Understanding the Vending Industry

The need to understand change in the vending industry may seem obvious. However, companies misinterpret clues and arrive at faulty conclusions all the time. Despite all the talk about the need for organizational agility, a surprising number of businesses stay stuck in neutral when they need to execute new strategies. If you stay in place, the competition will easily run over you.

The market place for vending is experiencing more change than others. Today’s economic conditions and fierce competition have resulted in an environment that is noticeably different from that experienced in the past decades. The vending industry has really advanced greatly since it was founded back in 1936.
It is important that your Planet Antares vending business is aligned with the changes taking place in the industry. For this to work, you will need a strategy. In order to survive, you will have to make money at your smaller accounts, achieve higher per capita sales, open new markets, introduce new products, utilize technology, sell new locations and most importantly, you must hold on to your existing Planet Antares vending business.

Cutting costs
When you want to improve the efficiency of your Planet Antares vending business, you can look at cutting down on your costs. But this is a one trick pony. When revenue drops again, another round of cost cutting would have to be implemented, and then another, until you wake up one morning and find out the organization has been crippled. In theory, there is no need to cut costs if good expense management is practiced on an ongoing basis. This is why financial management is very important to both small and large vending businesses.
For your Planet Antares vending business to operate successfully, you will need to have strong controls and preventive measures in place. Smaller businesses are more vulnerable because they typically lack the secondary controls and procedures.

Vending software
Software has given vending operators, the opportunity for more control over route warehouse inventory than ever before. This is an opportunity that can be easily lost when collection procedures are not followed and cash meters are recorded inconsistently.
All vending operations need a culture of excellence that incorporates cost controls. This is required because the market place is changing for the vending industry. The business has changed and that means that you should move with the current as well.