Single Source Contract Options
Temporary Labor Tips
Profitability Analysis: How can it help your business?
Oil and Gas Company Tips for Cost Savings
Communicate more effectively within your company:
1. For internal communications, limit emails from your corporate office to your most important people to limited hours during the day. For example, for your most important people in your manufacturing plant that you want focused on production, limit emails from the corporate office to these people to set times such as 1pm to 3pm.
2. Ensure that any policies regarding internal email are monitored and enforced. As strict as it sounds, you must have someone enforcing limited internal emails so that employees know that you are serious about not over-communicating. For example, if an employee clicks on “reply all” to an email that clearly should have only been sent “reply” to just one person, someone within the company high enough in the hierarchy should call the non-compliant employee and remind them about the company policy.
3. Hire decision makers. Over-communication occurs in many companies because employees are afraid to make decisions. By hiring people that are not afraid to make decisions in a timely manner, communication tends to be more efficient without over-communication.
Retail and Merchandising Tips
Drive higher profits in the coffee business:
1. Retail owners seem to focus 90% of their time in growing revenues but very little time on reducing expenses. While merchandising is important to grow the coffee revenue “top line”, of equal importance is reducing costs.
2. Reducing supplier costs or in this case the delivered cost per pound with your coffee supplier, will add profit to your bottom line. Keep in mind that coffee trades as a commodity and costs fluctuate daily on the open market.
3. Cost reduction with your coffee supplier could simply be performed by sitting down with them (over a cup of coffee perhaps) and negotiating the costs. For best results, you need to speak and engage several coffee suppliers or distributors and not just speak with your current supplier.
4. Larger business owners (2 or more shops) should make efforts to negotiate directly with the coffee manufacturer first and then circle back with the distributor for the markup portion of the cost. Businesses performing these negotiations effectively should capture at least 15% savings.