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Retail Gross Profit Recovery

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This presentation discusses profit recovery for retailers. Profit recovery includes improving shrink along the entire enterprise and supply inventory loss, damages, shipping errors, credit/debit card …

This presentation discusses profit recovery for retailers. Profit recovery includes improving shrink along the entire enterprise and supply inventory loss, damages, shipping errors, credit/debit card loss, coupon abuse, other store discounting, etc.
http://flevy.com/browse/business-document/Retail-Gross-Profit-Recovery-88

Published in: Business, Technology

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  • 1. Retail Gross Profit Recovery
  • 2. 4 Point of Sale (POS) Transaction Monitoring Frequency of Transactions Size of Transactions Internal POS spreadsheets and other less robust tools Greedy HarvestingTrial Thefts Highest Risk Area – lots of transactions virtually unmonitored Sophisticated tools such as SAP Fraud Watch and Datavantage Enhanced tools with robust KPIs used by clients Organizations need to move the point of discovery back down the fraud cycle Fraud activity at an organization is basically distributed on a normal curve with a common zone of the most frequent transaction size This document is a partial preview. Full document download can be found on Flevy: http://flevy.com/browse/document/retail-gross-profit-recovery-88
  • 3. 7 Pricing Optimization Manages Pricing Through the Entire Lifecycle Shelf Price Promote Shelf Price Markdown Shelf Price Promote Shelf Price Markdown INTRODUCTION What’s the right introductory price? Do I need to grow market share? Should I couple that with other incentives? Are we opening new stores as well? DECLINE What’s causing the decline? Should we fight it? How do we flush the inventory? MATURITY Demand is flattening, what now? Why am I promoting products? Should I reduce price, or just advertise? Is the product performing as I expected? SUPERSESSION Will new intros cannibalize the category? Should we rationalize a category? Can we get more for less? Is the product performing as I expected? This document is a partial preview. Full document download can be found on Flevy: http://flevy.com/browse/document/retail-gross-profit-recovery-88
  • 4. 10 Assortment can manage the consumer choice journey The end to end customer centric assortment process utilizes attribute-based insights to deliver strategic consumer targeted assortment and space The result: Increased traffic, transactions and profit. The benefit: Long term shareholder value. The result: Increased traffic, transactions and profit. The benefit: Long term shareholder value. Who are my customers? What makes them buy? Where do they live ? Assortment Offerings What assortment meets their needs? Macro Space What is the optimum department/ category space? Brand Flavor Size Count Packtype Container Top Consumer Segments Clustering Behavior Insights This document is a partial preview. Full document download can be found on Flevy: http://flevy.com/browse/document/retail-gross-profit-recovery-88
  • 5. 13 Our Point of View of Workforce Management We understand the components of Workforce Management that will enable Cost Plus World Market to begin the store operations optimized scheduling journey Workforce Optimization Business Intelligence KPIs, Dashboards Task Management Compliance Workforce Analysis Best Practices Standard Operating Procedures Workload Development Labor Standards, Labor Drivers, AttributesLabor Budgeting Bottom Up, Top Down Analysis Labor Scheduling & Time and Attendance This document is a partial preview. Full document download can be found on Flevy: http://flevy.com/browse/document/retail-gross-profit-recovery-88
  • 6. 16 Workforce Management Components – Labor Scheduling Leading Practices Proper allocation of resources Improvement in the allocation of hours based on forecasts and standards Proper assignment of shifts • Based on needs of the business unit • Skills and availability of the employee • Consideration of work rules Benefits Reduction of overtime, over scheduling and sweet heart scheduling Improvement in customer service Implement easy to use planning tools Traffic Pattern Actual Scheduled Workforce Optimization Business Intelligence KPIs, Dashboards Task Management Compliance Workforce Analysis Best Practices Standard Operating Procedures Workload Development Labor Standards, Labor Drivers, Attributes Labor Budgeting Bottom Up, Top Down Analysis Labor Scheduling & Time and Attendance This document is a partial preview. Full document download can be found on Flevy: http://flevy.com/browse/document/retail-gross-profit-recovery-88
  • 7. 1 Flevy (www.flevy.com) is the marketplace for premium documents. These documents can range from Business Frameworks to Financial Models to PowerPoint Templates. Flevy was founded under the principle that companies waste a lot of time and money recreating the same foundational business documents. Our vision is for Flevy to become a comprehensive knowledge base of business documents. All organizations, from startups to large enterprises, can use Flevy— whether it's to jumpstart projects, to find reference or comparison materials, or just to learn. Contact Us Please contact us with any questions you may have about our company. • General Inquiries support@flevy.com • Media/PR press@flevy.com • Billing billing@flevy.com