Category Archives: supply chain
When Will We Start Treating Lab-Grown Diamonds Like a Product Instead of Like an Intruder? The jewelry industry continues to take polarized positions on lab-grown. It seems like every time we’ve grown past this debate, another social media group comes … Continue reading
Sometimes I listen to parents complain bitterly about things their toddlers – or teenagers – are doing; things which are totally age-appropriate. If you’re like me, you think to yourself, “as long as you’re a parent, you would have a … Continue reading
When you’re seated at a restaurant, hungry, enthusiastic about eating, you don’t turn away the wait staff, right? You might ask for a few minutes to decide, but you don’t put them off indefinitely. When you go to the salon … Continue reading
Understanding and managing product costs is one of the most challenging – and critical – responsibilities of small manufacturing business owners. This article offers common sense, achievable advice for taking control of costs and profitability. Continue reading
What you are measuring is whether or not your cost trend mirrors the industry pricing trend. In the example shown, the trendlines for the baby doll category are roughly equivalent, suggesting that costs are not decreasing at a slower rate than competitive pricing. However, the trendline for the dollhouse category indicates that costs are decreasing disproportionately to competitor selling prices, indicating a need for deeper analysis. Continue reading
Supply Chain Management represents the best opportunity to maintain your footing in a difficult economy. Buyers have particular responsibility related to high volume/high profit potential products. If any product is responsible for a significant percentage of the firm or division’s profitability, it is not enough to make sure the product or its components arrive on time and are of acceptable quality. It is also important to understand the manufacturing process related to that product, the market conditions affecting the components of that product, and the vendor’s ability to manage those manufacturing and market conditions.
Beyond those obvious high-focus products, where is the next best place for a buyer to focus their attention? On products where the labor cost is a high percentage of total cost. Why is this so important? Because your opportunities to work on productivity improvements with vendors are very high on these products. Continue reading