< Previous30 Business Link www.blmforum.net WAREHOUSING AND DISTRIBUTION processes and operations. They might be the overseer, but a staff member who, for the sake of argument operates a forklift all day, will have a more acute awareness of hindrances when it comes to using said forklift. Combined with other interviews and the data gathered in the previous steps, this will create a valuable web of information where patterns can be seen, and action can be taken. The fourth step is to report the analysis to determine current productivity and service levels, while the fifth and final stage is external benchmarking to look for areas of potential improvement. Once the assessment is complete, it’s then time to take steps to address and improve on the areas of inefficiency discovered. But what exactly can warehouse operators do to boost efficiency and create a leaner, more streamlined site? A warehouse management system has become indispensable for modern warehouses and distribution centres. Basically, this is a software application that helps to control and manage day-to- day operations in a warehouse. It guides inventory receiving and put-away as well as advising on inventory replenishment and can also optimise picking and shipping of orders. Not all warehouse management systems are created equally, however, so it’s important to buy from reputable providers. Some of the best ways to boost operational efficiency aren’t software related, in fact they’re downright low- tech. Expanding one’s warehouse can provide more storage space, which has becoming an increasingly important topic as we approach Brexit, but this can incur considerable expense. It’s better to first make more efficient use of existing space. By adding taller units and investing in high-reach forklifts, a warehouse operator can utilise its vertical space and keep more inventory in the same space. Yes, there is some cost in this approach, but it is significantly less than a whole site expansion – or opening another warehouse altogether. © Shutterstock /wavebreakmedia © Shutterstock /Halfpoint 28-31.qxp_Layout 1 07/10/2020 07:36 Page 3Tel: 01482 506560 • Email: sales@datamarkuk.com • Website: www.datamarkuk.com • Plain / Printed Labels • Thermal Transfer Ribbons • Lasersheets • Fanfolded Labels • Barcode Labels www.blmforum.net Business Link 31 WAREHOUSING AND DISTRIBUTION Similarly, it’s important to pay attention to warehouse layout in order to make navigation for staff and forklift operators easier. Of course, this makes navigation easier, but it also helps to minimise potential health and safety hazards. This isn’t a one-off issue, but rather part of continuous improvements where managers and site operators regularly check and assess their warehouses to see if and where improvements can be made. However, it isn’t only site operators that need to be cognizant of these issues, but all staff and managers so it’s therefore important to make sure all staff are properly trained. All of these improvements in the warehouse or distribution centre will have a cumulative effect and these efficiency gains are passed along to logistics and freight forwarders. Coupled with improvements made by logistics operators, the supply chain becomes leaner, more streamlined and much more efficient. As we approach the Christmas trading period, the end of the Brexit transitionary period and continue to deal with increased demand during the pandemic, this will matter now more than ever. 28-31.qxp_Layout 1 07/10/2020 07:36 Page 432 Business Link www.blmforum.net SUPPORTING BUSINESS GROWTH Business insurance and advisers exist, in part, to protect against the inevitable or the expected. By understanding the threats and pitfalls that could hamstring a business, bosses can prepare in advance and employ countermeasures and protections. 2020 was the year in which we witnessed first-hand what happens when the unforeseen strikes with the unprecedented coronavirus pandemic. Though the initial response from government was stuttering to stay the least, it wasn’t long before financial measures were in place to safeguard businesses and put protections on the economy. One of these most important financial aids is the Coronavirus Business Interruption Loan Scheme (CBILS). Launched back in March, the scheme provides financial support to SMEs across the UK that are losing revenue, and seeing their cashflow disrupted, because of the outbreak. As the pandemic worsened and the financial situation grew bleaker for SMEs, the scheme was expanded, with changes to allowing more smaller businesses to access funding. Although the scheme was originally intended to remain in place until the end of September, Chancellor Rishi Sunak has announced it has been extended to the end of November. Announced by Sunak back in April and opening to applications in May, the ‘Bounce Back Loan Scheme’ is intended to get businesses back up and running and help the economy to, well, bounce back. As with CBILS scheme, it is delivered by lenders accredited by British Business Bank. The loans, ranging from £2,000 up to twenty-five per cent of the business’ turnover with a maximum loan of £50,000, are intended for small and micro businesses in all sectors. Crucially, it allows businesses to obtain a six-year term loan at a government set interest rate of 2.5 per cent a year with the government covering interest payable in the first year and no principle repayments required for the first twelve months. As with the CBILS scheme, it is in place until the end of November. Another key financial support service offered by the government early into the pandemic was the Coronavirus Job Retention Scheme. The scheme provided a lifeline to businesses who were forced to shut down during lockdown. It allowed the government to pay eighty per cent of furloughed worker’s salaries, up to £2,500, allowing bosses to avoid Meeting evolving needs Economic pressures and uncertainty in the wake of the coronavirus crisis have led to companies reviewing their sources of finance, exploring ways to reduce overheads and, of course, exploring the aid on offer to support growth. 32-35.qxp_Layout 1 07/10/2020 07:33 Page 1www.blmforum.net Business Link 33 SUPPORTING BUSINESS GROWTH © Shutterstock /Jirsak redundancies. New flexibility was introduced from August with the aim of getting employees back to work and boosting the economy and, back in May, the chancellor announced that the scheme will remain open until the end of October. With some 9.5 million UK workers from 1.2 million employers still on furlough, it’s even likely the scheme will need to be extended beyond this point. Although these schemes may help many of the issues business are currently facing as a direct result of the pandemic, coronavirus has, in many cases, worsened pre-existing issues that businesses were already struggling with. Perhaps the most pressing is late payments. Fortunately, there are ways in which a company can secure funding to cover the gap in cashflow posed by late invoices. Chief among these is invoice finance. This is the simplest means of releasing cash tied up in a businesses’ outstanding invoice. It sees a business sell its invoices to a third party who will advance some of the funds it is worth up front for a cut. Thousands of businesses already rely on this kind of financing to maintain a healthy cash position, whilst others use it to take back control of cashflow issues that arise from late and unpaid invoices – more so since the pandemic. Perhaps the biggest draw is that businesses can be paid most of an invoice within forty-eight hours instead of the typical thirty-day period specified on most invoices. Of course, this is far from the only finance solution businesses can draw from. Asset-based finance is a specialised method of providing companies with working capital and term loans that use accounts receivable, inventory, machinery, equipment and real estate as capital – essentially, any loan to a company is secured by one of that company’s assets. This option is commonly used to pay for expenses when there are gaps in a company’s cashflow, but it is also frequently used for start-up financing as well as refinancing existing loans, financing growth, mergers and acquisitions, as well as management buy-outs and management but-ins. Although it’s not suited to meet every business requirement, it can prove useful for those that have stretched their credit limits with vendors and reached lending capacity at the bank. Companies can also take out loans to fill the gap and bolster cashflow, though 34 Á 32-35.qxp_Layout 1 07/10/2020 07:33 Page 234 Business Link www.blmforum.net SUPPORTING BUSINESS GROWTH some companies may already be at their limit with their banks or otherwise don’t meet the requirements for securing loans with traditional lenders. In these situations, companies can turn towards alternative lenders and finance providers. Private equity, for example, is where investors provide long-term equity capital investment in a company in return for either shares, a percentage stake in the business and/or, sometimes, a seat on the board. Although many businesses might be loath to dilute their ownership, private equity does offer a good option of raising capital for businesses that aren’t ready to list on the stock exchange. Another form of private finance is an angel investor – a high net worth individual who makes use of their own personal disposable finance and makes their own decision about making an investment. Angels would normally take an equity stake in a business in return for providing equity funds. As well as capital, angels can also provide their experience, knowledge and contracts, making them especially attractive to early stage businesses. Every investor is different and will therefore provide differing amounts, but typical investments range from between £10,000 and £500,000, though deals of up to £2 million are becoming more commonplace as angels group together in syndicates. Although angels are one of the most significant investors in start-ups, that shouldn’t deter more established firms from making enquiries. It’s important to keep in mind that securing an angel can be a difficult and protracted process, as well as being harder to research and contact compared with a private equity firm. Although securing finance of one form or another is a way in which companies can strengthen cashflow, there are other options such as reducing overheads and operating costs and downsizing. Depending on the company and, indeed, the severity of the financial shortfall, this approach may be pursed independently or in conjecture with invoice financing or a loan. In this current financial climate, with the effect of the pandemic, and with the end of the furlough scheme forcing many employers’ hands, a lot of businesses may soon be looking at redundancies as a necessary way to improve and increase their cashflow. Payroll is often the biggest expense for a business so, in times such as these, it’s often one of the first places © Shutterstock /Novikov Aleksey 32-35.qxp_Layout 1 07/10/2020 07:33 Page 3www.blmforum.net Business Link 35 SUPPORTING BUSINESS GROWTH Fully-funded EU exit support available for Lincolnshire businesses With the disruption caused by COVID-19, it’s not surprising that many businesses have forgotten about the UK’s exit from the EU. But with December 31st fast approaching, there is little time left for businesses to prepare for the end of the transition period. Fortunately, the Business Lincolnshire Growth Hub is offering a range of support to help businesses move forward with confidence. If you have no idea where to start, Business Lincolnshire’s Exporting Adviser Mike Stokes will put together a bespoke action plan to guide you. After a short diagnostic phone call, Mike will send you a tailored report with suggestions on how to prepare your business, as well as follow up with you in a few months to check your progress. Business Lincolnshire is also working with the Export Department to bring you one-to-one adviser support sessions. During these 1 hour 30-minute slots, you’ll have the opportunity to ask any questions that might be plaguing you, as well as address any issues unique to your business, with multiple dates and times available to suit you. Finally, Business Lincolnshire offers a variety of webinars to help you plan for the end of the transition period, covering everything from importing and exporting to customs declarations and tariffs. All of its support is fully-funded, meaning no cost to businesses. If you need a hand in getting your business ready for December 31st, visit the Business Lincolnshire website now to find out more: www.businesslincolnshire.com. © Shutterstock /Ivan Marc © Shutterstock /wutzkohphoto bosses or financial advisors will look at to save money. It’s a simple but effective method – a company can save tens of thousands of pounds a year by letting staff go, be that through shuttering whole departments, or consolidating multiple job roles into one. Although nobody wants to lose their jobs, it’s often necessary for companies to take such measures to stay afloat and to continuing trading through this period of increased economy strain and uncertainty. However, it’s worth noting that there are other ways to cut payroll costs without letting staff go – such as cutting salaries, turning full-time staff into part-timers, cutting bonuses, enacting leaves of absences and shortening the working week. It isn’t only on the financial side of things the pandemic has affected, but the way in which we work. From the beginning of lockdown in March, offices were largely shuttered with workers either placed on furlough or set up to work from the home. At the time, this might have seemed like a temporary measure, but it’s clear there is a shift taking place and the future of the office is likely to be home-based. Businesses therefore need to invest in the appropriate hardware and software for their home workers to ensure they do not compromise efficiency and that they are perfectly placed not only to weather the future, but to grow as the corporate world continues to evolve. 32-35.qxp_Layout 1 07/10/2020 07:33 Page 436 Business Link www.blmforum.net FACILITIES MANAGEMENT secure Safe and 36-41.qxp_Layout 1 07/10/2020 07:30 Page 1www.blmforum.net Business Link 37 FACILITIES MANAGEMENT A lthough managing any facility is a complex, multi- faceted job, part of it involves responding to the unique requirements of a facility and meeting regulatory changes. In particular, the latter concerns worker wellbeing and overall site safety, both of which have become much more intricate and pressing since the onset of the coronavirus pandemic. To that end, any facilities manager worth their salt will ensure their facility not only meets the health, hygiene and safety levels required by law but, often, go beyond. One such example includes investing in hygienic flooring. Not only will this instigate and help preserve a safer, more hygienic environment for existing occupiers, but will also serve to entice potential 38 Á Worth more than £120 billion, it’s no exaggeration to say that the UK’s facilities management sector is a keystone of the economy. Business Link explores what’s involved, the technologies emerging to increase efficiency and the need for hygiene. © Shutterstock /Gorodenkof f 36-41.qxp_Layout 1 07/10/2020 07:30 Page 238 Business Link www.blmforum.net FACILITIES MANAGEMENT We have everything you need to safely reopen your business. Contact us today for no obligation help and advice Email: peter.cussans@chemexuk.com Tel: 07941733201 Chemex Lincoln & Boston are here to help! From friendly help and advice, to complete hygiene control packages - we have it all! new occupiers to a facility. After all, having high hygiene levels is something worth shouting about and, in during these times, will help to allay anxieties and instil confidence. The best hygienic flooring solutions are stable to steam cleaning, ensuring they fit within an efficient cleaning process that is both swift and robust. Moreover, they’ll be resistant to boiling water and process liquids meaning they’re an ideal accompaniment to manufacturing industries such as food, cosmetics and pharmaceuticals. But where all workers within a facility are concerned, hygienic flooring boasts a nominal thickness and anti-slip properties, meaning there’s very little danger of tripping, slipping and falling. Although this helps to minimise accidents and possible fatalities, it by no means eliminates threats entirely. So facilities managers must be vigilant at all times and alert to possible hazards. For this reason, it’s worth taking the time to walk around a facility, looking at what works and where improvements can be made. It would be difficult to trust in a boss who’s never in the workplace, and it’s the same for a facilities manager. How can they be expected to run a tight ship if they never visit the facility they’re supposed to managing? As we’ve already explored, hygiene is critical for facilities managers to focus on, but it can also form part of their environmental strategies. It’ll come as no surprise that cleaning companies and hygiene firms employ some harsh chemicals in their arsenal when tackling industrial buildings, offices and other such facilities. The emphasis here is on speed and efficiency and while this approach typically does keep things spick and span, the use and manufacture of these products can wreak havoc on 36-41.qxp_Layout 1 07/10/2020 07:31 Page 3www.blmforum.net Business Link 39 FACILITIES MANAGEMENT Importance of security in a crisis Webeye, a Mansfield-based security specialist, explores the importance of robust, reliable securing during the coronavirus crisis and what measures businesses can take. Construction sites, empty properties and remote locations are under threat. You need to be confident your assets are safe and, if intruders do break in, you need to know ASAP. Security becomes ever more important in times like these and technology can play its part in keeping everyone involved safe. Governments are encouraging staff to stay at home, but how can you check your business premises are protected and your security provision is working properly or at all? This is where effective alarm delivery is crucial to maintain a credible security programme. If you’re monitoring sites, you need to make sure you can receive alarm notifications directly to your home computer, tablet or mobile device. But by their nature, home devices are not as robust as professional security systems. Webeye has developed a cloud technology that is robust platform and app that have thought through the pitfalls and have put checks and balances in place to make sure you receive credible alarm notifications. You also have to think about guarding and security staff. If you have no physical security staff on site you’ll need effective systems to be your eye-and-ears on the ground. Advances in wireless and battery technology means there are systems on the market such as the Videofied Visual Verification system or Webeye’s own webeyeOCULi that can effectively monitor sites where there is no main power. They trigger upon intrusion and send video clips directly to your home device via the webeyeCMS cloud receiving platform that can act as your automated central monitoring station. To find out more, visit www.webeyecms.com, email sales@webeyecms.com, or call 01157 149990. the environment. Studies are also increasingly finding the impact on human health with the use of harsh chemicals. However, in light of the COVID-19 outbreak, likely cleaning firms will double down on intense chemicals to ensure sight safety. As we learn to live and work alongside the pandemic, however, these cleaning solutions will have to adapt and evolve in order to provide robust and reliable hygiene without compromising the environment at a time when we can scarcely afford it. The same goes for a facility’s grounds. Though the benefit to staff and the environment are admirable, there’s also a pragmatic reason for going green. Being able to market a business centre or office block as sustainable and eco-friendly will give a facility management company an edge over competitors. No doubt new technologies and digital solutions will be on the minds of most facilities managers. Interestingly, one of the ways in which artificial intelligence (AI) is impacting facilities management is with cleaning. Cleaning robots can better and more efficiently maintain a space than their 40 Á © Shutterstock /Natali_ Mis 36-41.qxp_Layout 1 07/10/2020 07:31 Page 4Next >