Sam Walton opened his first Walmart store on July 2, 1962, and within 5 years he owned 24 stores. The rest is history! The company now employs 2.2 million people and serves about 245 million customers each week. That’s about ten times the population of Australia. The culture of the company was built on the …
The best technology tools make your job as a Sales Analyst easier and more productive. We’ve put together some tools that will help transform your workflow for the better. These tools assist you in managing tasks and time, communicating and collaborating with colleagues, and making efficient sales and inventory decisions. Wunderlist Wunderlist is an app …
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There are 3 absolute measures we can use when managing inventory, of which retail value is one. Whilst most retailers I’ve interacted with to date manage inventory in a buying department using cost value, there are quite a few that use retail value instead.
Written by John Pitman, CEO of Krunchbox March 16th, 2022 A recent article in the Wall Street Journal titled “Caution – Bullwhip Effect Ahead” (June 14, 2021) refers to a well-documented phenomenon that can wreak havoc in supply chains, especially in times of disruption as are being experienced the world over. For those not familiar with the …
We are all becoming ever more aware of the so called “Data Deluge.” Most retailers and wholesalers are not suffering due to lack of data, but rather from an excess of data. But data resides in different systems, often poorly integrated. That is where Business Intelligence software and Business Intelligence tools come in handy. Typically, …
We have addressed the question “What is Business Intelligence Software?” in a related article, so here we will address the question “What are Business Intelligence Tools?” The short answer is that Business Intelligence Tools are used to extract, analyze and report on data in order to support fact based decision making. They allow users to …
An up-and-coming merchandise manager asked me recently regarding the pros and cons of merchandise purchased on Sale or Return (SOR) versus purchased outright. I asked her the reason for the question and it went something like this. She has a supplier who desperately wants their merchandise in her stores but they are invariably stonewalled by …
The department store model in Asia is almost always stores within stores. The department store owners are in effect landlords who provide the space, electricity, POS etc. The suppliers provide and own the stock and usually the fixtures and they always provide the staff. To a lesser degree we see shops within shops in Australia. One of …
Theoretically margin has to end at about 99.9%. At this point suppliers would be charging you $10 for an item that sells at $10,000. Your gross profit would be $9,990 and your markup would be 99,900%. Years ago a margin of 50% (or a markup of 100%) was pretty good on a lot of typical …
Inventory management is an art, not a science, and is a serious challenge for even the best retailers in the world. The permutations of items and stores every week are nigh on impossible to manage without a sophisticated inventory management system. Given that a significant portion of a retailer’s capital is tied up in inventory, …
