Allocate Your Available Time AppropriatelyDate: 11/01/2018
We all have limited time, especially if our workload is more than we can handle or more than we would like. Therefore, it is essential to use your time wisely - to manage it in order to do the most important things first without completely ignoring the less important tasks.
The most important things are emergencies that need immediate attention to avoid disasters. This could include an out of stock condition that will lose a valuable customer. Filling a request for a personal item for your boss may or may not be considered an emergency. It may be wise to work on the critical need first rather than on the request from your boss when he is likely to understand the reasonableness of your decision.
Next, time should be used to handle current everyday requirements, especially the need for essential material or supplies to maintain the business. Items with short lead times need to be handled promptly, followed by those with longer lead times.
Time must be used to complete paperwork, such as contracts or purchase orders, and reports.
In an efficient purchasing operation, time must be available for shopping and negotiating with suppliers. It is an indication of an insufficient staff when there is no time available to perform these important functions.
Decisions must be made on which items to shop and negotiate for when there is available time. Such decisions should be based on the potential for cost savings. Those items that account for the largest expenditures and highest volume should take precedence over those with less financial impact. However, categories of low cost items may represent large expenditures and offer large potential savings.