Save content
Have you found this content useful? Use the button above to save it to your profile.

Getting in early

9th Dec 2014
Save content
Have you found this content useful? Use the button above to save it to your profile.

I am getting in early with my new year's resolutions - hopefully by writing them down they are more likely to happen:

Work

1) Work towards integrating Bills of Material from Solid Works (engineering design software) with Sage 200 - the accounts software. This should remove a lot of re-keying, and help the purchasing process.

2) Improve on the EOQ ordering process and cycle counting that we introduced in the beginning of 2014. Hopefully the overall stock value can be reduced, whilst still maintaining coverage.

3) Make more use of budgeting - at present it is a once a year activity, but we don't really circulate actuals to budget to the department heads.

4) Work towards a bit of a 'less paper' approach. I have already planned not to require copy sales invoices to be printed out sequentially. I got rid of printing out PDF journal copies at the beginning of this year.

5) Improve cash collection. We are rigorous about putting customers on stop at 60 days (end of 2nd month) - which helps, but I find more customers are stretching out payment. Where it used to arrive in day 3 of the third month it tends now to be day 10. I would like to enforce our actual terms (30 days end of month) but in reality that would be a bit tricky. Reliable payment in the second month is OK for now.

6) Change banks - we have the go ahead from one bank, a bit daunting about how to get all the ducks in a row, so we don't get issues.

Extra Curricular

1) Be a more effective school governor and charity trustee - I have done both for a year or so now, so a bit more familiar with what is going on. Time to try and get more involved to make an impact.

2) Support my wife's business - which launches at a trade show at the NEC in February. Plans are well afoot with most of the products designed and produced now

3) The bus driving is still in the plan - for spring time..

Tags:

You might also be interested in

Replies (0)

Please login or register to join the discussion.

There are currently no replies, be the first to post a reply.