Your business's basic stock should provide a reasonable assortment of products and should be big enough to cover the normal sales demands of your business. If you're a start-up, you won't have actual sales and stocking figures from previous years to guide you, you must project your first year's sales based on your business plan. When calculating basic stock, you must also factor in lead time-the length of time between reordering and receiving a product. For instance, if your lead time is four weeks and a particular product line sells 10 units a week, then you must reorder before the basic inventory level falls below 40 units.
35 Business Controls Your Company Needs to Successfully Scale
How to Start Pest Control Business in 8 Easy Steps - 99BusinessIdeas
One of the most common questions I get asked by audiences when I'm giving a keynote address to a business owner group is how to balance the need to hand off decision making responsibility to your team as you grow, with the reality that many times they will make poorer choices and obvious mistakes that you wouldn't have made if you'd just kept control of the decision in the first place. If you've ever felt that temptation, here is a new way of seeing the situation that has helped many of our business coaching clients scale many times larger while at the same time protecting the business and making it more resilient. Controls are a subset of business systems which specifically help protect your company from careless, costly, or uninformed decisions or behaviors. When you build a business versus a job, you want your team to have the authority to get tasks done without running everything past you. You want them to take the initiative and have the discretion to make decisions and get valuable work done without you being the limiting factor that slows the business down. At the same time, you want to ensure that the business is protected -- that the right things are getting done, at the right time, and hence producing the right results.
In most Western European companies, both roles coexist and there is little misunderstanding what they do. What I do note is that the role of a controller in the US is given a different interpretation and is completely geared towards protection of assets and managing risks. The difference between Financial Controller and Business Controller is hardly relevant in the way they work.
With this in mind we intend our marketing programs to expand accordingly. The introduction of quality catalogues and sales literature will enable Sedibeng Breweries to market to potential customers. We project sales to increase accordingly, though slightly slower as we establish a reputation for ourselves. With time, a presence on the Internet and participation in regional trade shows will be key milestones to expanding sales and marketing potentials through the utilization of new channels and identification of potential customers. Throughout the year we intend to undertake regular evaluations of our marketing programs so as to ensure that we are in-line with our intended objectives.