Owned and Operated - A Plumbing, Electrical, and HVAC Business Growth Podcast #164 - "We Lose $1,000s Every Day": The Simple Fix to Streamline Your Accounts
19 snips
Jan 28, 2025 Discover how to optimize service truck inventory and purchasing to cut costs effectively. Learn about the importance of a solid purchase order system and stronger vendor relationships. Hear tips on negotiating with vendors and keeping inventory in check to save big bucks. Explore innovative mobile truck setups and the advantages of using AI to improve operational efficiency. Plus, gain insights into simplifying inventory management and revolutionizing HVAC practices for better growth.
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Control Purchasing
- Centralize purchasing and restrict buying access to only a few approved individuals.
- Communicate this policy clearly to all vendors and refuse to pay invoices that don't adhere to it.
Costly Mistakes
- Jack Carr found $60,000 in billing errors and duplicate purchases.
- John Wilson's company finds thousands of dollars in daily mistakes, like being overbilled for refrigeration caps.
Restrict Technician Buying
- Restricting technician purchasing is crucial, as they tend to overstock trucks.
- Centralize purchasing through a few approved buyers to avoid unnegotiated prices and overbuying.