Management One’s Post

🛒 Weekly Retail Insight: Optimizing the Count of Products on your Shelf Have you ever wondered what the ideal number of products on grocery shelves should be? While many retailers aim for 15,000 to 30,000 items, we have imported more than 300,000 products for specific retailers at Markt POS. I was blown away when researching a retailer this week:   This retailer operates with 3,400 products on their shelf. They sell through inventory before the payment is due  Their average customer salary is $120,000 They operate on 11% margins They have an In-Store Brand that does over $60 Billion a year 🔍 Guess who? This retailer's story challenges traditional views on inventory size, revealing a direct link between a lower product count and a higher sell-through rate, enhancing vendor leverage.

Demand sensing (aka getting instant access to POS data and whatnot) is nonsensical if store managers don't know their merchandising stock levels, which are very hard to know accurately. When inventory accuracy is low, any optimization turns into fortune-telling. #supplychain #supplychainmanagement #supplychainflashcards

POS: In demand planning, POS typically refers to "Point of Sale." It involves analyzing sales data at the point where a transaction occurs, such as a retail checkout counter. By examining POS data, businesses can make informed decisions about inventory, sales forecasting, and overall demand management. #supply #demandplanning #pointofsales

All too often we don’t go far beyond ringing up sales and seeing what is selling well in our store through our POS System but there is a treasure trove of other actionable data sets in a POS System that can help squeeze out every dime of profit from our business. This session with Hank Yacek & Kaleb Seymour will teach you how to: ➢ Utilize historical sales data to plan on owned inventory volumes for the next 12 months. ➢ Dive into sales data to plan out staffing needs in a more accurate way that will improve productivity and minimize payroll expenses. ➢ Redistributing our inventory assortment based on historical performance to improve margins and turn rates. ➢ Making decisions on what brands to expand and what brands to retire in 2024. ➢ Identifying seasonality in our business to have the right products at the right time. ➢ Optimizing your marketing budget and COOP dollars based on future needs and past performance of Manufacturer Brands. Register for this Jan. 24 SHOT University session in your SHOT Show account (through registration). #SHOTShow #FFL

In demand planning, POS typically refers to "Point of Sale." It involves analyzing sales data at the point where a transaction occurs, such as a retail checkout counter. By examining POS data, businesses can make informed decisions about inventory, sales forecasting, and overall demand management. #supply #demandplanning #pointofsales

#inventorymanagement Why a POS system with inventory management is important Staying on top of stock control keeps your business healthy in several ways. For example, when you manage your inventory well, you're able to stock up on products that sell. You can ensure that your store carries items that your customers want and need, which leads to more sales and revenue. Similarly, monitoring your inventory movements and trends enables you to quickly figure out what's selling and what isn't. These insights can inform your decisions around pricing and markdowns, so you can protect your profit margins.

#inventorymanagement Why a POS system with inventory management is important Staying on top of stock control keeps your business healthy in several ways. For example, when you manage your inventory well, you're able to stock up on products that sell. You can ensure that your store carries items that your customers want and need, which leads to more sales and revenue. Similarly, monitoring your inventory movements and trends enables you to quickly figure out what's selling and what isn't. These insights can inform your decisions around pricing and markdowns, so you can protect your profit margins.

Guiding Principles for In-store Execution Excellence Very recently I shared my thoughts on #pointofsale drivers. This post is a continuation of that. While implementing #4ps as #POS drivers, follow the attached guiding principles. This simple chart will help you as a ready reckoner just to identify the gaps of customized execution of 4Ps based on the #retail store's #shopperinsights. Once you implement POS drivers based on the following guidelines, chances of missing out is the least. Stay tuned with www.boilingpoint212.com and... Happy selling😊

Virtual simulations allow shopper marketers to continuously present the optimal shopping experience and drive purchasing decisions. Ipsos' Brendan Light explains how it can be used for decision tree insight, planogram testing, POS optimization, and more. Read: Retail Today Q1 2024 Executive Roundtable | Page 20 https://lnkd.in/g3E2NugF https://lnkd.in/gXRKiUst Retail Today

Download Aptos' whitepaper to gain insights on building a customer-obsessed POS strategy that enhances customer experiences, streamlines operations and boosts business profitability.