You have some extra cash. Maybe $100,000. $200,000. Who knows, maybe even $10,000,000.
You have extra cash that was stuck on your shelves before. Redeploy it into your operation.
Here’s where you should start.
Invest in your people
The great thing about selling your surplus is you can reinvest the money into your people.
You know. You. The people who make your operation run smooth.
Invest in them. Or hire more people for other strategic areas.
You have money baby!
Capital is no longer restricted by inventory or unnecessary aircraft parts sitting on the shelf. You’ll need less space and fewer people.
No, no. That doesn’t mean you have to fire anyone. That means you can redeploy their skills into other areas of your operation.
How awesome is that?
Invest in your processes
A successful airline operation is a sequence of processes joined together to get passengers safely from point A to point B.
It’s the lean way of thinking.
With excess inventory, you had people and money tied up in inventory. Now, you can redeploy those assets to refine your processes.
Here are some ideas:
- Update your overnight check process and how you stock routine items.
- Refine your sourcing, processing, and chasing of aircraft material.
- Reduce AOG occurrences through forecasting high consumption items.
- Outsource your high consumption items.
- Update your processes of before, during and after your aircraft goes into maintenance.
- Spend extra man-hours evaluating your supply chain.
The ideas are limitless. Think of a process that needs improvement and reply some of your new assets to make it more efficient.
Expand and update your operation
It’s not for everybody.
But maybe your operation's goals is to go into new territories. To do new things.
If that’s the case, you sold some of your surpluses and have extra resources to begin those endeavors.
Or maybe you just need to update some of your tooling, need new computers, or your bird needs a new paint job.
Whatever it is, you have extra cash, so invest in new things. Or change existing ones.
It’s your choice. Invest wisely.