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]
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.
Outcome Analysis Last week, we touched on Advanced Analytics and the need to share supply chain status information with the broader stakeholder group in a clear, useful, predictive and actionable form. We achieved this through developing stakeholder specific modules. Importance of getting my purchases onsite [Read More]
Understanding Indirect Spend Impact upon Profitability The majority of businesses tend to place a much greater emphasis on growing their top line rather than on reducing their costs. In terms of buying, there is that much greater emphasis on how many widgets can be sold [Read More]
Understanding Indirect Spend VS GNFR Indirect spend is the total costs a company must put forth to operate the business, and GNFR is a subcategory of indirect spend. It includes goods and services purchased from outside vendors that are not resold. These purchases are normally [Read More]
Understanding Indirect Spend In any area dealing with procurement, you will likely hear the term “indirect spend,” along with “direct spend.” You might also hear references to “indirect materials,” “GNFR,” “indirect procurement,” “overhead,” and “variable and fixed indirect costs.” It may come as a surprise, [Read More]