There are many different products you can recycle to help reduce expenses. If you have a photocopier then use both sides of the paper, or buy refillable ink cartridges for your printer. By taking the time to recycle it's possible to save a considerable amount of money over a period of time.
Hints and Tips :
- Create a recycling mission statement and hang it proudly.
- Encourage your team to come up with ideas on recycling - you may even have a "green thumb" award for stand-out suggestions.
- Look around and check what other companies are doing on the recycling front and borrow their ideas.
Decrease Range:
The longer an item sits on your shelf, the less profit you will eventually make from it. If you eliminate your slow moving stock and only carry those lines which sell quickly you can make more money per item sold.
Remember, the greater the range, the more suppliers you have accounts with, the more shelf space you need, the more money you have invested in stocks, the more costs and so on.
Hints and Tips:
- Monitor the movements of every item.
- Invest more in those items that move fast.
- Don't be afraid to sacrifice, at cost, stock that hangs around too long.
- By buying more fast moving items you should be able to negotiate bulk deals with your supplier.
- As a result, you can offer better bulk deals to your customers.
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