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Showing posts with the label Penny Wise Pound Foolish

How to Be Pound Wise Penny Stupid

Many people today are very wise, wise in pounds and foolish in penny.  Check to see if you do any of the following 7 things.  If the answer is none, call us at 6225-1784 for a chat.  If the answer is yes to the 7 questions, congratulations and please forward this article to your friends.  1.    Build Relationships with Suppliers by Not Squeezing Them .  Penny wise pound foolish Purchasers like to squeeze suppliers.  They often end up with very few choices as few suppliers would like to work with them.  As a result, they buy cheaply but didn't get the best choices in the market. In fact their purchasing cost went up! 2.    Train the Managers and Directors First Before Training the Staff. When things go wrong, the first thing managers do is to send their staff for training. For they feel that if the staff are better trained, there will be fewer problems.  Truth is the managers and directors should be the first people to be trained, because everything sta