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When many of us set up our item databases, we are baffled at the number of fields available for capturing the price that we paid our suppliers for a particular. This Distribution Team article focuses on the “Standard Cost Field”, a little known field that can generate phenomenal net profit gains.
Part 2: In the conclusion of this series, key considerations for businesses during slowdowns include liquidating dead inventory, implementing perpetual dead stock management, exploring variable compensation for teams, and reviewing energy consumption for cost reduction, highlighting the need for proactive measures in challenging economic times.
In response to workforce challenges, distributors are reconsidering outsourcing for functions like freight negotiations, fleet management, training, marketing, HR, and credit management, embracing a “who, not how” approach to optimize efficiency and cost-effectiveness in a competitive labor market.
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