Low turn rates for inventory items indicating a lack of proper usage and resulting in missed opportunities for revenues. Purchases of quantities in excess of actual demand divert cash from potentially more profitable investments. Not effectively utilizing the inventory in a timely manner can result in the individual purchasing more inventory than what is needed to satisfy current requirements. Not effectively forecasting/monitoring materials could result in an excess of inventory which has a high carrying cost and increases the risk of spoilage/damage.
Here's how last week played out:
You can tell Spring has sprung when the landscapers get to work.... And dump dirt all over the property. Thanks, contractors.
My apartment complex announced an Easter egg hunt for the kids this last weekend..
I haven't really had a need to bake anything in awhile and there are far too many ingredients in my pantry who haven't been feeling the love. Thanks to my frequent impulse buys in the grocery store, I have way, way, way too many things in my pantry. As a result, ingredients near (and pass) expiration without me even noticing!
|RIP, Mint truffle kisses and Hershey's chocolate|
|More money in the trash.. RIP, pineapple Jell-o and marshmallows|
So, I decided to do something about it this weekend, and I asked the apartment management if I could bake and send some cookies for the kids during the egg hunt.
|Responsible adult that I am - I asked first!|
|Near (or possibly just past) expiration ingredients I'd be working with|
One of the girls in the apartment leasing office emailed me on Monday to tell me her boyfriend had raved about the fudge bombs, and requested the recipe. Besides that, those snickerdoodles are undoubtedly the best ones I've ever made.
PS. Groceries aren't the only area that I'm carrying too much inventory! My sink can attest to that.
|Another example of too much stuff!|