UNDER EMBARGO UNTIL 24 November 2016 09:00
Nobody ever got fired for spending too much on stationery… Or did they?
We have written a white paper in collaboration with Kurt Salmon (GNFR: Unlock hidden value in your P&L), exploring an often-neglected dimension of costs: goods not for resale.
Retail P&Ls are under pressure as never before. The increasing costs of servicing customer needs in store and online, the advent of the Living Wage and increasing import costs post the Brexit vote – all these factors mean that retailers need to scrutinise every aspect of their P&L to release savings. However, GNFR spend is easy to ignore. Despite playing a fundamental role in the profitability of a company, it keeps a low profile. It can often be overlooked in favour of other more attractive areas such as new product launches, market share, digital strategy or customer data.
Perhaps this is because GNFR spend does not attract much attention. If you are paying too much for back-office goods and services, it will probably go unnoticed. Nobody ever got fired for spending too much on stationery… Or did they? At the end of the year, keeping GNFR costs in check could be the difference between making a bottom line profit or loss.
To read the full PDF article please visit the Insights page on our website: www.ivosolutions.com/insights
If you would like to discuss how Ivo can help you manage GNFR costs within your business, please get in touch.
Ivo Business Solutions works with business leaders to achieve significant improvement and change. This includes strategic and operational improvement – with an emphasis on action.
We provide focused, commercial and data-driven insight to answer difficult questions, identify savings and revenue growth.
Established in February 2003 – Ivo’s credentials come from running cost reduction and procurement programmes for nationally recognised organisations, particularly within the retail sector.
- We take a whole business view of opportunity and risk.
- Have commercial drive and the passion of a business owner.
- And apply curiosity, focus… and deep data analytics.
Business owners, CEOs, and private equity firms hire us because we don’t take anything at face value, accept filtered information or averages – we are trusted to do a great job.
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