Back in 2013 we focused on Pad and how to use it. Because we care about our reader's margins we need to make sure you sell your products with the correct cost. Today's focus will be  carrying costs. We visit this today to make sure your costs are covered while updating our previous News Letters

I know how tough that questions is. Today is centered on a topic we introduced back in 2005. We are reaching backwards, but running a growing business is a real handful without the data we have been talking about the last few weeks. The calculator of modern times, called Excel, is the main choice for Business Intelligence today.

Last week in talking about the inventory turn component of T&E ratio we focused on the Turn standards. Today let’s focus on the E for Earn to get your Goss Profit. We want to focus on items that generate high gross profit. All items and their mix are very important, but remember the 80/20 rule.

 

We'll keep following last week's thread about Inventory Management and Profitability.   Food is a very unique industry, so making sure we measure ourselves against our industry cousins is important to understand the standard we are measured against. Got to know the other guy's score to see if you are a winner. Again focusing on inventory value and getting it right is one of the two key elements of our T&E analysis.

Twelve years ago we introduced a key measurement of good inventory control: The turn and earn index. The concept is simple but good inventory control figures are important to make sure your turn and earn ratio is correct. Visiting this concept again, and showing how you can measure it, is a good way to grade your business profitability.

For several years the trend has been to eat healthy. We have chronicled the growth of these healthy markets. Today we will take a look at three main areas that have added to this growing trend and the market effects they have on us and our food.

Seems every non 'quick-serve' restaurant is trying to exploit the farm to table movement. We have spoken about this for many years and are fortunate enough to have a number of customers making their living in that market. A lot of people don’t realize the accountability the true players are required to maintain, especially as more retailers are selling produce direct from farmers. Let’s do more explaining.

 

In our spring update, we talked about the ups and downs in the Food Marketplace. With summer almost behind us and we continue to see the landscape change.  For decades food appeared to be a slow changing industry, but now we are truly in a disruptive and transformational state. Time for some quick updates as fall approaches.

This week we dig deeper into Best Business Practices and focus on fabricators and protein processors. These businesses require special techniques to ensure the correct item is be processed and delivered.

You processors have very specific ways to produce items. At $15.00/lb you better make sure you’re doing it right.

 

Last week we discussed some of the advantages brought to the table by employing Best Business Practices. Today we will move to Part 2, Picking the Right Item. Over the years we have harped on getting the catch weights right, but as we will see today that is only one component of our best business practices. Eliminating runbacks and keeping your customers satisfied are critical to your business.

Issue 631 - Turn and Earn, we need a reminder.

Being that a lot of vacations are happening right now I thought it would be a good time to re-publish our turn and earn issue that we did back in 2005. Although it's an older News Letter it's one that shows you how good your inventory is doing from a profitability standpoint.

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