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Experienced Procurement professional with a demonstrated history of working in various…
Contributions
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How can you collaborate with other departments to prevent shrinkage?
To effectively prevent shrinkage, collaboration with other departments is crucial. One way to foster collaboration is by establishing regular communication channels, such as cross-departmental meetings or shared platforms, to facilitate the exchange of information and insights. By working closely with departments like inventory management, finance, and human resources, organizations can identify potential vulnerabilities, implement preventive measures, and address any emerging issues promptly. Additionally, fostering a culture of shared responsibility and accountability across departments can encourage proactive problem-solving and the implementation of comprehensive shrinkage prevention strategies
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What is the relationship between shrinkage and profitability?
Shrinkage, the loss of inventory, has an inverse relationship with profitability as it reduces inventory value and negatively impacts a company's profits. It directly lowers gross profit margins, increases costs without generating revenue, and can lead to losses. Indirectly, shrinkage affects financial statements and erodes customer trust, potentially causing customers to switch businesses. To maintain profitability, businesses should implement inventory control measures, improve security protocols, conduct audits, and use technology like surveillance systems or inventory management software to minimize shrinkage and protect profits.
Activity
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Top bloke with a really practical approach to gaining the best out of ESG. We can help any organisation to derive multiple stakeholder value streams…
Top bloke with a really practical approach to gaining the best out of ESG. We can help any organisation to derive multiple stakeholder value streams…
Liked by Laura Toner
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A great trip to London a couple of weeks ago, so busy and productive and great opportunity to see so many Institution of Engineering and Technology…
A great trip to London a couple of weeks ago, so busy and productive and great opportunity to see so many Institution of Engineering and Technology…
Liked by Laura Toner
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The NEW inspirational Katarina Johnson-Thompson mural by Paul Curtis is finished 🤩 and it's the ‘biggest in Liverpool! 🖌️ The piece spans 30…
The NEW inspirational Katarina Johnson-Thompson mural by Paul Curtis is finished 🤩 and it's the ‘biggest in Liverpool! 🖌️ The piece spans 30…
Liked by Laura Toner
Erleben Sie
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Bildung
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Neil Fuller & Associates
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Activities and Societies: Advanced Diploma (Level 5) Completed. Professional Diploma (Level 6) Estimated Completion in 2019
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Distance Learning in my own time outside of full time employment.
Ongoing Assesments throughout the year on the following modules:
-Management in procurement and supply (Compulsory)
-Managing risks in supply chains (Compulsory)
-Improving the competitiveness of supply chains (Compulsory)
-Category management in procurement and supply (Elected)
-Operations management in supply chains (Elected)
Languages
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Englisch
Native or bilingual proficiency
Organizations
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Chartered Istitute of Purchasing and Supply
Assocaite Member
- Present
More activity by Laura
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Happy International Women in Engineering Day #INWED24. Tipping the gender balance, the Institution of Engineering and Technology (IET) has 4 main…
Happy International Women in Engineering Day #INWED24. Tipping the gender balance, the Institution of Engineering and Technology (IET) has 4 main…
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Wirral Community Health and Care NHS Foundation Trust took the decision to move their continence delivery from their incumbent supplier to NHS Supply…
Wirral Community Health and Care NHS Foundation Trust took the decision to move their continence delivery from their incumbent supplier to NHS Supply…
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Adopting this mindset changed the trajectory of my teams and businesses. Thoughts? Feelings? Share below 🤔👇🏽
Adopting this mindset changed the trajectory of my teams and businesses. Thoughts? Feelings? Share below 🤔👇🏽
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Today I am full of joy as a very proud Dad to see Dr Nadia finally after a few yrs of hard work and determination Pass her PhD in Biochemistry what a…
Today I am full of joy as a very proud Dad to see Dr Nadia finally after a few yrs of hard work and determination Pass her PhD in Biochemistry what a…
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Congratulations to all of our Capenhurst colleagues that were nominated for our #CelebratingU employee #awards! It was great to recognise everyone's…
Congratulations to all of our Capenhurst colleagues that were nominated for our #CelebratingU employee #awards! It was great to recognise everyone's…
Liked by Laura Toner
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James Gaskin is an absolute treasure! This guy GETS IT DONE 🤯👌🏼 Every week the board is FULL of ideas, actions and resolutions. A true asset to…
James Gaskin is an absolute treasure! This guy GETS IT DONE 🤯👌🏼 Every week the board is FULL of ideas, actions and resolutions. A true asset to…
Liked by Laura Toner
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It's easy for high-performing employees to go unnoticed and undervalued. Unfortunately, some leaders tend to take advantage of these employees'…
It's easy for high-performing employees to go unnoticed and undervalued. Unfortunately, some leaders tend to take advantage of these employees'…
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Many issues faced by organizations nowadays stem from ineffective leadership and management practices. While competent leaders inspire and motivate…
Many issues faced by organizations nowadays stem from ineffective leadership and management practices. While competent leaders inspire and motivate…
Liked by Laura Toner
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Today is the deadline day for the #March #CIPS #exam series. If you're still considering some extra topics or have decided to go for that re-sit…
Today is the deadline day for the #March #CIPS #exam series. If you're still considering some extra topics or have decided to go for that re-sit…
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👍 What a great testimonial from Louise at Westland Horticulture.♥️ #testimonial #ep4 #westland
👍 What a great testimonial from Louise at Westland Horticulture.♥️ #testimonial #ep4 #westland
Liked by Laura Toner
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Our team has been hard at work delivering hybrid Teams facilitated modular CIPS sessions for cohorts in Chester, Wirral, Liverpool, Bristol, York…
Our team has been hard at work delivering hybrid Teams facilitated modular CIPS sessions for cohorts in Chester, Wirral, Liverpool, Bristol, York…
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