What’s the impact of poor stock management on your business?

Transcript

Taggart: “G’day, it’s time for another Taggart Tip.

The question for the today is: How important is stock management?

And the answer is,

If you carry stock in your business, its vitally important.

Stock affects your profitability and your cashflow.

Too much stock may mean you’ve got profits tied up in your business.

Not enough stock means may mean might be missing out on sales.

The wrong stock mix could affect your growth profit margins.

So, my tip for a more successful, more profitable business;

Is to make sure that you monitor your stock regularly;

At least on a monthly basis – not once a year, and make sure you understand how stock impacts your business.

That’s my tip for the day”

Interested to find out more, get in touch with the dedicated business advisors from Taggart & Partners on (07) 3391 1188 and learn how you can effectively manage your stock mix to improve cash flow and grow your business.

Thank you tuning in to watch another of our Taggart Tips, a series of short video tips that can help you run, manage and grow your business. We hope you have found the information useful and will have a new Taggart Tip out for you shortly. For any urgent concerns we encourage you to get in touch with the team at Taggart & Partners today.

*** Our series of Taggart Tips are intended for guidance purposes only, and professional advice should be obtained before acting on any information contained herein. Neither the publishers nor the distributors can accept any responsibility for loss occasioned to any person as a result of action taken or refrained from in consequence of the contents of this publication.

Updated 8 July 2020

Call Now Button