Resources to help keep your world moving

For decades, industries have been perfecting “just-in-time” inventory management models, ordering products and materials on an as-needed basis to prevent unsold stock. On average, United States companies reduced their inventories by two percent every year from 1981 to 2000, according to a study in Management Science. By keeping inventories as lean as possible, businesses could reduce their warehousing presence and significantly cut costs. Then, COVID-19 upended the global supply chain, leaving corporations with massive stockouts, heightened consumer demand and no safety nets. Instead of waiting for the supply chain to straighten out, most companies are increasing their buffer inventories to minimize the effects of ongoing delays on their buying cycles. Nearly 60 percent of companies told McKinsey they had adopted new supply-chain risk management practices over the past year. The new approach is called the “just-in-case” model, a balance between the conventional just-in-time system and the panicked stockpile mentality. Here’s...

How many desks in your office sit unused during the work week? Before the pandemic, Inc. Magazine reported that as much as 40 percent of an office’s dedicated desk space was empty on any given day. Then COVID-19 hit the United States, and employees abandoned office cubicles for work-from-home setups in droves. As workers return to their offices, more companies are using shared seating schedules to maximize space. Envoy data suggests that the demand for flexible office environments is increasing rapidly, with hot-desk bookings growing 95 percent from April to May 2021. By eliminating assigned seating, companies reduce their physical footprints and allow employees to switch freely between remote and office work. Hot desking and desk hoteling have emerged as two of the most popular office layouts for companies with hybrid work arrangements. Though people often use the terms interchangeably, there are several key differences between the two occupancy strategies....

More laboratories are on their way to the Research Triangle. The Raleigh-Durham area is the most highly-esteemed region in the country for life science work. The Triangle is not only home to the leading trio of research universities — Duke, the University of North Carolina at Chapel Hill and North Carolina State University — but also to more than 600 life science companies, such as Pfizer and Novo Nordisk. As the local life science sector booms, national and global institutions are moving their research labs to the Raleigh region. However, relocating a lab facility can be costly, stressful and time-consuming, requiring meticulous preparation and niche industry expertise. Here are seven steps to ensure your lab relocation goes smoothly. Transfer any grants to your new institution. If you’re moving your lab to a different institution, rather than just a different location, you need to start the complicated process of transferring over any...

Medical facilities have enough responsibilities on their plates. The logistics of relocating their medical practices shouldn’t be one of them. The right moving partner can take care of the day-to-day preparations for your relocation with expertise and efficiency, freeing you up to focus on your patients. But in the sea of legitimate and fraudulent moving companies advertising online, how do you know which is the right fit for your medical office? There are some critical factors to consider when determining who you will trust with your sensitive equipment, electronics, patient files and furniture. Cut through the noise by asking potential moving partners these five questions. Are you a full-service moving company? When it comes to healthcare relocations, finding a full-service moving company is a must. Rather than just providing last-minute labor, a full-service moving company is your dedicated support for every last detail, from the initial planning and budgeting to...

As the corporate world returns to in-person working arrangements, some businesses are ditching their long-held offices for even larger spaces. A recent Gensler survey found that top-performing companies are three times more likely to expand their real estate footprint in the future to accommodate more personnel, more collaboration and other work-related activities. Though the popularity of remote work has held steady during the pandemic, companies are finally returning to the office at higher rates, making now the perfect time to begin prepping those new accommodations. The national return to office trended at 42 percent as of late March 2022 compared to 18 percent in December 2021, according to Cushman & Wakefield. If you’re considering moving your team to a new office location, kickstart the planning process by asking and answering these five questions. What’s Your Plan for Handling Your Current Lease? Examine your lease and determine the earliest date you...

The senior living industry is gearing up for explosive growth. In the fourth quarter of 2021, continuing care retirement communities reached 85.7 percent occupancy, according to Ziegler Investment Banking. As the United States population ages, the sector has the potential to reach even higher occupancy rates in the next decade. The NAIOP projected that the 75-and-older age group in the U.S. will increase by 76 percent from 2020 to 2035, creating new demand for senior living. For some senior living communities, renovating or rehabilitating the facilities is critical to preparing for this growth. Roughly 58 percent of senior living communities are more than 20 years old, according to the National Investment Center. Renovations allow property managers to upgrade their facilities, provide better support for current residents, attract new members and signal a change in ownership or services. Here are seven ways to prepare for a successful renovation. Gather feedback from...

At the height of the pandemic, white-collar workers left their city offices at rapid rates. Some say they may never return, leading developers to get creative with the now-vacant commercial office spaces. According to Quartz, downtown vacancies in the United States’ top 10 metro areas are four percent higher than before COVID-19 hit. The Business Journals reported that the downtown office vacancy rate reached 16.3 percent in the third quarter of 2021 — the highest rate in nearly four decades. Some experts are sounding the alarm that these office vacancies could persist as employees occupy less and less office space because of work-from-home schedules. Gallup predicts that office buildings in big cities could see as much as 37 percent fewer occupied desks than in 2019. Faced with increasingly empty offices, city developers are considering new applications for the vacant spaces, such as converting commercial buildings into residential housing. Adaptive Reuse...

In recent years, Atlanta has transformed into one of the best metros for business, rivaling any urban area across the United States. Atlanta’s economic development and job growth continue to accelerate, with global companies making their marks on the city. Invest Atlanta predicts that employers will create nearly two million jobs in the metro by 2040. Here are five factors that have led Atlanta to a competitive position as one of the top places to relocate your business. Advanced Infrastructure Atlanta is one of the leading transportation centers in the U.S., making it convenient for companies with national footprints to receive, ship and deliver goods. Georgia maintains the largest rail network in the Southeast with over 4,600 miles of active rail lines and 28 freight railroads. Atlanta not only serves as a hub for the state’s impressive railroad system, but it also sits at the heart of Interstate 20, Interstate...

It’s a good year to be a Raleigh business. Part of the esteemed Research Triangle, Raleigh has long served as home to a thriving life-sciences sector, cutting-edge technology and top educational institutions. However, during the pandemic, Raleigh’s rapid economic growth has even exceeded that of its Triangle neighbors. Forbes named Raleigh one of the best places for business and careers in the United States — an honor that was no surprise to local employers or employees. Data from 24/7 Wall Street shows the Raleigh-Cary metro area grew by 25.6 percent from 2010 to 2020, exceeding the state growth rate by roughly 14 percentage points. The metro’s median annual household income is around $80,000, compared to North Carolina’s median of $57,341. Raleigh’s gross domestic product has increased by more than 72 percent over the past decade, reaching roughly $95.3 billion, according to the Federal Reserve Bank of St. Louis. As Raleigh...

Take a short drive around Huntsville, and you might see several “Now Hiring” signs posted in company windows. When COVID-19 first swept across the United States, several industries laid off or furloughed workers at record rates. Now, the job market has largely recovered, but businesses face new challenges in finding workers. In November, Alabama Department of Labor data showed that the state had 28,657 more online job postings than unemployed people. Experts predict the gap will continue to grow in the coming months. Local businesses must rethink their hiring, benefits and operations to stay competitive. Here’s how three Huntsville industries have pivoted their recruiting strategies to find the help they need amid nationwide labor shortages. Healthcare Sweeping labor shortages have hit few industries as hard as they’ve hit hospitals. One in five U.S. healthcare workers left their jobs between the start of the pandemic and November 2021, The Atlantic reported....