Bank Reconciliation Statement

The bank pass book indicates the amount paid into the bank and the amount withdrawn there from. The pass book balance on any given date must be the same as the balance shown by the bank column of the cash book on the same date. But in actual practice the bank pass book balance seldom agrees with the balance shown by the bank column of the cash book. This happens when some of the transactions appear in the cash book but not in the pass book or in the pass book but not in the cashbook. The difference between the two balances are due to the following reasons.

1. Cheques issued but not presented for payment. When cheques are issued, the entry in the cash book is made immediately. In the books of the bank, the entry is made only when the cheque is presented for payment. It is possible that at the time when the balance of the two books are being compared, some of the cheques might have been issued but might not have been presented for payment thus causing a disagreement between the two balances.

2. Cheques paid into the bank but not yet cleared. As soon as the cheques arc deposited into the bank, the entry is passed on the debit side of the bank column in the cash book. The customer’s account is credited by the bank only when the cheques are cleared. It is possible that when the cashbook is compared with pass book some of the cheques deposited by the concern may remain uncollected.

3. Interest allowed by the bank. Bank might have credited the account of the customer with the interest and may have made the entry in the pass book. It is possible that the entry 10 respect of such interest may not have been made by the customer in the bank column of the cash book thus causing a disagreement between the two balances.

4. Interest and bank charges debited by bank. The bank debits the account of the customer by way of interest on overdraft. It also debits the account of the customers by way of incidental charges and collection charges. As soon as these charges are made the bank debits the customer’s account. But the entries in the cash book are made by the customer .only when he receives the bank statement or the pass book.

5. Interest, dividend etc. collected by the bank. Sometimes interest on government securities or dividend on shares is collected by the bank and is credited to customer’s account. If the entry for these do not appear in the cash book, the balance will differ.

6. Direct payment by the bank Sometimes under standing instructions from the client, certain payments like insurance premium, club fees etc. are made by the bank. The entry in the bank column of the cash book is only made when the necessary intimation to that effect is received from the bank by the client. The entries in the cash book and pass book may be on different dates.

7. Direct payment into the bank by a customer. Sometimes our customers deposit money direct into the account in the bank, the corresponding entry for which may not appear in the cash book, due to delay in necessary instructions by the customers.

8. Dishonor of bill discounted with the bank. Sometimes customers get their bills discounted with the bank. If the bank is not able to get payment of these bills on the due date, it will debit the customers accounts with the amount of the bills together with the noting charges, if any. The customer will pass the entry in his books on receipt of the information from the bank.

9. Any error committed by the bank Besides the above reasons if any error is committed either by the bank or by the customer himself while recording the transactions in their respective books it will cause disagreement between the two balances.

A reconciliation statement is, therefore, prepared at periodical intervals with a view to indicate the items which cause such disagreement between the balance as shown by the bank column of the cash book and the bank pass book on any given date. Other advantages of preparing a reconciliation statement are :

(1) The errors that might have been committed either in the cash book or pass book are revealed.

(2) The reconciliation statement will also indicate any undue delay in the clearance of outstation cheques.

(3) A reconciliation statement prepared at regular intervals will discourage the staff of either or the bank from committing the acts of embezzlement. It is possible that the cashier might have made the entry in the cash book but might not have deposited the amount in the bank.

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January 27th, 2012 by admin | Comments Off

GS1 operation

Supply Hub in Industrial Park (SHIP) is a public depot located in industrial park (IP). It provides shared warehouses and fleets for IP manufacturers to reduce their inventory costs of holding “raw materials” and “finished product” through economy of scale. More and more IP manufacturers are integrating SHIP into their production operations, aiming to further cut their “shop-floor WIP inventory” through acquiring Just-in-Time (JIT) material collection and distribution from SHIP. This project proposes and develops a RFID-based small-lot and high-frequency Just-in-Time (JIT) production logistics management system for SHIP to realize the purpose. Real-time materials outputs and consumptions are captured by the RFID-enabled manufacturing execution systems (WMS — 2009 GS1 Award) deployed at suppliers and manufacturers, generating real-time materials collection and distribution orders respectively at the two sides of SHIP, ie supply side and demand side. By the real-time adaptive decision modules, orders are dynamically split into pieces and consolidated into a sequence of shared logistics tasks which are scheduled based on the logistics resources’ real-time statuses and attuned with the suppliers’ and manufacturers’ real-time production progresses. Then, by the RFID-enabled operation facilities, the materials collection and distribution around SHIP could be collaboratively and accurately executed in a small-lot and high-frequency milk-run mode logistics to achieve WIP

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January 17th, 2012 by admin | Comments Off

Part 1 of “How Oracle users are leveraging adaptable accessories and applications”

Learn how Oracle users are leveraging mobile devices and applications to drive excellence and streamline operations. There are proven and reliably deployed technologies today that address the pressure on operations to do more with less. You bear the responsibility to ensure assets, supply chain and facilities are productive and always available. Using mobile solutions, you can finally realize the full potential of your Oracle systems with uniform, complete, and timely data that your system and standardized processes need to be most effective. Hear how Ventureforth provides a complete mobile solution for your supply chain management, work and asset management needs for Oracle solutions. In this session, you’ll learn how mobile enables organizations to: Increase “wrench time” with greater productivity and streamlined operations Access valuable work detail at the point of performance for higher first time fix rates Get more timely and accurate data for both your work and inventory management Utilize the extreme flexibility and agility from Syclo’s leading mobile platform Also included will be customer success stories on mobilizing Oracle systems

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January 9th, 2012 by admin | Comments Off

The New Wave of Digital Fabric Printing Technology

Historical review in textile printing

Textile printing is a method by which fabrics are printed in various colors, arts and designs. It is a very old art developed and created on fabrics in Egypt during 5000 B.C. Fabrics also found printed in Greek during 4th century. B.C, also it is noted that printing blocks were sourced from India in 5th century. B.C. During that time, France acknowledged as popular center of this type of cloth production and printing. Japan was popular for adding stencil work in wood by making blocks and further by pasting dies and prints it in fabrics.

In the Mid-15th Century, with the invention of printing press by John Gutenberg there was a drastic change seen in printing technology and textile printing. After practicing by William Caxton in England, there was a remarkable widespread seen in relief printing technology in 1476. In sixteen and seventeen century with the export of spices, India became major provider of printing fabrics and products, like calico, pajama, gingham, dungaree, chintz and khaki according to the requirement of European countries. Then by the efforts by Grant, Thomas Bell and many printers, with the invention of wood block (1760), copper block (1770) and copper roller (1797) printing technology in the eighteenth century, especially the trend of cotton printing spread, still it can be seen at the Toile de Jouy Museum.

The history of fabric printing in Dartford goes away with Augustus Applegath’s acceptance of a silk printing works in the town and it sustained until 1865 when James Keymer established a new fabric printing works on the banks of the River Darent. In 1907 Samuel Simon was used a fabric printing system in which the designs were shaped from stencils through screen printing machines. In 1940’s first photographic stencil was built up by Colin Sharp. After development of computers, the printing process and its developments geared up in their colors.

Development in last two decades

With the improvement in the printing technology, color inkjet printers played an important role in digital fabrics for the consumer market in the late 1980s. That time Canon and Hewlett-Packard became leaders in the printing technology. Canon’s Bubble Jet printers were received so acceptance in the market. Again latest technology geared up in their improvement with the existence of a large format color inkjet printer – the Iris printer in the 1990s, but that technology was not considered as ideal tool for the fabrics due to light sensitive color problem, rather it was accepted for paper printing.

Earlier, direct printing method used for fabric with the computer and the printing is made with the computer inks; it was the time where fabric was printed using only black images or text because of the availability of only laser printers and ribbon printers and there were no color printers. In 1999 Bubble Jet Set printing technology developed, which permits fabric to be treated, amalgamated to freezer paper with an iron and then operate through an ink jet printer.

The meaning of Digital fabric/Textile Printing

The digital fabrics printing technology is existed since last decade, it emerged after 1994. It is a skill that prints the designs on fabric, immediately from your computer, without extra efforts just like printing and designing a paper. Digital textile printing is a flexible tool and a key acceptable to the vision of mass customization. It permits the user to evade the screen making process, offering the chance for quick changes to color or design elements prior to printing.

Advantages of digital fabric printing over traditional printing technology

Generally, textile printing has been operated through transferring media, such as screens and rollers. Each transferring media is designed and allocated for a specific color. A block printing and engraved copper printing are operating through these methods. A number of woodblocks that are designed in block printing give a number of colors in design. Advantage of using this type of method is that you can have three dimensional effects due to its color separation and layers, and still today rotary screen printing method is used in designing of traditional floral patterns and toile designs. Mechanical or traditional fabric printing methods some times manipulate in both way, by design aesthetics and styles, while in the field of printed textile design with the latest digital fabric printing technology it enhanced the style and meaning of printed textile design. It is a fact that the new latest methods of digital printing on fabrics have exposed new horizons to the designers and manufacturers. Digital printing methods have facilitated manufactures to make a digital sampling and have advantages of change in designs before engraving. By adopting digital printing techniques you can re-adjust conventional printing design and can able to give new looks in design.

Today, many customers are demanding fabrics to be printed with various color combinations, styles, designs, traditional designs and looks, but to co-up with these customization demands there has been a limitation to attend the entire mass market with traditional printing technology. Digital printing profits over conventional printing it provide noteworthy benefits like quick turn-around, efficient set-up and speed, economical and great flexibility, takes less time, alteration possible etc. And in today’s customer oriented market the printing technology is not limited to wearing wears; but it bounds to its limits and reaches to the requirements of trade show graphics, picture of huge fabric posters of television and movie stars, advertising purposes, flags and banners and many mores.

Unlike any traditional textile printing technology, the main benefit of digital fabric printing is in its process color application with its latest printers, software applications. Photographic and tonal graphics shaped millions of colors with Photoshop and can be printed on fabric according to the color combination requirement. Wider color scope and finer printing quality are available with the latest development of inks, color management software. In the traditional process colors of CMYK, you can have various color combination with addition of extra preset colors like orange, blue, green, and also there is availability of various type of software with these complex color combination. These preset colors reduce importance of screens or rollers for printing, and there is no need of repeat the size and other combination with no limit with color combinations in designs.

From digital textile printing technology you can have latest innovative and creative deigns like concepts of shadow, shimmering, vibration, reflection, moire, optical, translucent, netting, blurring, layering, superimposing, etc., instead of making special efforts with traditional methods of printing. Today, the printing technology developed so tremendously and became so eco-friendly, user-friendly that, even designers can make its products without taking help from textile designers.

Digital Printing Advantages

. Design achieved with greater flexibility, without the limitation of on repeat size, colors, engineered designs and gets outstanding depiction of continuous tone (photographic) images

. The digital printing equipment not requires much infrastructure and it is comparatively available in less cost

. Drastically trim down time to market the products

. It also decrease the use of water, dyes & solutions hence acts as an environmentally friendly tool

. It decreases industrial waste and print loss, provides centralize manufacturing facility

. Mass customization requirements easily available in short time

. Availability of fast greater speed of operation, high resolution / drop Size & configuration with spot colors combination or color control without lack of standards

Types of digital fabric printing technologies

There are various types of digital printing technology available in market like thermal DOD Ink jet

Piezoelectric DOD ink jet, airbrush/valve jet, electrostatic (sublimation & resin), thermal transfer, electro photography (Laser, LED), photographic development, continuous ink jet (CIJ) etc.

DOD Ink jet fabric printing method: DOD Ink jet printing method bring a drop of ink or dyes only when needed for printing that is why it is called drops on demand ( DOD ), i.e. it works on the principal “only when and where required in the design” . This system works as environment friendly, because of its “no paste, no waste “method, and the complete color reaches to the fabric.

Piezoelectric DOD ink jet fabric printing method: It uses electrostatic forces for arrangement and spraying of micro drops of inks or dyes in fabric printing. Here high voltages are applied to piezoelectric crystals for producing directional current. The advantage of using this methods are it formulation directional ink, where inks not heated , hence less expensive, printing heads works at its cycles per second and provides high resolution by applying small drop size of inks or dyes.

Electrostatic Sublimation Transfer Printing : Sublimation is a method whereby a solid dyes turns exactly into a gas without passing through a liquid state, can be transferred to a fabric (e.g. polyester) and re-solidify as a solid color again. Dye sublimation is a two-step process that needs additional equipment to the electrostatic printers for dye-sub. Also it requires a special paper for heating at the heat press; electrostatic printer. It is also called sublimation transfer printing. These inks or dyes can be printed onto paper from either a silkscreen process or from printers attached with ribbons with the sublimation inks. These papers then can transmit images onto fabrics.

Direct ink jet transfer method: The direct ink jet transfer method is direct transfer, or printing directly onto fabric with an inkjet printer. This process expensive and the fabrics require to be coated in order to effectively allow the inks or dyes.

Continuous ink jet fabric printing method: The ink is constantly pushed out of the ink channel by a pump by a nozzle attached with a PZT material and it generates an “ink-jet”. Using an electrical power on the PZT material, the nozzle shakes, breaches the ink jet into droplets of ink and used for printing fabrics. Continuous ink jet fabric printing method also available with its binary hertz operation and multi-deflection system.

Software application in digital fabric printing: For digital fabric printing Color management Systems (CMS, Calibration), Raster Image Processor (RIP), printer driver software, design lay out software (CAD), etc are widely used.

Development in printing equipment

At present Ichinose ImageProofer, Stork Amethyst, Dupont Artistri2020, Mimaki TX2-1600, Encad, NovaJet 880, Zimmer Chromotex, ColorSpan, FabriJet, Aprion Magic, Leggett and Platt Virtuetc, Imaje-Osiris, Reggiani DReAM, Robustelli Mona Lisa, Leggett & Platt UV-dye, Mimaki TX2 & TX 3 etc latest printers or equipment with their developed brand name or version are widely using for getting effective results.

Latest digital inks: Today most fabric printers or manufacturers uses reactive & acids in various colors, dispersed inks, finishing inks for light, color, pigments etc. Ink specialist such as Ciba Specialty Chemicals, DuPont, Dystar ( BASF), CHT, Lyson, Brookline, ECS and Kimberly Clark have developed digital form of conventional dyes such as reactive, acid, disperse and pigment. These inks permit printers to make prints on their specific type of fabrics.

According to Ray Work of DuPont, the worldwide market for textile chemicals is at $22 billion, of which around 36% is dyes and pigments. Finishing and coatings includes 38%. A foremost improved, according to Work, is that now almost every type of fabric can be digitally printed by ink jet, be grateful to progress in inks

For DuPont Artistri 2020 Printer DuPont Artistri 700 Series Ink is (acid dye ink chemistry) used for Nylon, Nylon/Lycra, Silk, Wool. For Polyester, Nylon, Nylon/Lycra processing disperse dye ink is used, for Cotton, Polyester, Cotton/Poly Blends, Viscose/Rayon Linen, Nylon*, Nylon/Lycra, Silk, Wool pigmented ink chemistry available. DuPont Solar Brite Ink is used especially for active wear, swimwear, intimate apparel, flags and accessories.

Digital textile printing technology in present market

For digital textile printing technology, there are three types of demands exists in market, which are sampling, strike-off, and mass customization.

Sampling: The sampling demand involves printing on paper and fabrics with an intimate concentration and compliance to the usual screen printing which is used for manufacturing.

Strike-off: Strike-off is a product of sample for a single, salable item for markets such as luxury, entertainment, or special events.

Mass customization: Mass customization is the third main products area and it creates an immense deal of concentration by mass customers.

The future markets: Besides the above existed segment, the digital fabric printing technology will be booming with their batch production printing and low volume demand fabric printing.

Its industry size is calculated: 300,000 Retailer “Doors” and 20,000+ Manufacturer “Doors”,

400 Companies Manufacture 80% of all apparel,

Apparel & Related Volume is $180B,

All Others’ Goods represent $36B.

Textile Printing Trends

The world wide trends: Decline in US print production, there seems growth of Asian print production and decreasing production run lengths, demand for greater design variety, demand for shorter production cycles and demand for reduced inventory risk.

Cotton is the most frequently printed material (48% of printing production), followed by cotton/polyester blends (19%), polyester (15%), and viscose (13%). From a worldwide viewpoint, other material (e.g. polyamide, polyacrylic, wool and silk) involve with a little part.

Prospecting Market

There are a range of new textile industry products you can print with digital printing, which covers wall covering, Info-banners, car covers, artworks, and flags and including museums, galleries, and exhibitors for multi disciplinary products, used in printing of education system or related products and there are many prospects for both direct and transfer digital printing e.g. for printing mouse pads ( new fabric surfaces and base materials), apparel prototyping for spot color, linking prototyping to production, and digitally-generated screens etc.

Digital textile production has been increasing at about 13% worldwide. The worldwide volume of digitally-printed textiles has been reaching about 44 million square meters by 2005. Duo to the high quality performance, in short time the availability of products, multidiscipline design, eco-friendly , cost- effective , etc advantages in digital textile printing technology, there exits a new market opportunities for this technology and it will be applicable to, backgrounds printing, scenes for theaters, film studios, photographers, music and sports events, road shows, parades, high profile catering, presidential campaigns, promotion organizers, advertising agencies, universities, churches, parties, for hanging signs, displays systems, packing, for sampling, for prototyping and new designs sampling, short run production, for interior designers to make curtains, upholstery, table cloth, bed ware etc.

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January 7th, 2012 by admin | Comments Off

Batesville Casket: A DSI® Case Study on Inventory Tracking and Management

To meet a primary business demand that orders be filled quickly and accurately, Batesville Casket selected dcLINK® from DSI to automate its production schedule. And to combat inventory control issues, dcLINK empowered the company to track all of its inventory movement in real-time—significantly increasing inventory accuracy. For more information, visit www.dsionline.com

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January 4th, 2012 by admin | Comments Off

The Challenges of Human Resource Management

Introduction

The role of the Human Resource Manager is evolving with the change in competitive market environment and the realization that Human Resource Management must play a more strategic role in the success of an organization. Organizations that do not put their emphasis on attracting and retaining talents may find themselves in dire consequences, as their competitors may be outplaying them in the strategic employment of their human resources.

With the increase in competition, locally or globally, organizations must become more adaptable, resilient, agile, and customer-focused to succeed. And within this change in environment, the HR professional has to evolve to become a strategic partner, an employee sponsor or advocate, and a change mentor within the organization. In order to succeed, HR must be a business driven function with a thorough understanding of the organization’s big picture and be able to influence key decisions and policies. In general, the focus of today’s HR Manager is on strategic personnel retention and talents development. HR professionals will be coaches, counselors, mentors, and succession planners to help motivate organization’s members and their loyalty. The HR manager will also promote and fight for values, ethics, beliefs, and spirituality within their organizations, especially in the management of workplace diversity.

This paper will highlight on how a HR manager can meet the challenges of workplace diversity, how to motivate employees through gain-sharing and executive information system through proper planning, organizing, leading and controlling their human resources.

Workplace Diversity

According to Thomas (1992), dimensions of workplace diversity include, but are not limited to: age, ethnicity, ancestry, gender, physical abilities/qualities, race, sexual orientation, educational background, geographic location, income, marital status, military experience, religious beliefs, parental status, and work experience.

The Challenges of Workplace Diversity

The future success of any organizations relies on the ability to manage a diverse body of talent that can bring innovative ideas, perspectives and views to their work. The challenge and problems faced of workplace diversity can be turned into a strategic organizational asset if an organization is able to capitalize on this melting pot of diverse talents. With the mixture of talents of diverse cultural backgrounds, genders, ages and lifestyles, an organization can respond to business opportunities more rapidly and creatively, especially in the global arena (Cox, 1993), which must be one of the important organisational goals to be attained. More importantly, if the organizational environment does not support diversity broadly, one risks losing talent to competitors.

This is especially true for multinational companies (MNCs) who have operations on a global scale and employ people of different countries, ethical and cultural backgrounds. Thus, a HR manager needs to be mindful and may employ a ‘Think Global, Act Local’ approach in most circumstances. The challenge of workplace diversity is also prevalent amongst Singapore’s Small and Medium Enterprises (SMEs). With a population of only four million people and the nation’s strive towards high technology and knowledge-based economy; foreign talents are lured to share their expertise in these areas. Thus, many local HR managers have to undergo cultural-based Human Resource Management training to further their abilities to motivate a group of professional that are highly qualified but culturally diverse. Furthermore, the HR professional must assure the local professionals that these foreign talents are not a threat to their career advancement (Toh, 1993). In many ways, the effectiveness of workplace diversity management is dependent on the skilful balancing act of the HR manager.

One of the main reasons for ineffective workplace diversity management is the predisposition to pigeonhole employees, placing them in a different silo based on their diversity profile (Thomas, 1992). In the real world, diversity cannot be easily categorized and those organizations that respond to human complexity by leveraging the talents of a broad workforce will be the most effective in growing their businesses and their customer base.

The Management of Workplace Diversity

In order to effectively manage workplace diversity, Cox (1993) suggests that a HR Manager needs to change from an ethnocentric view (“our way is the best way”) to a culturally relative perspective (“let’s take the best of a variety of ways”). This shift in philosophy has to be ingrained in the managerial framework of the HR Manager in his/her planning, organizing, leading and controlling of organizational resources.

As suggested by Thomas (1992) and Cox (1993), there are several best practices that a HR manager can adopt in ensuring effective management of workplace diversity in order to attain organizational goals. They are:

Planning a Mentoring Program-

One of the best ways to handle workplace diversity issues is through initiating a Diversity Mentoring Program. This could entail involving different departmental managers in a mentoring program to coach and provide feedback to employees who are different from them. In order for the program to run successfully, it is wise to provide practical training for these managers or seek help from consultants and experts in this field. Usually, such a program will encourage organization’s members to air their opinions and learn how to resolve conflicts due to their diversity. More importantly, the purpose of a Diversity Mentoring Program seeks to encourage members to move beyond their own cultural frame of reference to recognize and take full advantage of the productivity potential inherent in a diverse population.

Organizing Talents Strategically-

Many companies are now realizing the advantages of a diverse workplace. As more and more companies are going global in their market expansions either physically or virtually (for example, E-commerce-related companies), there is a necessity to employ diverse talents to understand the various niches of the market. For example, when China was opening up its markets and exporting their products globally in the late 1980s, the Chinese companies (such as China’s electronic giants such as Haier) were seeking the marketing expertise of Singaporeans. This is because Singapore’s marketing talents were able to understand the local China markets relatively well (almost 75% of Singaporeans are of Chinese descent) and as well as being attuned to the markets in the West due to Singapore’s open economic policies and English language abilities. (Toh, R, 1993)

With this trend in place, a HR Manager must be able to organize the pool of diverse talents strategically for the organization. He/She must consider how a diverse workforce can enable the company to attain new markets and other organizational goals in order to harness the full potential of workplace diversity.

An organization that sees the existence of a diverse workforce as an organizational asset rather than a liability would indirectly help the organization to positively take in its stride some of the less positive aspects of workforce diversity.

Leading the Talk-

A HR Manager needs to advocate a diverse workforce by making diversity evident at all organizational levels. Otherwise, some employees will quickly conclude that there is no future for them in the company. As the HR Manager, it is pertinent to show respect for diversity issues and promote clear and positive responses to them. He/She must also show a high level of commitment and be able to resolve issues of workplace diversity in an ethical and responsible manner.

Control and Measure Results-

A HR Manager must conduct regular organizational assessments on issues like pay, benefits, work environment, management and promotional opportunities to assess the progress over the long term. There is also a need to develop appropriate measuring tools to measure the impact of diversity initiatives at the organization through organization-wide feedback surveys and other methods. Without proper control and evaluation, some of these diversity initiatives may just fizzle out, without resolving any real problems that may surface due to workplace diversity.

Motivational Approaches

Workplace motivation can be defined as the influence that makes us do things to achieve organizational goals: this is a result of our individual needs being satisfied (or met) so that we are motivated to complete organizational tasks effectively. As these needs vary from person to person, an organization must be able to utilize different motivational tools to encourage their employees to put in the required effort and increase productivity for the company.

Why do we need motivated employees? The answer is survival (Smith, 1994). In our changing workplace and competitive market environments, motivated employees and their contributions are the necessary currency for an organization’s survival and success. Motivational factors in an organizational context include working environment, job characteristics, appropriate organizational reward system and so on.

The development of an appropriate organizational reward system is probably one of the strongest motivational factors. This can influence both job satisfaction and employee motivation. The reward system affects job satisfaction by making the employee more comfortable and contented as a result of the rewards received. The reward system influences motivation primarily through the perceived value of the rewards and their contingency on performance (Hickins, 1998).

To be effective, an organizational reward system should be based on sound understanding of the motivation of people at work. In this paper, I will be touching on the one of the more popular methods of reward systems, gain-sharing.

Gain-sharing:

Gain-sharing programs generally refer to incentive plans that involve employees in a common effort to improve organizational performance, and are based on the concept that the resulting incremental economic gains are shared among employees and the company.

In most cases, workers voluntarily participate in management to accept responsibility for major reforms. This type of pay is based on factors directly under a worker’s control (i.e., productivity or costs). Gains are measured and distributions are made frequently through a predetermined formula. Because this pay is only implemented when gains are achieved, gain-sharing plans do not adversely affect company costs (Paulsen, 1991).

Managing Gain-sharing

In order for a gain-sharing program that meets the minimum requirements for success to be in place, Paulsen (1991) and Boyett (1988) have suggested a few pointers in the effective management of a gain-sharing program. They are as follows:

A HR manager must ensure that the people who will be participating in the plan are influencing the performance measured by the gain-sharing formula in a significant way by changes in their day-to-day behavior. The main idea of the gain sharing is to motivate members to increase productivity through their behavioral changes and working attitudes. If the increase in the performance measurement was due to external factors, then it would have defeated the purpose of having a gain-sharing program.

An effective manager must ensure that the gain-sharing targets are challenging but legitimate and attainable. In addition, the targets should be specific and challenging but reasonable and justifiable given the historical performance, the business strategy and the competitive environment. If the gain-sharing participants perceive the target as an impossibility and are not motivated at all, the whole program will be a disaster.

A manager must provide useful feedback as a guidance to the gain-sharing participants concerning how they need to change their behavior(s) to realize gain-sharing payouts The feedback should be frequent, objective and clearly based on the members’ performance in relation to the gain-sharing target.

A manager must have an effective mechanism in place to allow gain-sharing participants to initiate changes in work procedures and methods and/or requesting new or additional resources such as new technology to improve performance and realize gains. Though a manager must have a tight control of company’s resources, reasonable and justifiable requests for additional resources and/or changes in work methods from gain-sharing participants should be considered.

Executive Information Systems

Executive Information System (EIS) is the most common term used for the unified collections of computer hardware and software that track the essential data of a business’ daily performance and present it to managers as an aid to their planning and decision-making (Choo, 1991). With an EIS in place, a company can track inventory, sales, and receivables, compare today’s data with historical patterns. In addition, an EIS will aid in spotting significant variations from “normal” trends almost as soon as it develops, giving the company the maximum amount of time to make decisions and implement required changes to put your business back on the right track. This would enable EIS to be a useful tool in an organization’s strategic planning, as well as day-to-day management (Laudon, K and Laudon, J, 2003).

Managing EIS

As information is the basis of decision-making in an organization, there lies a great need for effective managerial control. A good control system would ensure the communication of the right information at the right time and relayed to the right people to take prompt actions.

When managing an Executive Information System, a HR manager must first find out exactly what information decision-makers would like to have available in the field of human resource management, and then to include it in the EIS. This is because having people simply use an EIS that lacks critical information is of no value-add to the organization. In addition, the manager must ensure that the use of information technology has to be brought into alignment with strategic business goals (Laudon, K and Laudon, J, 2003).

Conclusion

The role of the HR manager must parallel the needs of the changing organization. Successful organizations are becoming more adaptable, resilient, quick to change directions, and customer-centered. Within this environment, the HR professional must learn how to manage effectively through planning, organizing, leading and controlling the human resource and be knowledgeable of emerging trends in training and employee development.

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December 31st, 2011 by admin | Comments Off

Asset Tracking Software by Fishbowl

www.fishbowlinventory.com From IT asset tracking to tracking food for NASA, Fishbowl is an affordable asset tracking solution that tracks lot numbers, bin numbers, expiration dates and more across multiple locations. In addition to being an affordable asset tracking software, Fishbowl Inventory is the #1 selling inventory management solution for QuickBooks.

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April 13th, 2011 by admin | Comments Off

(888) Corporate Fin-Stat.Com_FINancial_STATement_Forensic (305) On-Trial_Expert_Witnes FILE0053

FILE0053 (888) Fin-Stat.Com_FINancial_STATement_STATistics_arushine aol.com_ @ (305) On-Trial_Expert_Witness_Testimony (888) 346-7828 _arushine@aol.com_DrARush gmail.com_ @ (305) 668-5425 [quote] TA1O LT15-A Rushinek .. . – Ieeexplore.ieee.org This study investigated the influence of technical support (TS) on overall satisfaction of computer users, as determined by multiple regression. The variables of the troubleshooting, to find the expectations of users and documents, the most important factors areGlobal … IT system development methodology: the possibility of verification and control Rushinek … – Formal methods and software development, 1985 – Springer development of the system is a relatively new method to address the problems of an organization. As such, the development of a good still experimental. There are few formal rules to follow, and the basic intuition and experience still a major … Related articles – All 2 versions [PDF] Automation Software for the AssessmentAccounting [PDF] of onafree.comS Rushinek … – Onafree.com Abstract: This study deals with life and silent auctions of domain names. It develops a domain name of the assessment model for deciding on the marketability of the brand, transport, industry value measurement of e-commerce brands. It focuses on the nature of the ICANN WIPO NAF IRS for a resolution … Related Articles – View as HTML satisfied order processing and inventory management software for computer users: an interactive online assessment

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March 22nd, 2011 by admin | Comments Off

Intuit Warehouse Management ES: Build 6 Demo Assemblies

Learn to do, how to use your inventory builds using the web-based Intuit Warehouse Management ES (WMES) that connects seamlessly with Intuit QuickBooks Enterprise Solutions. This is the video with 6 of 6 caught 29 April 2009 to show how to use WMES to better manage inventory in your business small and medium size. To learn more, watch our demo video or visit our other site enterprisesuite.intuit.com? Cid = social_yt_mmg_none_none We host a live demo every Wednesday at 10 you can findRegister enterprisesuite.intuit.com thanks.

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March 17th, 2011 by admin | Comments Off