Thursday, February 17, 2011

Inflation or recession:How to reduce the cost

yes boss...... i will do it...... in just 30 minutes...!!!!!

 yes sir ...give me just 1 day to increase the margin....

of course sir........we should have a meeting to fix it out.....

i will kick you out...if you ll not perform well...give me leads....:/

what are you doing you are the manager ...your responsibility is to give sales volume...

you are the finance manager ...why not trying to cut down the cost...its inflation time...

don't worry guys...these are the day to day questions in the corporate world......be happy to face the challenge..there's no other way to escape from it....so keep a eagle eye on the following aspects...

1. TRY TO BRING BARTER SYSTEM INTO YOUR BUSINESS..OLD IS GOLD..YES

If you have a business you should be bartering goods  and services with other businesses. You should try to
trade for something before you buy it. Barter deals usually require little or no money.where as i came to know that Corporate barter exchanges typically use media and advertising as leverage for their larger transactions. 

while on the other hand it entails the use of a currency unit called a "trade-credit". The trade-credit must not only be known and guaranteed, but also be valued in an amount the media and advertising could have been purchased for had the "client" bought it themselves.
you can also utilize the  internet barter also..more like a e-commerce..but be aware...it builds up on the trust of the counter party...there should be some comparable good/services with both of the party to deal with...but risk is very high...also chances of being cheated or dissatisfaction is always there.

According to the International reciprocal association  the industry trade body, more than 400,000 businesses transacted $10 billion globally in 2008 — and officials expect trade volume to grow by 15% in 2009 .

2. YOU SHOULD HAVE A FOCUSED NETWORK CONNECTION IN HAND...BECAUSE CONNECTION  MATTERS..

always try to do networking your business with other businesses. You could trade leads or mailing lists. This will cut  down on your marketing and advertising costs. You may also try bartering goods and services with them.A good connection may provide you with great opportunities and long term relationship to climb the ladder of growth.but be flexible and have back ups to fight at the complex market.

3. WHOLESALE/BULK DEALING MAY BE ONE OF THE CONTROLLER.

You'll save money buying your business supplies in  bulk quantities. You could get a membership at a
wholesale warehouse or buy them through a mail order wholesaler. Buy the supplies you are always
running out of.always try to get orders in bulk quantity and also do try to emphasis on the term economic ordering quantity.as a manager you should have a sound knowledge regarding all such aspects.otherwise the cost factor will over rule you and so on.

4. TRY TO UTILIZE THE FREE STUFFS ON THE INTERNET SITES.

yes my dear friends...i think your are getting my points now.You should try visiting the thousands of freebie sites  on the internet before buying your business supplies. You can find free software, graphics, backgrounds, online business services etc.it really work and worthy while matter for the business.always try to grab the attention in the market,create positive WOM in the market...as per the recent market research  studies people prefer those corporates suppliers or manufacturers with noise in market for their innovation in every aspects.always try to keep the social media in track as it growing rapidly.

5. BORROW/RENT EQUIPMENTS ON CONTRACT OR RENT BASIS...

Have you ever purchased business equipment you  only needed for a small period of time? You could
have just borrowed the equipment from someone else or rented the equipment from a "rent-all" store.don't go for a full ownership of equipments/machinery in this point of time...you should wait until the time being get stable.

6. KEEP AN EYE ON THE ONLINE BIDDING AND ONLINE AUCTIONS

You can find lower prices on business supplies and  equipment at online and offline auctions. I'm not
saying all the time, but before you go pay retail for these items try bidding on them first.yeah..there is always  a good opportunities for getting a better deal in the auctions.




7. ALWAYS BE READY WITH THE FUTURE REQUIREMENTS

Make a list of business supplies or equipment you'll need in the future. Keep an eye out for stores that
have big sales. Purchase the supplies when they go on sale before you need them.just think about a company like apple, Accenture,IBM sticks to the outsource solutions..and  just imagine...how do they prepare their supply chain system requirements to meet the market demand.

8. TRY TO GET USED STUFF...BUT BE CAREFUL BEFORE GOING FOR IT ..FIRST TRY TO GET THE INFO..WHY DO THEY WANT TO SELL..

If your business equipment and supplies don't need  to be new, buy them used. You can find used items
at yard and garage sales, used stores, used stuff for sale message boards and newsgroups etc.

9. NEGOTIATION IS ONE OF THE CHALLENGING FACTOR EVER

You should always try negotiate a lower price for  any business equipment or supplies. It doesn't hurt
to try. Pretend you are talking to a salesman at a car lot.go for a win win strategy..it may be help you future also.because a good negotiation can make a real time company.

10. DON'T STOP ANYWHERE..DO SEARCH FOR A BETTER DEAL

Finally my dear friends...You can always be searching for new suppliers for  your business supplies and equipment. Look for suppliers with lower prices and better quality. Don't  just be satisfied with a few.be updated about the market price,offers and trends...then search for a better one..not like girls..who always searching for a better boyfriend..you should be loyal to the present suppliers and dealers..at the same time be flexible to move on..keep your suppliers update about the urgent requirements..get him noticed before the reasonable time..if your needs are not met and your are not able to finish the org. goal,then be prepared for the next round red bull fight......