Lumatrak

About Lumatrak

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So far Lumatrak has created 24 blog entries.

Optimizing your GNFR Supply Chain

Optimizing your GNFR Supply Chain The goals of optimizing the Goods-Not-for-Resale (GNFR) supply chain include: Cost Savings By identifying and tracking GNFR expenses, a retail business can identify areas where cost savings can be made, such as by negotiating better prices with suppliers or standardizing [Read More]

2024-01-22T17:49:55-06:00March 16, 2023|Business Tips, Indirect Spend|

Increasing Supplier Accountability

Increasing Supplier Accountability Retail businesses rely heavily on their suppliers to provide a range of goods and services that are essential to their operations. Goods-not-for-resale (GNFR) spending represents a significant portion of a retail business's expenses and it is critical to ensure that suppliers are [Read More]

2024-01-22T17:49:55-06:00March 10, 2023|Business Tips, Indirect Spend|

Understanding the Impact of GNFR costs

Understanding the Impact of GNFR costs In a retail business, understanding the impact of Goods-Not-for-Resale (GNFR) costs is crucial for maintaining profitability and ensuring long-term success. GNFR costs refer to the expenses incurred on items that a business purchases for its own use, rather than [Read More]

2024-01-22T17:49:55-06:00March 2, 2023|Business Tips, Indirect Spend|

Supplier Evaluation

Supplier Evaluation Reasons for reviewing existing Suppliers Regularly reviewing and evaluating the performance of existing suppliers is extremely important in the Goods-Not-for-Resale (GNFR) space of retail. There are several reasons why regular supplier performance reviews are important: Identifying areas for improvement Regular reviews allow a [Read More]

2024-01-22T17:49:55-06:00February 23, 2023|Business Tips, Indirect Spend|

The Importance of Managing Goods Not For Resale Spend

Managing Goods-Not-for-Resale (GNFR) spend is crucial for maintaining profitability and ensuring long-term success. It is important for a retail business to develop and implement strategies to manage GNFR spend effectively.

2024-01-22T17:49:55-06:00February 2, 2023|Business Tips, Indirect Spend|

Difference between Indirect Spend and Goods-Not-for-Resale

Difference between Indirect Spend and Goods-Not-for-Resale Indirect Spend Categories Indirect spend and GNFR are two terms that are often used in the context of business expenses, but they refer to slightly different things. I was introduced to the term GNFR (Goods-not-for-Resale) when my career brought [Read More]

2024-01-22T17:49:55-06:00January 25, 2023|Business Tips, Indirect Spend|

Onshoring Considerations

Onshoring Considerations In today’s globalized economy, many companies have turned to offshoring, or outsourcing the production of goods and services to countries with lower labor and production costs. However, the current climate of multiple supply chain disruptions has led some companies to re-evaluate their reliance [Read More]

2024-01-22T17:49:56-06:00January 18, 2023|Business Tips, Indirect Spend|
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