The one thing a business simply cannot afford to do, whether it be a multi billion dollar company or the local green grocer, is lose money. Money, income and, more specifically, profit are the lifeblood of all businesses. Many companies do, however, lose money – whether it be in their quarterly fiscals or for their overall financial year. We all know that losing money for a business is bad news, but what areas can companies look at to try and earn some of it back, without trimming their workforce?

Many people consider smaller losses to be acceptable in running a business and, granted, you will lose a small bit of money in cases like out of date stock, or over ordering on equipment by mistake or out of safety. However, working for a multi billion pound company has opened my eyes to that kind of “small” expense adding up. People over stock, people over order, people don’t stock rotate properly allowing hundreds of pounds worth of equipment to pass its expiry date, effectively wasting that money.