Better than expected Christmas for Next
Sales during the Christmas period have exceeded expectations at Enderby-based Next.
In a new trading statement for the 9 weeks to 30 December, full price sales were up 4.8% versus last year. This was c.£66m better than Next’s previous guidance of -2% for the period.
Next have increased their profit before tax guidance for the year by £20m to £860m, up 4.5% versus last year.
The retailer however is cautious about the year ahead (to January 2024), forecasting sales to be down 1.5% and profit before tax down 7.6%, as cost pressures hit.
Why investing in a quality VMI service can benefit your business
In today’s fast-paced and competitive business environment, it’s more important than ever to streamline your operations and find ways to increase efficiency. One solution that can help you achieve these goals is a Vendor Managed Inventory (VMI) system.
But what exactly is a VMI system and how can it benefit your business?
In this blog post, we’ll take a closer look at VMI systems and how they can help your business save time, money, and resources.
What is a Vendor Managed Inventory System?
A Vendor Managed Inventory system is a collaboration between a business and its suppliers where the supplier is responsible for managing the inventory levels at the business. In a VMI system, the supplier is given access to the business’s sales data and uses this information to continually replenish inventory as needed. This means that the business no longer has to worry about forecasting demand, placing orders, and managing inventory levels. Instead, the supplier takes care of all of these tasks, allowing the business to focus on other areas of their operations.Benefits of a VMI System
There are several benefits to using a VMI system, including:Increased Efficiency
One of the biggest advantages of a VMI system is that it can help increase efficiency in your business. By letting the supplier handle inventory management, you can free up time and resources that can be better spent on other areas of your operations. This can help you become more productive and increase your overall efficiency.Improved Inventory Accuracy
Accurate inventory management is crucial for any business, as it can help you avoid stock-outs and overstocks. With a VMI system, the supplier is responsible for monitoring inventory levels and ensuring that the right amount of product is always available. This can help improve the accuracy of your inventory, leading to fewer lost sales and excess inventory costs.Reduced Costs
In addition to increasing efficiency and improving inventory accuracy, a VMI system can also help reduce costs for your business. By having the supplier manage inventory, you can eliminate the need for in-house inventory management staff and reduce the costs associated with forecasting demand, placing orders, and managing inventory levels.Improved Customer Service
A VMI system can also help improve customer service by ensuring that the right products are always in stock. With accurate inventory management, you can avoid stock-outs and ensure that customers have access to the products they need. This can help improve customer satisfaction and loyalty.Enhanced Supplier Relationship
Finally, a VMI system can help enhance your relationship with your suppliers. By working closely with your supplier to manage inventory, you can build a stronger partnership and develop a deeper understanding of each other’s needs and goals. This can lead to more mutually beneficial arrangements and a stronger overall supply chain.Conclusion
In conclusion, a Vendor Managed Inventory system can be a valuable asset for any business looking to increase efficiency, improve inventory accuracy, reduce costs, enhance customer service, and strengthen relationships with suppliers. If you’re considering implementing a VMI system, be sure to carefully assess your needs and choose a supplier that is reliable, responsive, and able to provide the level of service your business requires. A Vendor Managed Inventory system can be a valuable asset for any business looking to streamline operations and increase efficiency. By carefully evaluating your needs and choosing a reliable and responsive supplier, you can implement a VMI system that helps your business save time, money, and resources while improving customer service and strengthening relationships with suppliers. So, investing in a quality VMI service can definitely be beneficial for your business.The highlights of custom software development and tips on establishing efficient collaboration with vendors
Custom software solutions are the most efficient programming products for standing out from competitors. If your company is determined to increase a brand’s visibility or attract a younger audience of users, an innovative platform for business fully satisfies expectations. First, let us clarify the definition itself and then dwell on the most visible benefits of that kind of digital platform.
What is custom development software, and why opt for it?
Custom software (other names are tailor-made and bespoke solutions) comprises digital products explicitly created by software development firms for a particular company to accommodate the enterprise’s needs and preferences. Therefore, it differs from traditional off-the-shelf solutions accessible to a broader audience of users. By using bespoke digital products, you can decide and dictate a product’s final design, core essentials and expanded function set. In addition, feel free to expand the solution as soon as new instruments become available.Primary benefits of custom software solutions
Smart long-term investment
Even though custom solutions’ development is quite costly, it exceeds expectations eventually. In addition, you avoid paying for never used features, such as licences or additional hardware.Maintenance for so long as you require
Companies are free to modify their platforms however they like, whereas, in the case of off-the-shelf solutions, both updates and improvements are under a vendor’s control. Hence, for smooth scalability, custom development is the most efficient option.A more secure system against external threats
Off-the-shelf software tends to be more vulnerable to cyber threats as they have broad availability. In comparison, a custom-developed system is harder to infiltrate since the number of users includes only a particular company’s team members.Extended support
Alongside tailor-made solutions, you also gain a corresponding technical support team. At PNN Soft, we consider the support and technical consulting as essential post-development services that shape the most effective interaction with intranet platforms.Start by establishing an efficient partnership: 5 development partner characteristics
- Proven technical skills. The first essential brick implies the robust technical expertise of your partner, allowing them to execute the task on a technical level.
- Business and Domain Experts. If a chosen vendor can boast pre-existing understanding of your business, a project has a better chance of success.
- Process-Driven and Detail-Oriented Operators. Considering Waterfall, Agile or hybrid models of collaboration, a team of engineers should be able to select the most appropriate one according to the project’s specifics.
- Great communication skills. It is crucial for all online and offline meetings and messaging to be clear, detailed, and timely.
- Qualified Project Managers. In an ideal case, PMs have to be aware of how to deal with unforeseen circumstances and keep up smooth project delivery.
How to proceed with custom software development to make it fruitful
- Define case problem or opportunity. Working in tandem with a skilled and reliable partner, your business team will be hugely surprised by how efficiently and seamlessly custom development systems can obtain strategic business objectives.
- Agree on the system type. A digital transformation may entail various forms: mobile, web or desktop solutions, cloud platforms, etc. The main thing at that stage is to incorporate the team’s vision to distil it into SoW – a precise Statement of Work that helps navigate engineers on the project scope.
- Start the development process. Time for a coding phase to begin: to make work more efficient, utilise collaboration channels, think about the length and frequency of iterations and feel free to provide input where needed.
- Testing. During the entire development process lifecycle, your partner has to be engaged in QA and testing. The latter may include incremental stages of practice and/or final testing before implementation.
- Maintenance. Even if a corporate portal is currently out of maintenance, staying in touch with engineers is a must to avoid further malfunctions.
Chesterfield drinks company purchases Hooch, Hooper’s and Reef brands from Molson Coors
Chesterfield’s Global Brands Limited has purchased the Hooch, Hooper’s, and Reef trademarks from Molson Coors Beverage Company. The brands have been produced and distributed by Global Brands since 2012 and will now form parts of its owned portfolio.
This sale to Global Brands will mean Global Brands own the brands and can now focus on them as part of their own portfolio with all the freedoms that brings.
Nino Beneta, Managing Director of Molson Coors Export and License EMEA & APAC, said: “We are excited to see Global Brands progress in growing these brands over the last decade and look forward to seeing the continued success and growth of the Reef, Hoopers and Hooch brands going forward.
“Moving forward as an EMEA & APAC Export and License team our focus will continue to be on a select portfolio of key international brands such as Coors, Staropramen, Carling, Madri Excepcional and Blue Moon.”
Steve Perez, chairman and founder of Global Brands, said: “We are delighted to welcome the Hooch, Hooper’s and Reef brands as fully-fledged members of the Global Brands family. This will give us the opportunity to invest further into the brands with the added security of owning the equity.
“We re-launched Hooch in 2012 at the Publican Awards with Keith Lemon and reinvigorated the brand, with new flavours and focus. Hooch is a staple of the RTD category sold by major retailers, and is a popular, well-loved brand. This deal will reinforce Global Brands’ position as the leading independent producer of RTD brands in the UK.
“We have lots of ideas for innovation and look forward to sharing these with the trade and consumers shortly. We have enjoyed a fantastic supportive relationship with Molson Coors over the years and look forward to continue working closely together through their route-to-market team. It’s an exciting start for GBL in 2023!”
Hooch, Hooper’s, and Reef join the expanding Global Brands portfolio – which includes VK, the biggest RTD brand in the On Trade, Franklin & Sons, the 2nd biggest premium tonic brand in the On Trade, and All Shook Up, Shake Baby Shake, Beviamo, Kick Energy, Lustre, and Amigos Tequila Beer. Global Brands are the biggest branded supplier of packaged cocktails to the UK Off Trade (by volume).
Palletforce snaps up Hastings firm
EV Cargo, a global freight forwarding and supply chain services company, has acquired, via its Burton subsidiary Palletforce, Hastings-based Dobbs Logistics from its founding family owners.
Formed in 1961, Dobbs Logistics has a long history of providing pallet distribution, general haulage, project cargo and warehousing services for its customers. The acquisition further strengthens the Palletforce network, providing members with a stable and trusted service partner in a key location.
Directors Stephen Morgan, Kevin Manser and Lynton Manser and their management team will continue to lead the business post acquisition.
Mark Tapper, chief operating officer, EV Cargo Express and Palletforce, said: “We are delighted to announce the acquisition of Dobbs Logistics, the undoubted sector-leader in its area, and welcome our new colleagues and customers to the Palletforce network. Dobbs Logistics not only meets our best-in-postcode criteria, giving our members a competitive edge, but also strengthens our overall service proposition in the Southeast for members and customers.
“We made a commitment to our members that we would put them, and their customers, front and centre in our business. In achieving that we’ve focused intently on quality service, adding 12 new members in 12 months, and continuing our investments in technology, infrastructure, and sustainability.”
Stephen Morgan, Dobbs Logistics Managing Director, said: “EV Cargo’s recognition of Dobbs Logistics as the unrivalled operator in the region is thanks to our reputation for quality and the hard work and dedication of everyone across our business.
“EV Cargo’s Palletforce network is renowned for excellence, and we are delighted to join a business which puts its members and customers first. We are looking forward to further developing our services, business proposition and securing the long-term future of the business.”
Approval for 400-bed student scheme in Nottingham
Plans to redevelop a site at the corner of Queens Road/London Road in Nottingham to create student accommodation have been approved.
The site, until recently, contained four single storey industrial units which have now been demolished.
The new scheme has been reduced from an application originally considered at a planning committee in October, where a decision was deferred for future consideration, pending a review of the development’s design and architectural approach, including further consideration of how the scheme can most sensitively contribute to the Nottingham skyline.
The original scheme proposed a trio of buildings including a 22 storey tower containing 163 BTR apartments, a 9 storey rectangular building containing 75 BTR apartments, and a 12 storey ‘L’ shaped building accommodating 406 student beds.
The first two of these buildings were removed from the scheme so that the application solely related to the Purpose Built Student Accommodation, which would form phase 1 of the overall development.
The removal of the two buildings (now forming phase 2 for the site) allows phase 1 to move forward whilst a more detailed review of their design is undertaken to address concerns raised by Committee.
A new planning application for phase 2 is anticipated to be submitted in early 2023.
Revised plans for the PBSA building, now approved, see it remain a 12 storey ‘L’ shaped building which would accommodate 406 student beds within a range of studios and 5, 8 and 9 bed cluster flats. Its ground floor would accommodate communal facilities such as lounge/study space, a cycle store, plant/equipment, a laundry and waste storage facilities. However, significant changes have been made to the building’s exterior to address concerns raised by Committee.
New facilities secured by Island Quarter developer
Conygar, the firm behind Nottingham’s Island Quarter regeneration scheme, has secured up to £47.5m to support the development.
A wholly owned subsidiary of the company has entered into a new facilities agreement with Barclays comprising a development facility and an investment facility up to £47.5m in aggregate.
The facilities will enable the completion of the construction, targeted by the summer of 2024, and letting of the 693-bed student accommodation development at The Island Quarter site in Nottingham, and are secured solely against that development area.
The company is also proposing to raise a target of £30m of additional capital through the issue of zero dividend preference shares by way of a placing in early 2023.
The net proceeds from the issue are expected to be utilised to further continue the development of The Island Quarter site in Nottingham and may also be used for further acquisitions of investment properties and in realising value from the group’s other development projects.
Robert Ware, Chief Executive of the company, said: “We are delighted to have secured the facilities with Barclays which now enables both the completion and also the subsequent letting of the student accommodation development at The Island Quarter and the further progression of the opening up of this exciting and substantial mixed-use development.”
East Midlands businesses back a better 2023 as turnover prospects shine brighter
The majority of East Midlands businesses expect 2023 to be more successful than 2022, despite challenging economic forecasts, according to the latest data from Lloyds Bank.
Almost two-thirds (65%) of the region’s businesses said they are confident they would have greater success in the coming 12 months, compared to the past year. A fifth (21%) were not confident about being more successful in 2023, and nearly one in 10 (8%) expected their business to perform at the same level in the next year. The research was carried out between December 1 and December 14 as part of additional polling for the monthly Lloyds Bank Business Barometer.
Firms in the East Midlands projected a more upbeat outlook for 2023, with over half (51%) expecting a higher turnover than in 2022. One in five businesses (19%) expect turnover to increase by between 5% and 19%, and a fifth (20%) anticipate turnover to increase by more than 20%.
When businesses were asked what they would do to fuel growth, 91% said they were planning an investment drive. Businesses reported that funding would be used for staff training (38%), new technology (34%) and developing their company (32%).
Alongside investment, East Midlands businesses plan on making several New Year’s resolutions. These include growing revenue from their existing customer base (33%), followed by improving productivity (31%). Almost half (45%) said they are planning to retain existing staff, with 19% set to invest in paying bonuses and short-term incentives. A third (33%) are intending to target growth from their existing customer base.
Dave Atkinson, regional director for the East Midlands at Lloyds Bank, said: “The East Midlands has always been a region that refuses to stand still, and it’s down to the resilience of its businesses that firms are focused on opportunities for growth despite the challenging landscape.
“Firms are approaching 2023 with a clear plan for developing their business and are laser focused on the areas they believe will help them best achieve their goals – retaining and upskilling their staff and investing in new technology. To ensure they have the working capital to fund their ambitions, businesses should carefully consider all avenues available to them and we will be by their side to offer the advice and support they need.”
2022 Made in Chesterfield festival inspires girls to consider careers in engineering and manufacturing
Girls have been inspired to consider a career in engineering and manufacturing thanks to this year’s Made in Chesterfield festival, co-ordinated by Destination Chesterfield and Direct Education Business Partnership (DEBP).
Maddy, a Year 9 pupil from Whittington Green School who visited performance vehicle specialist Scooby Clinic in Wingerworth, Derbyshire, said: “I would definitely consider a future career in STEM. There’s a stigma about STEM being just for boys but actually more women should give it a go; they can do it. It’s not just for boys.”
Maddy was one of more than 150 male and female students from secondary schools throughout Chesterfield that took part in workplace visits to companies operating in the science, technology, engineering and maths (STEM) sector during the four-week festival.
The visits, which were organised by Direct Education Business Partnership, were designed to introduce secondary school students to the varied STEM careers available in the local economy.
Sonya Martin, Out of School Tuition Tutor at Whittington Green School, praised the campaign, saying: “We’ve had quite a few female students say they didn’t realise engineering was open to them and that, actually, the work would be a lot of fun. Having the chance to bring them around different workplaces, especially Scooby Clinic, has been really good for them because we very rarely get to know what goes on in our local environment.”
Scooby Clinic was one of a number of businesses that welcomed students into the workplace during the festival. MSE Hiller, Weightron Bilanciai, United Cast Bar, Superior Wellness, Atlantic Pumps, Robinson PLC and Aztec Oils also opened their doors to students.
Aztec Oils, which is based in Bolsover and is one of the UK’s leading specialists in high-performance lubricant manufacture and distribution, welcomed students from Springwell Community College.
During the visit Year 9 pupil Lara commented: “Being here today has made me reconsider my GCSE options. It’s shown me that STEM is more than science and there are lots of jobs and so many opportunities out there.”
Julie Richards, principal of The Chesterfield College Group, explained: “It is so positive to see the impact of raising aspirations in STEM subjects with girls across the region thanks to initiatives like Made in Chesterfield. This is the latest in a long line of positive actions to breakdown any perceived barriers for young women who enter a career in STEM.
“Year on year we are delighted to see more and more young, driven women studying programmes and apprenticeships at Chesterfield College in STEM industries. These students consistently inform us that when talking to school age girls about getting into a STEM related career they should ‘just go for it!’
“Whilst they admitted they felt daunted when first entering the industry, that apprehension quickly subsided when they realised how supported and valued they were by their classmates or work colleagues.”
According to a report by The All-Party Parliamentary Group (APPG) on Diversity and Inclusion in STEM, only 27% of the UK’s STEM workforce is female compared to 52% of the wider workforce.
Made in Chesterfield, which is sponsored by the Chesterfield College Group, is now in its eighth year. The annual festival is playing a key role in addressing the technical skills shortage amongst local businesses.
Research by the UK Commission for Employment & Skills found that 43 per cent of national STEM vacancies are hard to fill due to a shortage of skilled and experienced applicants.
Ivan Fomin, Destination Chesterfield board member responsible for manufacturing and engineering in the Borough, said: “I am delighted at the impact the Made in Chesterfield festival has made with students, schools and businesses this year. Seeing so many mixed groups of students undertaking visits to STEM workplaces in Chesterfield is incredibly encouraging. Ensuring that our workplaces are diverse is critical to tackling skills shortages in the sector both locally and nationally.”
Clare Talati, Chief Executive of DEBP added: “DEBP are delighted to work in partnership on the initiative; at a time with increased pressures for schools and employers, the feedback demonstrates just how important workplace visits are in enabling young people to understand more about the amazing opportunities available locally.”
Since its 2014 launch, Made in Chesterfield has introduced over 3,500 young people to the jobs and careers available operating in the STEM sector within local businesses.
National construction firm’s Midlands and North division celebrates record year
McLaren Construction’s Midlands and North arm is reflecting on a year of record turnover and growth, with ambitions plans set for 2023 and beyond.
Alongside achieving £142m turnover for the financial year ending July 2022, the company has achieved 75 percent repeat business, winning multiple awards for its developments and expanding its team and portfolio into new sectors.
Projected turnover for the present financial year is £258m, an increase of 80 percent on 2022, and the Midlands and North division has already secured projects exceeding £100m into 2024.
McLaren’s strategy in 2022 was to focus on nurturing key client relationships, supporting valued customers through the delivery of quality developments, whilst enhancing social value through its sustainability and charitable efforts.
McLaren Construction as a whole, finished its financial year on 31 July 2022 with a turnover for the previous 12 months of £726.2m, exceeding pre-pandemic levels with an increase of £184.1m on the previous year. Turnover for the year ending July 2023 is currently forecast at over £850m, with 80 percent business already secured.
Gary Cramp, Managing Director, said: “We are extremely proud of our success in the last year, and this is all down to the amazing work of our team and our consistent approach to planning.
“The challenges following Covid have presented themselves during a busy construction market in 2022, and the industry has been presented with inflationary pressure on materials and labour resource to carry out projects.
“Despite these pressures, our solid preparation has allowed us to secure early procurement to mitigate risks to the business and we are excited by the value and rich variety of projects we have in the pipeline next year, and into 2024.
“While there are lots of positives to look forward to in 2023, we are prepared for the emergence of a tougher market, but our focus will remain on key relationships and supporting our valued customers, whilst investing centrally to enhance our social value, diversity and sustainability offering.”
