Running a business requires up-to-date inventory management. When the demand for your products or services is high, you need an accurate inventory ledger to ensure production is meeting consumer demands. Conversely, when demand is low, business owners need to slow down production to prevent excess stock accumulating, as that risks destabilising inventory. Luckily, a few simple metrics can help you accurately measure your inventory so you can determine your business' production rates over time. We discuss what inventory turnover ratio is, its importance, and how it can help stabilise your inventory and improve business cash flow.

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Topics: clear excess stock, increase sales, trade dollars

With 2020 comes a new decade, and with it, a new range of challenges every successful business must overcome to increase sales and grow their customer base. How can you set your business up for success, while also setting yourself apart from your competition? Here are some tips from Dr. George Day, a marketing expert at the University of Pennsylvania.

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Topics: clear excess stock, attract new customers, save cash, trade exchange, increase sales, business needs, trade dollars

The iconic Devon Hotel in New Plymouth, New Zealand has the region’s highest rating as a Qualmark 4 Star Plus gold-rated hotel and conference centre. They put their visitors on the doorstep of the CBD and all the most visited attractions in New Plymouth. They’re also committed to supporting local communities and sporting groups and have been providing Bartercard members luxury accommodation for the past 23 years.

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Topics: growing your business, hospitality, fill downtime, clear excess stock, attract new customers, unrealised potential, increase sales

Many Bartercard members are shining examples of how the network’s alternate payment of Trade Dollars can be utilised to benefit their business and lifestyle. Maximising cash flow, retaining customers, and keeping stock moving are all important elements of any business, so using Trade Dollars to buy and sell goods and services can offer a wealth of advantages for business owners.

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Topics: growing your business, increase profit, increase cash flow, fill downtime, clear excess stock, small business, attract new customers, save cash, trade exchange, spare capacity, build business networks