Profit Improvement – Big-Ticket Items – Part 3

Do You Need Profit Improvement For Your Business – Post 3

Would you like to increase your business’s profit? If your answer to the question is YES, then read on.

As mentioned in my previous posts there are various big-ticket items that can be included in your Profit Improvement Plan, the implementation of which can have an immediate impact and positively increase your business’s profit.

This is the third in the series of posts covering the big-ticket items that can help make the difference and boost your business’s bottom line:

Supply Chain Improvements

Supply Chain Improvements are often overlooked but are a quickly implementable set of actions and procedures that often account for more than 50% of a business’s Profit Improvements, regardless of that business’s size.

Supply Chain Improvements for most businesses generally include:

1. Development of procurement policies and procedures that must be adhered to.
2. Supplier negotiations, including lead times and capacity.
3. Ordering both supplies and services per the business’s written policies.
4. Knowing your capacity and bottlenecks.
5. Ensuring client quotes include current supplier pricing and your business’s capacity constraints.
6. Regular contact with all major suppliers.
7. Regular checking of competitor prices to ensure your suppliers stay honest.
8. Advising clients of any known or potential delays.
9. Back costings to ensure all costings are up to date.
10. Linking financial forecasts – including cashflows – with sales and marketing plans.
11. Working with suppliers to make it easy for you to do business with them and for them to do business with you.
12. Simplification of processes.

Easier said than done? Not when you involve Into The Blue NZ Limited. We are not only experts in Supply Chain Improvements but can also identify significant profit improvements from Supply Chain analysis and reviews that can be included in your Profit Improvement Plans.

And we’re not afraid to put our money where our mouth is because, if you engage us, Into the Blue offers most mature businesses a Zero-Risk policy… No Improvement – No Fees.

For more information please either reply to this post or email profit@intotheblue.co.nz