SloppySuccess

Rate of sale

Wed, 28 Apr 2021 02:55:11 +0000

Rate of sale is not a metric that is widely used. It is a metric that comes in handy when looking for another way to confirm results or make decisions.

This Nanocast™ talks about using rate of sale and looks at a few of it’s advantages.

If you like these Nanocasts™ subscribe to be notified when a new episode is published and don’t forget to share with others.

Terminology

NMR = Nano and Micro Retailer - listen to this podcast to find out more about NMRs.

Merchandise Planner - Listen here to find out what merchandise planning is.

Book

The fundamentals of planning - a book on merchandise planning aimed at those wanting to understand what it is and how it fits into an organisation. Available to order on Amazon and in bookstores.

What happens during and after a stocktake?

Wed, 21 Apr 2021 02:55:14 +0000

We all know how to count, yet 2 people can count the same item and come up with 2 different figures. When this happens during a stocktake, do you know what to do?

This Nanocast™ talks about what happens during and after a stocktake is done.

If you like these Nanocasts™ subscribe to be notified when a new episode is published and don’t forget to share with others.

Terminology

NMR = Nano and Micro Retailer - listen to this podcast to find out more about NMRs.

Merchandise Planner - Listen here to find out what merchandise planning is.

Book

The fundamentals of planning - a book on merchandise planning aimed at those wanting to understand what it is and how it fits into an organisation. Available to order on Amazon and in bookstores.

Preparing for a stocktake

Wed, 14 Apr 2021 02:55:22 +0000

Carrying out a stocktake is not a simple task and it takes a lot of preparation to make it happen. This Nanocast™ lists a few of the main tasks to do before the counting begins.

If you like these Nanocasts™ subscribe to be notified when a new episode is published and don’t forget to share with others.

Terminology

NMR = Nano and Micro Retailer - listen to this podcast to find out more about NMRs.

Merchandise Planner - Listen here to find out what merchandise planning is.

Book

The fundamentals of planning - a book on merchandise planning aimed at those wanting to understand what it is and how it fits into an organisation. Available to order on Amazon and in bookstores.

What is a stocktake?

Wed, 07 Apr 2021 02:55:05 +0000

The biggest asset of retailers is inventory. This Nanocast™ is about stocktakes and what it is as knowing how much inventory you have available is a very important part of running a retail business.

If you like these Nanocasts™ subscribe to be notified when a new episode is published and don’t forget to share with others.

Terminology

NMR = Nano and Micro Retailer - listen to this podcast to find out more about NMRs.

Merchandise Planner - Listen here to find out what merchandise planning is.

Book

The fundamentals of planning - a book on merchandise planning aimed at those wanting to understand what it is and how it fits into an organisation. Available to order on Amazon and in bookstores.

Sales to stock calculation

Wed, 31 Mar 2021 01:55:17 +0000

There are times when additional ways to look at sales performance is needed. This Nanocast™ is about a calculation I use infrequently to give me a view of performance from a different perspective.

If you like these Nanocasts™ subscribe to be notified when a new episode is published and don’t forget to share with others.

Terminology

NMR = Nano and Micro Retailer - listen to this podcast to find out more about NMRs.

Merchandise Planner - Listen here to find out what merchandise planning is.

Book

The fundamentals of planning - a book on merchandise planning aimed at those wanting to understand what it is and how it fits into an organisation. Available to order on Amazon and in bookstores.

Profit or market share? Which to focus on first!

Wed, 24 Mar 2021 01:55:12 +0000

There is a chicken and egg type conundrum NMRs - nano and micro retailers - face and that is whether to focus on profit or market share first.This Nanocast™ looks gives a couple of pros and cons for each to aid in your decision making.

If you like these Nanocasts™ subscribe to be notified when a new episode is published and don’t forget to share with others.

Terminology

NMR = Nano and Micro Retailer - listen to this podcast to find out more about NMRs.

Merchandise Planner - Listen here to find out what merchandise planning is.

Book

The fundamentals of planning - a book on merchandise planning aimed at those wanting to understand what it is and how it fits into an organisation. Available to order on Amazon and in bookstores.

What determines market share?

Wed, 17 Mar 2021 01:55:38 +0000

Of all the different methods that can be used to determine a retailers market share, which is the one that matters most. This Nanocast™ looks at a perceived and the actual method used to determine market share.

If you like these Nanocasts™ subscribe to be notified when a new episode is published and don’t forget to share with others.

Terminology

NMR = Nano and Micro Retailer - listen to this podcast to find out more about NMRs.

Merchandise Planner - Listen here to find out what merchandise planning is.

Book

The fundamentals of planning - a book on merchandise planning aimed at those wanting to understand what it is and how it fits into an organisation. Available to order on Amazon and in bookstores.

Planning with unreliable data

Wed, 10 Mar 2021 01:55:14 +0000

Using the previous years history to predict future sales and inventory need is the bedrock of any form of planning. What happens when the previous year's history isn’t reliable enough to be used? That is something I talk about in this Nanocast™.

If you like these Nanocasts™ subscribe to be notified when a new episode is published and don’t forget to share with others.

Terminology

NMR = Nano and Micro Retailer - listen to this podcast to find out more about NMRs.

Merchandise Planner - Listen here to find out what merchandise planning is.

Book

The fundamentals of planning - a book on merchandise planning aimed at those wanting to understand what it is and how it fits into an organisation. Available to order on Amazon and in bookstores.

Sell through part deux!

Wed, 03 Mar 2021 01:55:10 +0000

Highly seasonal products have a limited selling window. Having a plan in place before starting to sell these items is a way to not get left with large quantities of out of season products. This Nanacast™ talks about sell through and it’s benefits.

If you like these Nanocasts™ subscribe to be notified when a new episode is published and don’t forget to share with others.

Terminology

NMR = Nano and Micro Retailer - listen to this podcast to find out more about NMRs.

Merchandise Planner - Listen here to find out what merchandise planning is.

Retated Nanosode™

Listen to an earlier Nanosode™ on Sell through

Book

The fundamentals of planning - a book on merchandise planning aimed at those wanting to understand what it is and how it fits into an organisation. Available to order on Amazon and in bookstores.

Inventory carrying cost

Wed, 24 Feb 2021 01:55:16 +0000

Buy low sell high is what retail is about. Sometimes buying low can end up costing you more than expected. This Nanocast™ asks a few questions to get you thinking about if it’s really worthwhile buying more inventory than you need right now just because it is heavily discounted.

If you like these Nanocasts™ please subscribe to be notified when a new episode is published and share with others you know would like them.

Terminology

NMR = Nano and Micro Retailer - listen to this podcast to find out more about NMRs.

Merchandise Planner - Listen here to find out what merchandise planning is.

Book

The fundamentals of planning - a book on merchandise planning aimed at those wanting to understand what it is and how it fits into an organisation. Available to order on Amazon and in bookstores.

Inventory metrics to track

Wed, 17 Feb 2021 01:55:15 +0000

Being able to capitalise on assets is one of the things that helps make a profit. In retail, inventory is the main asset used to make a profit. Being able to keep an eye on it is essential and there are a few simple metrics to use to do this, 3 of which are mentioned in this Nanacast™

If you like these Nanocasts™ please subscribe to be notified when a new episode is published and share with others you know would like them.

Terminology

NMR = Nano and Micro Retailer - listen to this podcast to find out more about NMRs.

Merchandise Planner - Listen here to find out what merchandise planning is.

Book

The fundamentals of planning - a book on merchandise planning aimed at those wanting to understand what it is and how it fits into an organisation. Available to order on Amazon and in bookstores.

Selling price changes

Wed, 10 Feb 2021 01:55:19 +0000

There are reasons that a selling price might be changed. This Nanocast™ lists a few of these reasons and also gives 3 questions to ask before embarking on any change in a selling price.

If you like these Nanocasts™ please subscribe to be notified when a new episode is published and share with others you know would like them.

Terminology

NMR = Nano and Micro Retailer - listen to this podcast to find out more about NMRs.

Merchandise Planner - Listen here to find out what merchandise planning is.

Book

The fundamentals of planning - a book on merchandise planning aimed at those wanting to understand what it is and how it fits into an organisation. Available to order on Amazon and in bookstores.

Managing inventory in units

Wed, 03 Feb 2021 01:55:16 +0000

Valuing inventory in units isn’t for everyone, yet there are those that see it as essential to value inventory in units before giving it a monetary value.

If you like these Nanocasts™ please subscribe to be notified when a new episode is published and share with others you know would like them.

Terminology

NMR = Nano and Micro Retailer - listen to this podcast to find out more about NMRs.

Merchandise Planner - Listen here to find out what merchandise planning is.

Book

The fundamentals of planning - a book on merchandise planning aimed at those wanting to understand what it is and how it fits into an organisation. Available to order on Amazon and in bookstores.

Managing inventory at retail

Wed, 27 Jan 2021 01:55:20 +0000

Everyone has a preferred way to value inventory and valuing it at retail is one of them. This Nanocast™ looks at managing inventory at retail.

If you like these Nanocasts™ please subscribe to be notified when a new episode is published and share with others you know would like them.

Terminology

NMR = Nano and Micro Retailer - listen to this podcast to find out more about NMRs.

Merchandise Planner - Listen here to find out what merchandise planning is.

Book

The fundamentals of planning - a book on merchandise planning aimed at those wanting to understand what it is and how it fits into an organisation. Available to order on Amazon and in bookstores.

Managing inventory at cost

Wed, 20 Jan 2021 01:55:11 +0000

Everyone has a preferred way to value inventory and mine is at cost. This Nanocast™ looks at managing inventory at cost.

If you like these Nanocasts™ please subscribe to be notified when a new episode is published and share with others you know would like them.

Terminology

NMR = Nano and Micro Retailer - listen to this podcast to find out more about NMRs.

Merchandise Planner - Listen here to find out what merchandise planning is.

Book

The fundamentals of planning - a book on merchandise planning aimed at those wanting to understand what it is and how it fits into an organisation. Available to order on Amazon and in bookstores.

Retail sales

Wed, 13 Jan 2021 01:55:10 +0000

This Nanocast™ talks about the basics of retail sales.

If you like these Nanocasts™ please subscribe to be notified when a new episode is published and share with others you know would like them.

Terminology

NMR = Nano and Micro Retailer - listen to this podcast to find out more about NMRs.

Merchandise Planner - Listen here to find out what merchandise planning is.

Book

The fundamentals of planning - a book on merchandise planning aimed at those wanting to understand what it is and how it fits into an organisation. Available to order on Amazon and in bookstores.

Product sales ranking - which metric is best?

Wed, 06 Jan 2021 01:55:16 +0000

Description

There are different ways to determine which product is a best seller and which isn’t.

This Nanocast™ talks about which metric is best to use to determine which product is a best selling product.

If you like these Nanocasts™ please subscribe to be notified when a new episode is published and share with others you know would like them.

Terminology

NMR = Nano and Micro Retailer - listen to this podcast to find out more about NMRs.

Merchandise Planner - Listen here to find out what merchandise planning is.

Book

The fundamentals of planning - a book on merchandise planning aimed at those wanting to understand what it is and how it fits into an organisation. Available to order on Amazon and in bookstores.

Markdowns

Wed, 30 Dec 2020 02:08:54 +0000

Consumers like it, retailers would rather not do it.

Reducing items at certain times of the year has been done since the early 20th century. The reasons for taking markdowns may have changed over time, however the feeling it gives retailers and consumers hasn’t.

This Nanocast™ talks about markdowns and gives 3 reasons why items are marked down in price.

If you like these Nanocasts™ please subscribe to be notified when a new episode is published and share with others you know would like them.

Terminology

NMR = Nano and Micro Retailer - listen to this podcast to find out more about NMRs.

Merchandise Planner - Listen here to find out what merchandise planning is.

Book

The fundamentals of planning - a book on merchandise planning aimed at those wanting to understand what it is and how it fits into an organisation. Available to order on Amazon and in bookstores.

Data Warehouse

Wed, 23 Dec 2020 01:55:17 +0000

A data warehouse is a place to store data. With the huge amounts of information we store, data warehouses facilitate the ease at which we can recall the data we need in very little time.

This Nanocast™ talks very briefly about data warehousing and gives an example of how it’s used in retail.

Terminology

NMR = Nano and Micro Retailer - listen to this podcast to find out more about NMRs.

Merchandise Planner - Listen here to find out what merchandise planning is.

Book

The fundamentals of planning - a book on merchandise planning aimed at those wanting to understand what it is and how it fits into an organisation. Available to order on Amazon and in bookstores.

Augmented reality

Wed, 16 Dec 2020 01:55:12 +0000

Is going into a store to physically going into a store to look, touch and feel items before buying going to go away?

Maybe, then again maybe not.

This Nanocast™ looks talks about augmented reality and gives 3 instances in which AR can be used effectively whilst shopping.

NMR = Nano and Micro Retailer - listen to this podcast to find out more about NMRs.

Merchandise Planner - Listen here to find out what merchandise planning is.

Using returned products

Wed, 09 Dec 2020 01:57:51 +0000

Offering your consumers the ability to return products because they’ve changed their minds is a great policy. Knowing what to do with products that have been returned and can no longer be sold as new is something all retailers need to tackle.

This Nanocast™ 32 looks at 3 things that can be done with returned products that can’t be put back onto the shelf to resell as brand new.

Terminology

NMR = Nano and Micro Retailer - listen to this podcast to find out more about NMRs.

Merchandise Planner - Listen here to find out what merchandise planning is.

The power of 3!

Wed, 02 Dec 2020 01:55:15 +0000

Description

More isn’t always best and when it comes to trying to decide which option to choose as a consumer, too many options leads to deferring the purchasing decision.

This Nanocast™ talks about how offering 3 choices is the best.

Terminology

NMR = Nano and Micro Retailer - listen to this podcast to find out more about NMRs.

Merchandise Planner - Listen here to find out what merchandise planning is.

Weeks on hand vs weeks of supply. What is the difference?

Wed, 25 Nov 2020 01:55:16 +0000

Weeks on hand and weeks of supply. It’s the same but different.

This Nanocast™ will inform you on what the difference is.

Terminology

NMR = Nano and Micro Retailer - listen to this podcast to find out more about NMRs.

Merchandise Planner - Listen here to find out what merchandise planning is.

A book on merchandise planning

Wed, 18 Nov 2020 01:55:15 +0000

Merchandise planning is not as well known a function as buying and it is a function that is often misunderstood.

This Nanocast™ looks at the blurb on the back of a book written for those who want to know more about merchandise planning.

Buy the book

Terminology

NMR = Nano and Micro Retailer - listen to this podcast to find out more about NMRs.

Merchandise Planner - Listen here to find out what merchandise planning is.

Lost sales

Wed, 11 Nov 2020 01:55:09 +0000

Knowing you could have sold something if you had it is not a nice feeling, particularly if it is something you usually had available to sell.

This Nanocast™ gives a brief explanation of what lost sales is, how it can happen, 2 ways to measure lost sales and the effect lost sales has on a retail business.

That is a lot of information packed into less than two and a half minutes.

Terminology

NMR = Nano and Micro Retailer - listen to this podcast to find out more about NMRs.

Merchandise Planner - Listen here to find out what merchandise planning is.

Options (I'm not talking about the Stockmarket)

Wed, 04 Nov 2020 01:55:20 +0000

Choice is always a good thing and that is why we have options.

This Nanocast™ gives a brief explanation through the use of an example of what an option is.

Terminology

NMR = Nano and Micro Retailer - listen to this podcast to find out more about NMRs.

Merchandise Planner - Listen here to find out what merchandise planning is.

A little about tax

Wed, 28 Oct 2020 01:55:06 +0000

Like it or loathe it, tax, specifically goods and services tax, is something that should be understood as a NMR - Nano and Micro Retailer.

Understanding goods and services tax allows you to price your products in a way that allows you to charge the customer the tax and you as a business owner can also benefit by claiming back the tax portion of purchases you make.

This Nanocast™ gives general information about tax. To get more information, speak to your accountant who is better positioned to give information specific to your situation.

Terminology

NMR = Nano and Micro Retailer - listen to this podcast to find out more about NMRs.

Merchandise Planner - Listen here to find out what merchandise planning is.

Margin explanation

Wed, 21 Oct 2020 01:55:10 +0000

What margin do you make?

All retailers should know what margins - both margin rate and margin value - they make from the products they sell.

Do you know what your margin is?

Terminology

NMR = Nano and Micro Retailer - listen to this podcast to find out more about NMRs.

Merchandise Planner - Listen here to find out what merchandise planning is.

Inventory!

Wed, 14 Oct 2020 01:55:14 +0000

The title of this Nanocast™ either fills you with glee or trepidation.

People have a love hate relationship with inventory. Inventory is loved when it flies out the door, however when it sticks around and doesn’t move, it’s disliked.

This Nanocast™ defines what inventory is and shares a few things about inventory.

Terminology

NMR = Nano and Micro Retailer - listen to this podcast to find out more about NMRs.

Merchandise Planner - Listen here to find out what merchandise planning is.

Get more cash in a Nano and Micro Retail business

Wed, 07 Oct 2020 01:55:11 +0000

Having cash to spend when you need it is what all retailers strive for. Yet sometimes, the more that is sold, the less cash is available.

Why is that?

No matter the reason, having cash available when needed keeps a retail business going.

This Nanocast™ for nano and micro retailers (NMRs) gives ways in which cash can be freed up.

Terminology

NMR = Nano and Micro Retailer - listen to this podcast to find out more about NMRs.

Merchandise Planner - Listen here to find out what merchandise planning is.

The retail balance sheet

Wed, 30 Sep 2020 02:55:15 +0000

There are a lot of numbers to keep track of in any sized retail business - including nano and micro retailers - and all numbers seem to relate to each other. Some numbers are used and looked at on a daily basis and others on a less frequent basis. The balance sheet contains numbers that are looked at less frequently and yet, it needs to be as upto date as possible. This Nanocast™explains what a balance sheet is and what is in it.

Terminology

NMR = Nano and Micro Retailer - listen to this podcast to find out more about NMRs.

Merchandise Planner - Listen here to find out what merchandise planning is.

What is a product?

Wed, 23 Sep 2020 02:55:23 +0000

There are different types of products available to purchase, from the physical ones to the virtual ones to the ones that are intangible.

Terminology

NMR = Nano and Micro Retailer - listen to this podcast to find out more about NMRs.

Merchandise Planner - Listen here to find out what merchandise planning is.

Profit and loss statement

Wed, 16 Sep 2020 02:55:12 +0000

Understanding what a profit and loss statement is makes understanding the overall performance of a business easier. This is why it is important to keep a record of all income and expenditure incurred.

Terminology

NMR = Nano and Micro Retailer - listen to this podcast to find out more about NMRs.

Merchandise Planner - Listen here to find out what merchandise planning is.

Sales revenue

Wed, 09 Sep 2020 02:55:14 +0000

Sales revenue is something everyone who sells products and services looks at. It is one of the first figures we are all programmed to look at.

Terminology

NMR = Nano and Micro Retailer - listen to this podcast to find out more about NMRs.

Merchandise Planner - Listen here to find out what merchandise planning is.

Artificial Intelligence

Wed, 02 Sep 2020 02:55:15 +0000

Artificial intelligence is used in a lot of things we do. In retail it is also used to aid in automating repetitive tasks, collate information and refresh data.

Terminology

AI = Artificial Intelligence

NMR = Nano and Micro Retailer

What is sell through?

Wed, 26 Aug 2020 02:55:08 +0000

Sell through is another way to measure inventory performance.

It can be calculated at different levels of a product hierarchy and provides information to aid in making inventory related decisions.

What is stockturn?

Wed, 19 Aug 2020 02:55:18 +0000

A figure that helps understand the balance between inventory and sales. Also known as inventory turnover and inventory turn, this Nanocast™ episode gives retailers a general idea of what the stockturn figure shows.

Product hierarchy

Wed, 12 Aug 2020 02:55:13 +0000

There are 5 key parts needed to create a product hierarchy. This Nanocast™ episode goes through each need by using an example.

Rolling and fixed budgets

Wed, 05 Aug 2020 02:55:07 +0000

When creating budgets, it is usually done for a locked timeframe. This Nanocast™ gives a simple look at the difference between a rolling and fixed budget. It also gives a few advantages and disadvantages for each one.

What are top and bottom line figures?

Wed, 29 Jul 2020 02:55:11 +0000

Top and tail, head and feet, start and finish, top line and bottom line! These are phrases used to describe opposite ends of the same thing. This Nanocast™ episode explains what is meant when you hear ‘top line’ and ‘bottom line’.

Organising finances aka recording your finances

Wed, 22 Jul 2020 02:44:11 +0000

There are lots of financial numbers to keep on top of and as a nano and micro retailer (NMR) knowing what they are helps keep you organised. This Nanocast™ episode explains how you can record your finances to keep them organised.

Simple income and expenditure recording template

How often should I look at my sales performance?

Wed, 15 Jul 2020 02:55:13 +0000

Hands up if you at some point in time have spent all day constantly refreshing your screen to see your sales increase.

It is a great feeling knowing all your efforts are being rewarded.

After the excitement wears off, you may ask yourself, ‘how often should I be looking at my figures’? Hourly, daily, weekly, monthly, quarterly etc?

This Nanocast™ episode looks at giving you a guideline to use in making this decision.

What is GMROI?

Wed, 08 Jul 2020 02:55:11 +0000

This Nanocast™ asks the question 'what is GMROI?'

Subscribe to SloppySuccess' Nanocast™.

Bringing you retail concepts, terminology and processes explained in a simple way.

Do I need a sales forecast if I have a sales budget?

Wed, 01 Jul 2020 02:55:17 +0000

This Nanocast™ looks to see if a sales forecast is needed if there is already a sales plan aka sales budget in place.

Subscribe to SloppySuccess' Nanocast™.

Bringing you retail concepts, terminology and processes explained in a simple way.

Why have a sales plan?

Wed, 24 Jun 2020 02:55:15 +0000

This Nanocast™ asks the question 'why have a sales plan, aka a sales budget?'

Subscribe to SloppySuccess' Nanocast™.

Bringing you retail concepts, terminology and processes explained in a simple way.

Does the selling price make you money?

Wed, 17 Jun 2020 02:55:16 +0000

This Nanocast™ looks at if it is the selling price or something else that really makes you money in your business.

Subscribe to SloppySuccess' Nanocast™.

Bringing you retail concepts, terminology and processes explained in a simple way.

What are nano and micro retailers?

Wed, 10 Jun 2020 02:55:20 +0000

This Nanocast™ defines what I mean by nano and micro retailers aka NMRs

Subscribe to SloppySuccess' Nanocast™.

Bringing you retail concepts, terminology and processes explained in a simple way.

Should I add time to my selling price?

Wed, 03 Jun 2020 02:55:06 +0000

This Nanocast™ asks if time should be factored into the selling price calculation.

Subscribe to SloppySuccess' Nanocast™.

Bringing you retail concepts, terminology and processes explained in a simple way.

What is included in cost price?

Wed, 27 May 2020 02:55:19 +0000

This Nanocast™ asks the looks at 'what is included in cost price?'

Subscribe to SloppySuccess' Nanocast™.

Bringing you retail concepts, terminology and processes explained in a simple way.

How much should I charge?

Wed, 20 May 2020 02:55:13 +0000

This Nanocast™ asks the answers the question 'how much should I charge?'

Subscribe to SloppySuccess' Nanocast™.

Bringing you retail concepts, terminology and processes explained in a simple way.

Class on calculating a selling price

What is profit?

Wed, 13 May 2020 02:55:14 +0000

This Nanocast™ asks the answers the question 'what is profit?'

Subscribe to SloppySuccess' Nanocast™.

Bringing you retail concepts, terminology and processes explained in a simple way.

What is merchandise planning?

Wed, 06 May 2020 02:55:12 +0000

A simple definition of merchandise planning.

Subscribe to SloppySuccess' nanocast.

Bringing you retail concepts, terminology and processes explained in a simple way.

Trailer

Fri, 21 Feb 2020 11:49:46 +0000

Subscribe to SloppySuccess' Nanocast™.

Bringing you retail concepts, terminology and processes explained in a simple way.