Replacements, Ltd.:Replacing The Irreplaceable

Bob Page worked as an auditor and hated it. As a hobby, he started visiting flea markets and collecting china. Friends asked him to look for replacement pieces for them. By 1980, Bob had revenues of $53,000 from his hobby and decided to quit his job to start Replacements, Ltd. By 1997, Bob's hobby had grown into a business with almost $60 million in revenue and 500 employees. Bob was proud that he had been successful without a business plan, …

…market - Outsourcing certain functional areas of the business Threats: - Entrance of similar businesses especially from foreign countries - Consumer trends change and collections of china, crystal etc become less important to future generations - Loss of customers due to lower inventory on hand - High turnover rates Recommended actions to improve performance - Reduce inventory - Implement real-time inventory purchasing procedures - Continue superior customer service and satisfaction - International warehouses and showrooms