Increasing profitability for a trading business
Industry:
Trading
Business Line:
Plywood
Background:
Imbalance in the level of fast-moving & slow-moving Inventory
Working Capital Stuck in Inventory
Delay in Collection/Recovery
Areas of Work:
MIS
Working Capital Management
Customer Relationship Management
MIS:
Streamlined accounting to match the inventory reports with books of accounts
Implemented tool for proper inventory calculations
Defined re-order levels by creating an automated mechanism for it
Identified repetitive tasks and created a tool for the assistant to save time and cost of the Purchase Manager
Working Capital Management:
Implemented an Inventory Management System classifying into four categories: A (High moving), B (Slow moving), C (Customised), D (Dead)
Created an inventory reordering decision matrix: A (Automatic), B (cross-check before ordering), C (on customer order only), D (never)
Customer Relationship Management:
Created SOPs and a CRM tool
Tracked, responded and resolved all customer queries, leading to timely collection of payments
The system took over the sales manager’s tasks, making the process system-driven, not people-driven
Impact:
No stuck up physical inventory; reducing working capital stagnation, holding costs and interest burden
Greater customer satisfaction
Timely collection of payments
Increase in sales and profitability
Testimonial:
“Ravi’s method & ideas are worth implementing to streamline your company’s operations and fuel its growth. We implemented his task management portal, which not only helped to increase efficiency but also boosted morale and awareness in employees. I sincerely hope that he keeps spreading his ideas in such simplicity and vigour.”
Ashutosh Goyal
Entrepreneurial Director, Ananta Hotels & Resort
Radisson Jaipur City Centre
Founder at Lavender: Laundry & Dry Cleaning Services
