It’s important to understand the nature of budgeting inventory using a formula. I have attempted in this article to explain an approach for determining inventory levels that can be used by any business, regardless of its makeup. However, using a goal, such as GMROI to arrive at an inventory budget does not address the myriad [...]
Buyers Intelligence Group (BIG) is pleased to announce a new addition to the BIG team, Ann Arnold as Chief Strategy Officer. Ann will focus on integrating BIG's three powerful industry products, enabling the company to provide a comprehensive, scalable, industry solution that delivers dramatically improved performance to jewelry retailers and manufacturers. Arnold is a 27-year veteran [...]
by Abe Sherman I’m not a big fan of reality television, but there is one show that every business owner should be watching. The Profit, which debuted last fall, stars Marcus Lemonis, a billionaire investor who is called in to save ailing companies. Regardless of the products the company sells, his approach is to make [...]
By Abe Sherman We are excited to launch the new Balance to Buy™ Sales report. The new Sales report is an extremely comprehensive view of your sales data, which you will be able to run Daily, Weekly or Monthly. Clients were asking us to design a sales report that they would receive automatically each day showing [...]
by Abe Sherman There are some exciting new reporting capabilities already available and others that will be available soon in Balance to Buy™. The one that I’ll share today is the Period-to-Period option which was recently added to the Summary Detail Reports. Period reports let you compare productivity over long periods of time, in addition to [...]
By Abe Sherman At first I was going to describe it as a wave. Then I was going to use the image of a Tsunami, a high wall of water moving onshore crushing everything in its path. But “Tsunami” would be a pejorative in this context since there won’t be any destruction, only opportunity: Massive opportunity [...]
By Abe Sherman The discussion at one of our Plexus Performance Group meetings this spring was about the book, The Age Curve, by Kenneth W. Gronbach. The author describes the size of each of the five living generations and the impact each one has had, is having, or will have on the marketplace. Coincidentally, we also [...]
By Abe Sherman Other than circumnavigating closed roads, dodging fallen trees and downed wires and waiting in line for gas, for me this past week has been about waiting on a national election. Watching various news channels as the results came in (yes, our power finally came back on at 3 pm on Election Day!), I [...]
By Abe Sherman Inventory management and control is an economic imperative Your need to deconstruct the components of your business in order to have a deeper understanding of its parts is an imperative. In the stages of deconstruction, you’ll begin to ascertain what elements are vital in the analysis of determining inventory levels…and determining inventory levels [...]
It may be effecting the real estate market in your own area, or not. Housing may or may not be stacking up like the goods on the shelves at Costco, but it’s certainly been consuming the airwaves over the past weeks and it’s starting to show up in stores around the country.
