Week 5: We have insufficient stock (the importance of a first class stock platform)
Whenever a company is buying in quantity there is room for negotiations on the per unit price. Maximising a company’s buying power so that it has enough on-site workwear is key to being prepared for your company’s uniform needs. Along with maximising the buying powers, ensuring that they also have a robust inventory platform is essential. Understanding stock and seeing what items are in more demand or which get worn out more quickly allows the procurement manager to buy ahead and to cover his/her bases when it comes to making sure the staff are outfitted correctly at all times. Without a great stock platform, a company can run the risk of over or under ordering: when there’s too much stock, other costs, like warehouse space, start to add up and when there’s not enough stock, shipping & handling can increase ten-fold with smaller shipments needed to fill the gaps in inventory.
A good uniform supplier will have suggested an online platform for tracking stock and, in some cases, enable an end-user to order his/her own uniform requirements online. By utilising a strong stock management platform, a company can save millions from the bottom line and can create the best buying scenarios for themselves and for their staff.
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