Sunday, September 13, 2009

Saving Money with a Thousand Little Cuts.

Company size isn’t important when it comes to saving money in little ways. Here are five practical ways to watch those workplace pennies:

1. Reduce delivery fees.
Many office-supply companies now charge delivery fees if your order falls below a certain dollar mark. Is there a way to combine orders to cut back delivery fees? Could you suggest a new internal process for ordering?

2. Cut overnight shipping. How often are packages sent via overnight delivery when they could just as easily go second-day or ground at a fraction of the cost? Is your company using multiple overnight shipping companies and missing out on volume discounts?

Consider creating a simple checklist for senders to review before splurging on overnight delivery.

3. Look for group discounts.
Do any of your industry associations offer group-purchasing discounts?

4. Turn off the lights.
Even small green steps can yield big savings. Ideas: Motion sensors in the restrooms, programmable thermostats, an end-of-day-shutdown policy for computers, more-efficient light bulbs, and selling used corrugated packaging to recyclers.

Tip: Ask your electric company for an energy audit for more recommendations.

5. Consolidate your suppliers.
You may be in the habit of purchasing certain items from each supplier. But consolidating purchases can put you in a better position to negotiate price through higher volume.

Start watching the pennies, and you’ll soon see the dollars add up.

— Adapted from “Mine small expense categories for big cost savings,” Tom Rogers, Washington Business Journal.


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