We have all had an employee who never really moved very quickly or worked will less enthusiasm than was required. For a while, we kept paying that slow person the same amounts as the faster ones. Finally, we got rid of the slower employee. We could not afford to keep them. To run a business we must pay the most efficient employees to do the best job they can. None of this is new. This is basic employee management.
But, if we were pretend our inventory was shelves and shelves of employees that we paid for, would it change the way we manage our inventory? Probably so.
The smartest thing to do would be to find revenue producing jobs for each piece of inventory. Especially for those pieces of inventory that have a tendency to not go out as much. Equally important would be to discover some way to rent each piece as often as possible.
Renting each piece as often as possible is important! How quickly can you get your inventory to the jobsite, get it set up, allow it to collect your revenue, take it down, clean it and return it to the shelf? The faster you can make this process happen, the more money you will make. Think of it like juggling hot rocks. You don’t want that hot rock sitting in your hand too long, and you know it will come back quickly. Any good juggler masters this process.
You can be a good juggler. Get it out. Get it back. Make this quick so you can do it all over again. After all- if you had shelves and shelves of employees that you paid for, wouldn’t you like to see them all out on a jobsite producing revenue as much as possible? Wouldn’t you find the best systems to get them out to the job and back again? Wouldn’t you buy the best machines to ensure they get the job done quickly?
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