The Management Team section should include biographies of key team members and detail their responsibilities. It is important that these biographies are not merely resumes that include educational backgrounds and previous job titles and responsibilities of team members. Rather, biographies should highlight most relevant past positions that individuals have held and specific successes in each. These successes could include launching and growing new businesses or managing divisions of established companies.

Team member biographies should be tailored to company's growth stage. For instance, a start-up company should emphasize its management's success launching and growing companies. A more mature company should emphasize how team members have successfully operated within framework of larger enterprises.

The issues that companies face when they decide to build a solution in house are numerous: Scarce development resources, project cost overruns, delivery delays, unexpected technical issues, long-term maintenance issues. For these reasons, you should consider purchasing hosted, flexible, "out-of-the-box" vendor managed inventory (VMI) and web-based inventory solutions that can be running in five days, all at a fixed monthly price - with no delays, low risk and a lower total cost of ownership.

At Invendia we've often seen companies struggle with decision to buy a technology or to build that solution in-house. The decision criteria typically are:

•Availability of qualified development resources •Long-term maintenance staffing •Implementation time and costs •Project risk •Process understanding •3rd party objectivity

So, what are top six reasons to buy rather than build an inventory management solution?

6. Availability of qualified development resources. If you have available resources that are experienced in developing web-based, distributed solutions then you should consider building your own solution in house. In addition, your staff should ideally be knowledgeable about leveraging development standards such as J2EE or .NET. If not, you should source an off-the-shelf solution that can readily integrate with your existing applications. 5. Long term maintenance staffing. Once you have a solution, how are you going to keep it current, from both a technology and from a process point-of-view? For example, in last few years RFID, collaboration, wireless and countless other developments have forced companies to update their processes. With ever increasing innovations, you need to ensure that you are staffed to manage not only system upgrades but any errors that you may discover. If you either don't have staffing for this or don't want headache, then you should consider a "bought and maintained" solution.