K3S Helps Optimize The Inventory Buying Process
As a young man, our founder, King Harrison III, attended a basketball camp at Davidson University. Lefty Driesell (Davidson’s coach) held that clinic and enlisted
Are you out of toilet paper? Me too! And so is every store in town. But why? Let’s face it, on the list of things you NEVER want to run out of, Toilet Paper is pretty high on most consumers’ lists. But the multiple shortages of 2020 are not just because some people are buying enough for an entire NFL team. At K3S we are inventory experts and we wanted to explain what’s REALLY going on.
For years, finding the most successful distributor was easy. All you had to do was look at the number of times each year they turned over their inventory. The more their inventory turned, the less they were paying in carrying cost. The less they paid in carrying cost, the more profitably they could operate.
The most efficient, effective, and profitable distributors use an advanced inventory package to help them purchase their inventory because it makes a tremendous difference in their bottom line. Maybe you know that purchasing with spreadsheets is not the best way, but you do not know why.
How much do you think it costs to carry inventory in your warehouse? Like an iceberg, the bulk of your carrying cost lies hidden below the water. This is the part of the iceberg that can sink your company if not recognized soon enough. Read more to explore some of the areas that contribute to the total cost of carrying inventory and why it is important to remember them as you consider the amount of inventory you can comfortably carry.
King III Solutions, Inc.
Suite 136 #142
1205 Johnson Ferry Road
Marietta, GA 30068
Phone number: (877) 725-1305
Email: [email protected]
