Archive for September 2011

Managing slow moving inventory is never easy. There’s the constant concern of the inventory becoming damaged or worse, ruined beyond repair. Companies must therefore be proactive in selling this inventory when the opportunity presents itself. In this regard, a number of companies become concerned with the impacts and costs of slow moving inventory on their bottom line. So, how does inventory become obsolete and what strategies can companies adopt to stop it from happening?

When thinking of slow moving inventory, think of the company’s financing costs to retain and hold inventory for extended periods. The longer it’s held, the higher the costs and the more likely the inventory will become obsolete. To quantify these costs, Continue reading “Inventory, How Does it go From Slow Moving to Obsolete?” »

Supply ContractThe right supply contract can effectively reduce your carrying costs, improve your vendor relationships and improve your company’s market position. Most Companies don’t take the time to define what their inventory carrying really are. Are you aware of what’s included in these carrying costs and how they impact your bottom line? More importantly, do you use supply agreements with vendors to reduce the impact of theses costs, shorten turn times on material and improve your own product to market lead times? Perhaps you’re unaware of how these contracts work and their ability to streamline your supply chain. If that’s the case, don’t despair! Continue reading “Carrying Costs Reductions with Supply Contracts” »

Do low inventory counts always equate to low costs? After all, inventory is more expensive the longer it’s held and maintaining low inventory levels does help to reduce the high costs of inventory damage and obsolescence. In addition, low inventory also means the company’s is reducing its daily cost of money. However, while a company’s costs to finance inventory can be a concern, a number of companies are surprised to see just how much their inventory costs them when their inventory counts are too low. In fact, an argument can easily be made that a company’s cost to maintain low inventory is just as high, if not higher, than having too much inventory. So how is this possible? More importantly, what are the main cost drivers of a company who maintains too low an inventory count? Continue reading “Inventory Counts, What are the Costs if They Get Low?” »

Cellphone service is one of the biggest personal expenses a lot of people have. The proliferation of smart phones and high-speed service has moved extremely fast over the last few years. And that’s a great thing. Few can complain about having access to email and the internet right from the palm of their hand. But having that access comes at a price. There are some things you can do if you’re not happy Continue reading “3 Ways to Cut Big Bucks Off Your Cellphone Bill” »

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