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What Is An Impact Assessment And Why Is It Important?


Impact evaluations are commonly associated with business, but in fact they are applicable to all walks of life.

In summary, an impact evaluation will look at what possible outcomes a specific action can have and how to minimize or prevent any negative outcomes.

A good example of this is article submission. You can evaluate the shipping procedure to find what are known as indicators of damage. These are the stages of the process that are most likely to result in product damage.

The answer to this is to develop a packaging method that will keep your specific product safe from the time it leaves the factory until it reaches the customer. The more product lines you have, the more difficult this can be, but the more important it is.

General life

Have you ever needed to make a decision but don't know which is the right path to choose? You will likely consider all the options and what the possible outcomes are. This is an impact evaluation!

Why is impact evaluation important?

There are a variety of reasons why impact evaluation is so important:

Costs

The most obvious benefit is cost reduction in a business environment. If you have a specific product that you sell, but 50% of them are damaged in transit, then you will want to do an impact assessment and find out how to keep the items safe in transit.

This will reduce the amount of damage and the amount of funds you have to spend by sending a free replacement.

This will lower your costs and could dramatically improve your profits!

 

Reputation

Perhaps just as important is the reputation of your company. The right thing to do when something is damaged in transit is to replace it free of charge. This keeps the customer happy and hurts your profits.

However, no matter how good your customer service is, if the same problem persists, your customers are likely to get tired. The free replacement will still mean they are waiting extra days to receive the product. This is something that most people are not happy to do in today's instant gratification society.

Word can spread that half of your products arrive broken and your reputation will be seriously damaged; it is much more difficult to rebuild your reputation than to destroy it.

 

Moral

The people most likely to detect a problem during your production or packaging process are actually the personnel who perform this process. These are also the best to ask to find out how to prevent the problem.

As a bonus, if you consult with your staff and, in particular, implement a suggestion they make, they will feel that your opinion and voice count. This will boost morale in your workplace and encourage them to mention other places where you can make improvements.

About Us:

We understand that because we are procurement professionals who built a solution so we can solve our clients spend challenges. Now with Simfoni Analytics, you too can quickly see detailed spend at a Level 4+ categorization and we provide you the insights to manage spend like the pros. With that deep vision you now have the power to drastically change your bottom line.

Website - https://simfoni.com/



 

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