For start-ups that have inventory, managing that inventory becomes the most important part of your new business. It’s far from exciting, but it’s how you make a profit. It’s also more complicated than it looks. Read more
Transcipt of an interview with Paul Trudgian for DestinoNegocio, the entrepreneurship website for Latin Amercia. Read more
Inventory is usually the biggest cash investment a business makes every year and if you do not have an inventory policy, then that cash investment has no approval process. Read more
Does your company frequently encounter high and low periods of customer demand, ones where that demand suddenly, and quite unexpectedly, rises and then declines gradually, or worse, disappears overnight? One minute you’re struggling to keep up with the opportunities in front of you, and the next you’re left with an excess amount of product on your shelves.
Reducing your company’s inventory costs is never as simple as just cutting back on inventory levels.
When faced with this situation, companies invariably turn to calculating their economic order quantity (EOQ).
As a small and medium-sized enterprise (SME), and or entrepreneur, you’re well aware of how much time, effort and money it takes to win new business. Unfortunately, there’s always the threat of larger competitors coming in and stealing what you’ve worked so hard to close. So, should you resign yourself to this fate, or should you instead use a strategy to ensure that you not only keep your customers, but that you never lose another sale to a larger competitor again?