March 2023 - Lumatrak

Optimizing your GNFR Supply Chain

Posted on March 16, 2023March 10, 2023 by Lumatrak

Optimizing your GNFR Supply Chain The goals of optimizing the Goods-Not-for-Resale (GNFR) supply chain include: Cost Savings By identifying and tracking GNFR expenses, a retail business can identify areas where cost savings can be made, such as by negotiating better prices with suppliers or standardizing purchasing processes. Inventory management By implementing an inventory management system, a retail business can track inventory levels and identify areas of overstocking or ...
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Increasing Supplier Accountability

Posted on March 10, 2023March 10, 2023 by Lumatrak

Increasing Supplier Accountability Retail businesses rely heavily on their suppliers to provide a range of goods and services that are essential to their operations. Goods-not-for-resale (GNFR) spending represents a significant portion of a retail business's expenses and it is critical to ensure that suppliers are providing the products and services as agreed upon. Increasing supplier accountability in the GNFR space is essential for the success of a retail business. There are several...
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Understanding the Impact of GNFR costs

Posted on March 2, 2023March 10, 2023 by Lumatrak

Understanding the Impact of GNFR costs In a retail business, understanding the impact of Goods-Not-for-Resale (GNFR) costs is crucial for maintaining profitability and ensuring long-term success. GNFR costs refer to the expenses incurred on items that a business purchases for its own use, rather than for resale to customers. These can include items such as office supplies, fixtures, and equipment. Although GNFR costs are not directly tied to revenue generation, they can still have a sign...
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