If you live in Orkney and have any concerns about your potassium levels, then fear not.
The Kirkwall branch of Tesco recently ordered 38,000 bananas by mistake.
Given our proximity to the shop, we’re popping in to get ourselves a bunch before launching an a-peel to businesses to take more care with supply orders.
How do supply order slip-ups happen?
The oversight with Tesco’s bananas is being blamed on human error, where a person went to order 380kg of bananas and accidentally ordered 380 wholesale boxes.
This resulted in Orkney’s population of 22,000 being in the prestigious position of being able to get 1.73 bananas each, all from a single location.
As we come to terms with being temporarily outnumbered by yellow fruit, it might be time to dust off the banana bread recipes that were a staple of pandemic life.
Still, if your business is serious about revenue and doesn’t want to monkey around with money, then there are lessons to be learned from this.
Errors can happen with anything, but supply orders need to be taken particularly seriously in light of the current economic climate.
How can supply order slip-ups be prevented?
Businesses are facing increased operational costs and it is imperative that they do all they can to operate as efficiently as possible.
Unchecked errors will see you split from money that should not be wasted and could cause harm to your business in the long-run.
As such, all supply orders should undergo a verification process to ensure that the details are accurate.
Less experienced members of staff should not be allowed to place orders unchecked, given that they may not understand how orders are formatted.
The reverse of this situation is also concerning, as if your business places an order for too little stock, then you may struggle to meet the demands of your customers.
When they split from your business and find a new bunch of folks ready to give them what they need, it will be more than just your ego that’s bruised.
As with most aspects of running a business, keeping the right levels of stock is a delicate balancing act and it is easy to slip up one way or the other.
This is why continually reviewing your stock levels and supply orders is vital for keeping you competitive.
With global supply chains disrupted, it may also be necessary to reconsider where your orders come from and whether they still offer the best value for money.
Squaring costs around supply and demand with rising operational costs can feel overwhelming for some business owners, but there is no need to go it alone.
Seeking financial guidance from an expert can help you to understand where you may be overspending or underinvesting, with insights letting you better align your stock levels to customer and client demand.
We’re the pick of the bunch when it comes to local accountants in Orkney and are top banana at helping individuals and businesses across Scotland.
We work with your business to get an understanding of the unique situation you are in and the challenges you face.
Rather than give generic advice, we work with you to strengthen your financial position through tax planning, bookkeeping and audits.
