Improve Your Inventory Performance & Sales Key Productivity Indicators
||Independent Garden Center Show
||Aug 22, 2013
Workshop for the 2013 IGC Know2Grow Retail Conference in Chicago, IL.
What gets measured gets changed. In this session, you will learn about the most important Key Productivity Indicators (KPI). We’ll start with Gross Margin Return On Inventory Investment (GMROII), looking at how to use it to improve your customer service, space allocation and negotiation ability with suppliers. Find out how to calculate Inventory Turnover using the retail method, as well as Stock-to-Sales Ratios, Maintained Margin, Average Transaction, Units Per Transaction, Conversion Rate, Sales Per Square Foot, Selling Cost Percentage, Sales and GP Per Employee and Staff-To-Customer Ratios.
Take home formulas for each KPI, as well as benchmarks on what makes for good and superior performance.
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