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How to Turn Costs into Profits

Posted by Kimball Midwest on November 17, 2017

Tags: MRO, How To, Repair

Small, consumable parts don’t cost very much, and they’re hardly worth worrying about, right? Not so fast. Those small parts quickly add up, typically as much as $15 - $20 per transaction. Over time, that’s hundreds or even thousands of dollars per month leaking from your bottom line.

But there is a potential solution you may not have considered: a cost recovery program. It’s a system that allows you to charge for individual parts, such as nuts, bolts, butt connectors, and even partial cans of chemicals. Some programs, like Kimball Midwest’s True Partners, will even allow you to add a markup to parts, so that you can turn a profit on them.

If your company does repairs, whether it’s for cars, farm equipment, machinery, or virtually anything else, you may benefit from a cost recovery program.

Shops that deal with insurance companies will benefit from this type of system because it provides proof of the consumable parts' costs on invoices. Invoicing is made easy by cost recovery programs because all the charges are together on one receipt, including ordered parts and labor.

If you are interested in learning more about how a cost recovery program can benefit your business, and turn costs into profits, contact a Kimball Midwest Representative in your area. Our web-based True Partners program is simple to set up and easy to use thanks to wireless scanner capabilities. It’s a simple change that can make a world of difference in your business.
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