What is paid to the supplier is only part of the true cost of holding stock. Businesses that purchase stock, both for production and direct re-sale, will be familiar with the term ‘carrying cost’, which is the sum of: Purchasing the stock Warehousing Handling/delivery Damage and loss Flowlens cloud MRP, with integrated purchasing, job cards … Read more
Globalisation has changed the playing field for businesses, in particular manufacturing companies. There is the opportunity to reach customers in foreign markets and supplier relationships are now on a global scale. However, this brings with it the added risk of external factors such as natural disasters, political instability and currency fluctuations. Now, more than ever, … Read more
Every business needs supplies, whether it be day-to-day necessities like photocopier paper or materials for manufacturing car parts. Ensuring that the key components that a business relies on are available when needed is the responsibility of the Purchasing Department. Businesses strive for ‘purchasing efficiency’, whereby materials purchased meet required quality standards at competitive prices. In … Read more
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