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indirect spend

Understanding the Impact of GNFR costs

Posted on 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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The Importance of Managing Goods Not For Resale Spend

Posted on by Lumatrak
GNFR Imagery
The Importance of Managing Goods Not For Resale Spend In a retail business, managing Goods-Not-for-Resale (GNFR) spend is crucial for maintaining profitability and ensuring long-term success. GNFR spend refers 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 spend is not directly tied to revenue generation, it can still have a significant im...
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Difference between Indirect Spend and Goods-Not-for-Resale

Posted on by Lumatrak
Indirect Spend Categories
Difference between Indirect Spend and Goods-Not-for-Resale Indirect Spend Categories Indirect spend and GNFR are two terms that are often used in the context of business expenses, but they refer to slightly different things. I was introduced to the term GNFR (Goods-not-for-Resale) when my career brought me to the retail sector, after a number of years in manufacturing. I was familiar with the term indirect spend but had never heard the term GNFR. So, after more than a decade in retail ...
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Managing Supply Chain Risk

Posted on by Lumatrak
Visual representation of a multitiered supply chain
Managing Supply Chain Risk Last month, I finished my email series discussing my supply chain digitization journey. Moving forward, I will continue sharing my experiences in managing $3.5 billion in indirect spend. Today, I will open up discussing Supply Chain Risk. Multitiered Supplier Diversity A common supply chain risk mitigation strategy is to source to multiple suppliers when a product is strategic or has significant volume. As a product, and the associated supply chain for th...
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Outcome Analysis

Posted on by Lumatrak
Impact Analysis
Outcome Analysis Last week, we touched on Advanced Analytics and the need to share supply chain status information with the broader stakeholder group in a clear, useful, predictive and actionable form. We achieved this through developing stakeholder specific modules. Importance of getting my purchases onsite Material delivery to projects is critical to the success of opening stores on schedule. Delayed materials result in missing dates. In some cases, a project would be left incomp...
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Advanced Analytics

Posted on by Lumatrak
Benefitting from using advanced analytics
Advanced Analytics Last week, we discussed Continuous Intelligence. When embarking on digitizing your supply chain, a first step is to shift responsibility for communicating current order status onto the suppliers resulting in the collection of real-time, actionable information for the business. Sharing data throughout the enterprise The next step in the digitization journey is to create a way to present this information to your stakeholders. The information has to be clear, useful...
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Continuous Intelligence

Posted on by Lumatrak
Continuous intelligence visualization
Continuous Intelligence Last week, we shared the components of a digitized supply chain. These are: Continuous Intelligence Advanced Analytics Outcome Analysis Collaborative Responses Unpacking Continuous Intelligence Today, we're going to unpack the idea of Continuous Intelligence. Prior to digitizing the supply chain, there's a lot of wasted time and resources in research, supplier communications, and business level communications to track and expedite materials to ...
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Introducing Lumatrak’s Newest Team Member

Posted on by Lumatrak
Introducing Lumatrak's Newest Team Member Hal Capshaw recently joined Lumatrak after spending over a decade leading the procurement team supporting the real estate division of one of the largest retailers in the country. Hal was responsible for $3 billion in spend across operational supplies, merchandise fixtures, equipment and systems, building materials and services. Supply Chain Challenges Hal Faced Hal's team constantly faced challenges without clear visibility to their supplie...
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Understanding the Value of Using 3PL for GNFR

Posted on by Daniel Lansky
3PL organizing their facility to service a retailer's changing needs
Understanding the Value of Using 3PL for GNFR 3PL organizing their facility to service a retailer's ever changing needs. Third-party logistics services (3PLs) are often used by big companies for nearly all of their logistics needs. However, 3PLs today have taken on a lot more responsibility for their customers than when they first came into existence. Due to their inherent flexibility to expand and contract, 3PLs have become a popular choice to manage GNFR storage and freight costs. Wh...
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Understanding the Importance of Controlling Supplier and 3PL On-Time Delivery for Indirect Spend

Posted on by Daniel Lansky
Taming the beast of Indirect Spend
Understanding the Importance of Controlling Supplier and 3PL On-Time Delivery for Indirect Spend Controlling On-Time Delivery (OTD) of GNFR purchases is a major means to protect and safeguard the enterprise’s valuable capital. Late deliveries and failures to deliver can negatively impact operations and prevent the on-time completion of mission critical projects resulting in huge losses. Gaining control of On-Time Delivery to mitigate these risks is critical. What Is On-Time Delivery C...
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