Tag: Costco

Recalls And Informing Customers

With many regulatory controls
having been rolled back,
the number of product recalls
is increasing.

OUR business might rigorously
monitor quality.
But our suppliers likely
aren’t as protective of our customers.

That means
if we resell products
made by other companies
or
we use materials
made by other companies
in our own products,
we need a way
to inform customers
of recalls.

Costco is skilled
at doing this.

They track purchases
through membership numbers
and they will automatically
send emails or text messages
to members
that have purchased a recalled product.

This is all done by their systems.

Ensure any point of sale system
you purchase
has this notification ability also.

Recalls will increase.
Design your business
to easily handle them.

What Items Should You Buy In Bulk?

It is the Costco dilemma.

Yes, an item purchased in bulk
is usually substantially less expensive
per unit
than if it was bought separately
but do we really need
a two year supply of it?

I look at my monthly consumption
of the item.
I use a LOT of
white printer paper,
for example.
That might be a good item
to bulk buy.

I also look at how generic it is.
I give away
a lot of stickers
featuring my romance novel covers
every month
but I change the design
of those stickers often
so different covers are featured.
Bulk buying a year’s worth
of stickers
would be a waste of funds.

I look at the storage space needed.
I use a lot of white printer paper
and it IS generic
but that paper is bulky
and it has to be stored
in a dry place.

I look at
the use by date.
If it perishes quickly
and I don’t use it quickly,
it isn’t a good candidate
for a bulk buy.

I look at
sharing potential.
Does another business
want to split
the bulk buy?

An item bought in bulk
is only a great deal
if we use it.

Evaluate bulk purchases
before making them.