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100 WAYS: #18 Lock the Supply Cabinet
– January 17, 2011
Typical savings can be up to 30% of your office supply expense by instituting simple controls. Consider having a requisition system where employees fill out a purchase form and orders are then placed in bulk, as needed. Investigate substituting generic products for name brand products. You need somebody that is going to monitor your office and shop supplies.
If your office has a considerable amount of confidential documents their might be a significant amount of third party shredding expense. Be sure to educate your employees on what is considered confidential, and needs to be shredded, and what can simply be thrown away. Greater employee awareness should create significant cost savings in this area.
This is Profit Enhancement Idea #18 in Heard, McElroy & Vestal's 100 Ways: The Profit Enhancement Process series. The purpose of the series is to assist business owners and managers in cutting costs and increasing revenues by working smarter, not harder.
Walker Coburn
318.429.2109
wcoburn@hmvcpa.com
Walker is an Audit Manager in our Shreveport office. He received his Bachelor of Administration in Accounting and a Masters of Accountancy from Millsaps College in Jackson, MS. Prior to returning to his hometown of Shreveport and joining Heard, McElroy & Vestal, Walker worked for KPMG in Jackson and Memphis, and more recently as a financial reporting advisor for FedEx Corporate.
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