations. Your role includes providing strategic guidance on best practices, helping clients set SMART goals as you optimize their marketing mix based on consumer preferences. Collaborating with clients’ marketing teams is essential to guarantee cohesive execution of strategies. Fundamentally, grasping the marketing consultant definition is significant as you contribute to implementing effective digital marketing strategy services and overall marketing management consulting services for the consulting business. Conduct Market Research and Analysis Conducting market research and analysis is crucial for developing effective marketing strategies that resonate with your target audience. A marketing strategy consultant gathers data on consumer demographics, preferences, and buying patterns to inform strategic decisions. They analyze competitor activities using SWOT analysis, identifying market opportunities and threats. Utilizing surveys and focus groups, they assess consumer behavior, gaining insights into customer preferences. This data allows consultants to pinpoint patterns that guide marketing efforts. Key Activities Purpose Gather Consumer Data Understand target audiences Analyze Competitor Strategies Identify market opportunities Conduct Surveys and Focus Groups Assess consumer behavior Develop Tailored Marketing Strategies To develop customized marketing strategies, you need to align your efforts with your business goals and clearly identify your target audiences. Start by analyzing market research to understand who your customers are and what they want. This focused approach allows you to create effective messaging that resonates with your specific audience segments. Align With Business Goals Aligning your marketing strategies with your business goals is vital for achieving long-term success. As you work with marketing consulting firms, it’s important to guarantee your strategies contribute directly to your overall objectives. A business marketing consultant typically conducts thorough market research and analyzes consumer behavior, helping you craft unique selling propositions that set you apart. By leveraging the expertise of a growth strategy consulting firm, you can define key performance indicators to measure your marketing effectiveness. Engaging with a digital marketing strategy company can additionally help tailor your messaging based on audience segmentation. Utilizing the best marketing consulting firms guarantees your marketing efforts align seamlessly with your business goals, fundamentally driving growth and enhancing customer engagement. Identify Target Audiences Identifying target audiences is essential for developing effective marketing strategies that resonate with potential customers. A digital marketing consultant uses market research to analyze consumer demographics, preferences, and behaviors. By segmenting target audiences based on criteria like age, income, and interests, you can craft customized marketing strategies that speak directly to each group. Criteria Example Insights Age 18-24 Trendy products preferred Income $40,000 – $60,000 Value-driven purchases Interests Outdoor activities Eco-friendly offerings Location Urban areas Convenience-focused options Establishing unique selling propositions (USPs) differentiates your brand, allowing you to reach target audiences more effectively through your marketing consulting agency or growth consulting services. Create Comprehensive Marketing Plans and Campaigns Creating thorough marketing plans and campaigns requires a structured approach that aligns with your business objectives and market demands. As a marketing strategy consultant, you’ll create all-encompassing marketing plans that outline key initiatives, tactics, timelines, and budgets. These plans include specific campaigns targeting identified demographics, using buyer personas for compelling messaging. You’ll set measurable goals and key performance indicators (KPIs) to track campaign performance, ensuring your strategies remain actionable and results-driven. Incorporating both digital and traditional marketing elements allows for a holistic approach to audience engagement. Continuous monitoring and adjustment of campaigns are crucial, enabling you to optimize strategies based on real-time performance data and market conditions. This method supports consulting for business growth and market expansion effectively. Provide Data Analysis and Insights Understanding your marketing performance is crucial for success, and data analysis plays a key role in that process. As a marketing strategy consultant, you’ll analyze marketing performance data using analytics tools to track customer engagement and behavior. Collect data from various sources, including market research, surveys, and website analytics, to gain a thorough view. By employing data visualization techniques, you can uncover patterns and provide actionable recommendations. Measure key metrics like conversion rates and return on investment (ROI) to guarantee your digital marketing strategy for consulting firms aligns with industry trends. Reporting your findings will facilitate informed decision-making, helping stakeholders adjust their strategies based on data-driven insights, ultimately enhancing future marketing efforts. Offer Strategic Guidance and Recommendations With a solid comprehension of data analysis, you’re now ready to focus on offering strategic guidance and recommendations. As a marketing strategy consultant, you’ll align marketing efforts with business objectives, ensuring strategies meet your clients’ specific goals. Utilize your role as a digital marketing advisor to help set SMART marketing goals, enabling effective tracking of progress. Consider these key areas: Evaluate and optimize the marketing mix (product, price, place, promotion). Collaborate with clients to refine brand identity and positioning. Provide insights on budget allocation to maximize ROI. Monitor Campaign Performance and Optimize Tactics To effectively monitor campaign performance and optimize tactics, you’ll need to focus on key metrics that reveal how well your marketing efforts are resonating with your audience. Engage with an online marketing advisor or hire a marketing consultant to analyze engagement rates, conversion rates, and ROI. These professionals utilize analytics tools to track customer interactions, identifying trends that inform your strategy. Conduct A/B testing on campaign elements to discover which tactics work best. Regularly review data to make data-driven recommendations for improving performance. Furthermore, assess industry trends with a search marketing consultant to guarantee your strategies remain effective. Partnering with digital marketing consulting companies or a digital marketing advisor can further improve your ability to optimize tactics and achieve your goals. Frequently Asked Questions What Is the Role of a Marketing Consultant? A marketing consultant guides you in crafting and implementing effective marketing strategies. They analyze market trends, consumer behavior, and competitor tactics to develop customized plans for your business. You’ll benefit from their insights as they monitor and optimize your marketing campaigns, ensuring they align with your goals. Moreover, they collaborate with your team, offering training and support to improve the execution of marketing initiatives, eventually driving better results for your business. What Are the 4 Things of Marketing Strategy? To develop an effective marketing strategy, you should focus on four key components. First, conduct thorough market research to understand consumer preferences and trends. Next, identify your target audience by segmenting based on demographics and behaviors. Third, establish unique selling propositions (USPs) that differentiate your brand from competitors. Finally, create a marketing mix by balancing the 4Ps: Product, Price, Place, and Promotion to effectively reach your audience and achieve your objectives. What Is the Role of a Strategy Consultant? A strategy consultant’s role involves helping organizations identify their goals and areas for improvement. You’ll conduct research on market trends and competitor strategies, developing actionable frameworks to tackle challenges. Do Marketing Consultants Make a Lot of Money? Yes, marketing consultants can make a lot of money, but it varies widely. Entry-level consultants might start lower, whereas experienced professionals can earn over $100,000 annually. Freelancers often experience fluctuating income, depending on their projects and clients. Specializing in high-demand areas like digital marketing, SEO, or social media strategy usually leads to better pay. Moreover, compensation packages may include bonuses and profit-sharing, further enhancing overall earnings. Conclusion In conclusion, a marketing strategy consultant plays an essential role in helping businesses succeed. By conducting thorough market research, developing customized strategies, and creating all-encompassing campaigns, they address specific client needs. Their use of data analysis guarantees informed decisions, whereas ongoing performance monitoring allows for continuous optimization. Engaging a consultant can improve your marketing efforts, provide valuable insights, and align your strategies with your overall business goals. This collaborative approach can greatly enhance your market positioning and effectiveness. Image Via Envato This article, "What Does a Marketing Strategy Consultant Do?" was first published on Small Business Trends View the full article

Google launches a small-business resource hub that centralizes setup, ads, analytics, learning, and partner website options in one place. The post Google Launches New Small-Business Resource Hub appeared first on Search Engine Journal. View the full article

Task batching helps you organize similar tasks into focused time blocks—so you’re not spending mental energy switching gears. Learn how to structure your day for high-impact work with less burnout. The post How To Use Task Batching To Save Time and Maximize Focus appeared first on The Digital Project Manager. View the full article