By Jeff Beyle, Co-Founder & CEO - Sticker Control

This article quickly summarizes the big improvements that simple technology can make. There are many other examples out there of how technology does not need to be complex and expensive to provide significant benefits. https://lnkd.in/em4NnMA

Sticker Control makes it easy to improve your bottom-line by solving common daily challenges – time-consuming and inaccurate inventory counts, bad inventory location data, high customer shipment error rates, unplanned equipment downtime, work-flow bottlenecks and more.  With these problems under control, your team can focus on higher value added activities, including using our system to make data-driven decisions.  If these are problems that you have and improvements you need to make, contact us to learn more about our easy-to-adopt, easy-to-use and affordable platform – via email at  jbeyle@stickercontrol.com or on 720-345-5001.

By Sandy Chockla, Franchise Owner, Expense Reduction Analysts

Another critical step is to make sure your organization knows what contracts exist with your vendors and what terms are in those contracts.  For each contract, ensure you understand if there is an expiration date or if it is evergreen.  There may be a clause that specifies that you need to inform the vendor 30, 60, or 90 days before the expiration date if you do not want the contract to automatically renew.  As mentioned earlier, other clauses may include volume or spend thresholds which make you eligible for a rebate or discount. 
 
Another important clause for some products or services will define price adjustments, allowing the vendor to adjust the pricing (up or down) based on a specified price index.  If you have a clause such as this, it is important to monitor the index and review the invoices to ensure any increases are correct.  You also need to proactively monitor to ensure you receive price decreases as defined per the contract.

​Sandy Chockla is a franchise owner and Principal Consultant for Expense Reduction Analysts (ERA).  ERA has a network of experts in more than 40 overhead expense categories which I leverage to benchmark prices, review supplier agreements, and optimize our client’s purchases or services.  This is done without compromising supplier quality or service.  If you would like to have a discussion, you can contact Sandy at schockla@expensereduction.com or call direct at 970-232-4860


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