The Cost of Poor Stock Management

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 […]

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Multiple Supplier Management

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, […]

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6 Stock Strategies to Increase Your Profits

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 […]

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