Below is a supplier resource. Here, you can find many others, covering topics such as quiet months, operational methods, and whatever may concern the industry.
Analysis, insight, and reflection. These are the three components that every single successful company holds dear to the running to their operations every day. Whether this scrutiny is regarding small tasks like taking minutes, or large, like their order fulfilment process.
This is because blindly following processes that haven’t being critiqued in any way leaves endless room for error or under performance. Two, unsurprisingly, undesirable notions. And thing is, whilst you can be of the believe that your company is running as smoothly as possible, without any way to measure that, you’re in the dark as to whether this is truly your peak performance.
What Are Some Equipment Hire Measurement Processes
Read any business book and you’ll come across hundreds of processes that measure KPIs. Some generic, some niche. And obviously you don’t want to spend your days sifting through those - part-adapting; part-shoehorning - maybe somewhat irrelevant procedures into your operations. That, for you, would be a total waste of time. Luckily, with Rentuu, you don’t need to do that.
We’ll be running through a selection of KPIs that measure effectiveness for your company over the next few months. One term we'll be exploring is Washout Percentage, a KPI indicator that presents empirical data as to whether you should unload an item - you can find a list of terms we've explored here. Here in this resource, the focus is financial utilisation, a way to measure the true revenue earned by a product.
What Exactly Is It: exactly what we just said, a way to find out represent the real economic value of the entirety of the stock.
Why It Will Positive Impact You: right now you could be placing value in your high-end products and little value in your low-end products. Having a true economic KPI to measure your stock consults your advertising spend and stock upkeep, which if done right of course will result in a better turnover.
How Do You Work It Out: simple. You divide the product’s annual revenue by the acquisition cost, and there you have it, the final financial utilisation sum.