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How to Protect Your Food Business eGuide

Question:

How to protect your food business?

Answer:

All businesses make purchases of one kind or another whether it is food, beverages, kitchen equipment, dining room furniture, etc or simply office supplies. Over-investing in stock is a frequent cause of business failure. If stock ties up large amounts of capital, it means there is less money available to pay creditors, meet operating expenses or for other capital needs. Stock levels that are too high can lead to a cash crises and liquidity problem. 

How to Protect Your Food Business eGuide

Ingredients

4 Ingredients to manage this asset and free valuable capital.

Purchasing Stock

General principals that govern good receiving and checking procedures. Determine what, how much and when to order and how to place and check orders. 

Dealing with Suppliers

Find, choose and negotiate with suppliers. Know how to prepare a Product Specification Form.

Storage and Handling of Stock

Understand stock control systems. Decide on your layout, fixtures and methods to use to determine current stock levels and how to conduct a stocktake. 

Kitchen Security and Loss Prevention

Find out how to protect your business assets. Steps that can be taken in order to reduce pilferage, wastage or damage of company property. 

Method

Buying the cheapest products may not always be the cheapest end result. Enquiries about delivery charges, delivery times, after sales support, insurance, taxes, training, warranty, availability of spare parts and discounts for prompt payment provide a picture of the overall costs – not just the purchasing price. Alternatively, you can look at whether you may buy, lease or hire a certain item. There is also the alternative of paying with cash or getting finance.

Improving the efficiency of purchasing does not have to be difficult. It may simply be improving the planning stage to more clearly define the goods required, time frames and performance measures.

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So, what are you waiting for? 

Let us help you to free valuable capital by managing this asset.

eGuide:

For a low investment, download a copy of How to Protect Your Food Business eGuide it is easy to read with lots of examples, case studies, tips, and activities…knowhow you can use in your own business immediately. This eGuide is delivered online, so you can access it from your computer at a time convenient to you.

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How to Protect Your Food Business eGuide

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