Phire Power

Category: Inventory

  • How often should you place stock orders with a supplier?

    Suppliers generally have minimum order requirements which retailers need to comply with, especially if they want to sell their products at competitive prices. The supplier’s order requirements might include a minimum order value, a certain number of packs, boxes or pallets, or it might be that you need to order a full truckload or container…

  • Buying Stock & Staying Under Budget

    The ability to set, and stick to, a stock buying budget for your business, can be pretty simple. It should only take a minute or two to update each day and it should add tens of thousands of dollars to your bottom line over the course of a year, depending on your stock levels of…

  • What if 44% of your stock gave you 1% of your transactions…?

    Can you identify the stock that’s draining the life-blood out of your business? If 44% of your stock-holding gave you just 1% of your transactions and 6% of your annual profit… would you know about it? Would you be able to find those products? And if so, what would you do about them? In this…

  • 5 Reasons your business is still fat, weak or skinny

    5 Reasons your business is still fat, weak or skinny

    Here’s what you need to know… There’s no excuse for your business to be weak after years of trying to improve profits. Fix it by rethinking your attachment to out of date procedures. If you’ve been trying to drop the same volume of dead stock since the day you started in the business, figure it…