Application supplier for wholesale and distribution IBS Australia will next month host a 30 minute practical webinar analysing supply chain strategy.
The free online ‘Big M’ webinar will feature four proven supply chain initiatives to grow margins. It will appeal to C-level executives able to access the seminar from their desktop.
The webinar will stream live on Wednesday, 5 August at 11am, and again on Thursday, 6 August 2010 at 2pm AEST.
Leading IBS distribution specialist George Kinsella will lead the webinar, sharing industry know-how on growing sustainable profit and increasing market share.
“Although this event focuses on the food industry, anyone whose margins are being squeezed by buying power and commodity value should log on,” he says.
Case studies will be featured that cover best-practice procurement, pricing, communications and logistics.
The proactive webinar will also demonstrate solutions that have been implemented by well known businesses, and demonstrate the positive effect these have had on productivity and profit.
Kinsella notes that numerous case studies have confirmed that businesses large and small have been left reeling from volatile financial conditions, rapid rises in commodity costs and changes in buyer behaviour.
“As a result, margins have been squeezed and growth stunted,” he adds.
Kinsella says that many companies failed to identify the hidden costs in the supply chain that eat away at margins and directly impact on profits. Successful businesses protect their margins through targeted supply chain solutions and constantly review key areas of their business.
He points out that even a small change in gross margins can dramatically effect profitability, giving the example that “a company generating $30 million in sales working on 25 per cent gross margins and delivering pre-tax profits of five per cent of turnover, can improve profit margins by 10% simply by reducing gross margins by 2%.”
The reverse also holds, Kinsella adds, observing that a 5% increase in gross margins over three years can reduce profit margins by a staggering 25%.
The Big M seminar will present global edge strategies to assist industry executives achieve higher margins, focusing on:
- cost effective procurement
- buying and selling at the best price
- collaborating to cut costs; and
- intelligent logistics.