#-164 – “We Lose $1,000s Every Day”: The Simple Fix to Streamline Your Accounts

Implement a strict Purchase Order (PO) system to track every purchase, ensuring accountability and tying costs directly to jobs.

Centralize purchasing authority to a very limited number of individuals, cutting off direct buying access for field technicians to reduce overspending.

Negotiate with vendors to adhere to your specific PO system and authorized buyer list; refuse payment for invoices that don't comply.

Minimize on-hand truck stock by implementing 'packout' systems (pre-assembled kits for common jobs) and a mobile 'A/B bin' system to keep inventory lean and prevent accumulating unused parts.

Consider using smaller, more fuel-efficient vehicles (like Mavericks) for service technicians to reduce fleet costs and encourage less on-truck inventory.

Consolidate vendors to a few key partners to gain better negotiation leverage, simplify invoicing, and streamline supply chain management.

Enforce an approval process for all spending, even small amounts, by using systems like 'assignable purchasing' where funds must be requested and approved before a credit card can be used.