Staying in business can be just as challenging as starting the business. Over time expenses add up and overhead has the tendency to increase. Properly planning your inventory purchases can significantly reduce the annual expenses of your business. Here are a few tips to set you on the path to higher productivity.
Implement a "Cycle" Counting Program
For a more accurate picture of your business's inventory needs track every in-house item required for operational purposes. Be sure to sync your cycle count with an efficient supplier. To optimize your accuracy preset your "cycle" to a predetermined sequence based on the results of your tracking report.
Make Training a Priority
One of the highest factors in low productivity are teams that under perform as a result of little to no training. Training can be daunting but the rewards are limitless. Set your business above the bar with consistent staff trainings to ensure top level performance.
Catch the Errors
Use thorough reporting processes to track routine errors. Identify if these errors are a result of the processes themselves or caused by human errors. If errors are re-occurring reevaluate the structure of that particular process. Encourage your staff to join in on the project to increase efficiency. Build a presentation for the office with your results and attach employee rewards to the outcome.
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