Plummeting Costs and Rising Profits: The Picture for SMEs
Cost-cutting in business goes hand in hand with saving money and turning a higher profit. However, it does not need to be something backhanded or feared as the term might imply. In reality, cost-cutting in business does not need to be all that dissimilar to what would be done in a home. Let us explore […] ... Read More
March 8, 2018 business costs, cost reduction, small business, SMECutting Costs on Your Cost of Goods
No matter what good a company is producing, the cost of the materials needed to produce that product directly impact profits. Cost of goods sold, otherwise known as COGS, is simply the costs of the products produced and sold, or purchased and sold again by a company. The cost of goods can include the cost […] ... Read More
February 26, 2018 business costs, cost of goods sold, cost reduction, ordering costsHow Small Businesses Can Cut Costs
Small businesses often struggle to manage the costs of running a small business, often operating on a minuscule budget. However, there are in fact many small but effective changes that managers can make to cut operating costs dramatically. From managing utility bills to rethinking freebies offered in the lunch room, this articles summarises a few [ ... Read More
February 13, 2018 business costs, cost reduction, small business, SMEWorld Wide Web Wednesday #17
Whether you need some lunch time reads or something to get you past hump day, we’ve curated five links you’ll enjoy! Oracle’s founder challenges Amazon and other competitors to a battle in the Cloud In a recent meeting with financial analysts, Larry Ellison, founder and long-time CEO of Oracle shared his perspectives on why Oracle’s [&h ... Read More
December 20, 2017 Amazon, beer brewing, best of the web, cost reduction, e-commerce, inventory management, roundup, world wide web wedThe benefits of lean manufacturing for the food and beverage industry
Lean manufacturing and Total Quality Management (TQM) first came about through the work of Henry Ford, followed by Toyota in Japan. They set about to decrease ‘Muda’, a term given to everything in a process that is unnecessary, time-wasting and that results in a loss of profitability. Since their pioneering work to implement TQM and lean proces ... Read More
October 25, 2016 cost reduction, customer demand, food and beverage, lean inventory, manufacturing