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|

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|

Collaborative Response

Over the last several weeks, I have talked about my supply chain digitization journey while managing a multi-billion-dollar procurement organization for one of the largest retailers in the US. Over a period of several years, we developed a platform that provided continuous intelligence, advanced analytics, and outcome analysis for our supply chain.

2024-01-22T17:49:57-06:00December 21, 2022|Business Tips, Indirect Spend|

Advanced Analytics

Advanced Analytics Last week, we discussed Continuous Intelligence. When embarking on digitizing your supply chain, a first step is to shift responsibility for communicating current order status onto the suppliers resulting in the collection of real-time, actionable information for the business. Sharing data throughout the [Read More]

2024-01-22T17:49:57-06:00December 7, 2022|Business Tips, Indirect Spend|
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