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I’ve spent quite a few years in the world of “markdown optimization” helping retailers implement solutions that determine the “optimal” price point that would give a sales lift while maximizing gross margins. From a store ops perspective taking markdowns too … Continue reading
Tag Archives: Data
Butchering Profits
Within any grocer, the meat department tends to have high margins, while at the same time experiencing high losses relative to other departments. This is due to the nature of the product, being highly sensitive and perishable, therefore spoilage and … Continue reading
Big Data – Insights to a Competitive Advantage
It is commonly thought that data is the foundation of information, and information is knowledge. Yet to gain true insight, large quantities of data may be needed. Today, big data is a term increasingly being used to describe the massive … Continue reading
Excellence in the Ordinary – Part 2: Growing Revenue
In previous blogs (see Inventory Distortion – Part 1 & 2) we have discussed the advantages that can be gained from reducing inventory distortion, ensuring the right product is on the shelf at the right time; when the customer wants … Continue reading
Inventory Distortion – Part 2: Overstock: How much is too much?
Inventory distortion is an issue that can be analyzed and attacked from many different angles. It can develop from a number of sources, including distortions at the vendor level, or non-compliance and process failures at the POS. Attempting to ensure … Continue reading
Inventory Distortion – Part 1: Increase Revenue Quickly by Minimizing Inventory Distortion
Manufacturers and retailers have been scrutinizing the ongoing out-of-stock (OOS) problem for years. As we know, this OOS dilemma is hurting revenue growth for both the retailers and manufacturers involved. The average 8% to 10% OOS, which soars to around … Continue reading
Amplify Profits by Doing More With What You Have
In the past 16 years I have spoken with a variety of leading retailers. Some had good data, others great processes, some with well organized teams, all with various operational efficiency. In their own way, each of these retailers are … Continue reading
Retail Grocery in 2012 and Beyond
The traditional ways of looking at retail profitability considers customer purchasing behaviors as well as product costs, costs to serve the customers, operational expenses and other such factors. Grocers profitability is affected even more by secondary factors, typically related to … Continue reading
The Fallacy of Same Store Sales
Today, Wall Street investors use same store sales as an indicator of the viability and investment potential of a retailer. By analyzing how well existing stores perform during a particular month or quarter compared to that same time period in … Continue reading
Build versus buy: approaching an age old question
You’ve probably heard the 80/20 rule applied to the build versus buy decision: “If you can get 80% of the functionality you need from a packaged solution, then buy it. Otherwise, build it.” At least two decades ago, if not … Continue reading