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McMahon's Retail Finance & Inventory Articles  Article Series

Financial management and inventory control articles for furniture stores by retail consultant David McMahon of PROFITSystems.

Series Articles

Business Intelligence & Mobile Dashboards

12/3/2012

No matter which software system you are running, you have thousands of report queries available. How you sift through this data and make sense of it all is the purpose of business intelligence or “BI”.

Gross Margin Is In Your Head

9/25/2012

David McMahon presents proven strategies that can produce 50 to 60 percent gross margins even in highly competitive markets.

Think Profit! - Part 3: Cash Flow

6/6/2012

An in-depth look at how to analyze one of your three critical financial statements: your statement of cash flow.

Think Profit! -Part 2: Your Balance Sheet

4/11/2012

An in-depth look at how to analyze one of your three critical financial statements: the Balance Sheet.

Think Profit!: In-Depth P&L Analysis

3/20/2012

An in-depth look at how to analyze one of your three critical financial statements: the Profit and Loss.

iPad and App Revolution Coming To Furniture

12/5/2011

99% of furniture retailers will have their own app within 5 years.

Flexible Budgeting For Furniture Retailers

10/4/2011

Flexible Budgeting lets you ‘Flex’ your top line and observe the resulting operational effects on your P&L and operating income.

Setting Minimum Standards for Sales Performance

5/30/2011

Why is everything you ever thought about commissions, and the things that motivate salespeople to perform, probably wrong? Poor performing salespeople don’t need disciplinary actions or warnings, they need help, and they need coaching. To coach you have to have a game plan, a strategy, a plan, just like sports teams have.

Retail Break Even Analysis

3/15/2011

This article will demonstrate how to calculate your break-even point of sales. It also provides real world examples of ways smart retailers can reduce their break-even points and level of risk.

Five Smart Steps To e-Tail Inventory Management

1/5/2011

Today, consumers initiate their shopping experience. If they find you through Google, you have a chance to get their business. Here’s how to manage your e-tail inventory to make the most of an initial website contact. Included is a 12-step process that will help to make their buying decision easier.

Get Furniture Store Employees to Do What YOU Want

12/10/2010

Using rewards as enticements and threats of punishment are approaches aimed at obtaining obedience and compliance, but they can overpower, rather than empower.

Pay For Performance!

11/24/2010

A prime reason why top performing companies out perform their average performing peers is because they pay people extra when they perform better. Here is how to go about taking this path to success.

Let's Simplify Your Inventory

7/9/2010

David McMahon shows you the core practices that the most profitable businesses follow to achieve the highest return on their inventory investment.

Eight Techniques to Boost Profit in Tough Times

11/19/2009

Some retailers seem to always manage to perform well. In this article David McMahon takes a close look at what those successful retailers do to cut costs during lean times and achieve maximum returns. Specific steps to cut fixed costs and make retail operations more responsive to cost cutting measures are examined.

Measure Gross Margin Return On Inventory

10/4/2009

Track this inventory metric to understand your customer’s buying patterns, establish a more relevant product mix, satisfy more people and sell more.

7 Common Characteristics of Profitable Furniture Businesses

8/19/2009

What are the characteristics that separate the best operations from the worst?

Harness The Power Of e-Marketing - Part 2

4/6/2009

Old media techniques broadcast a campaign that is the same for everyone. Here’s how to target specific groups with messages they want to see, when they want to see them.

Boost Cash Flow & Generate Sales Now

4/6/2009

This article tells the story of a furniture store owner in St. Augustine who used fresh tactics to beat last year’s numbers in November, December, and January. How he did it is instructive and worth your attention.

Boost Cash Flow & Generate Sales Now

4/6/2009

This article tells the story of a furniture store owner in St. Augustine who used fresh tactics to beat last year’s numbers in November, December, and January. How he did it is instructive and worth your attention.

You Can Harness The Power of e-Marketing

1/14/2009

New media is uncharted territory for many furniture retailers, but with a bit of knowledge you can be one of the first in our industry to do it right.

Modern Ways To Increase GMROI - Part 2

9/11/2008

Part 2: Old school ways to increase this critical measure are just not enough anymore!

Modern Ways To Increase GMROI - Part 2

9/11/2008

Part 2: Old school ways to increase this critical measure are just not enough anymore!

Markdown Strategies That Work!

11/9/2007

Part 4 of the Dynamic Inventory Management Series presents the Five Golden Markdown Steps. This efficient markdown system has a considerable impact on profitability and cash flow because it greatly increases turns, improves gross margin, sales and cash flow.

Why 20% Inventory Is Too Much!

9/14/2007

You can escape the excess inventory trap before you become too entangled, or avoid it altogether if you understand the reasons why so many otherwise good companies get caught.

Dynamic Inventory Management - Part 3

7/27/2007

Buyers, who aren’t involved in the inventory management process, produce lower GMROI. It is, therefore, critical that they become expert inventory managers and that their duties don’t end with the filing of a purchase order.

Dynamic Inventory Management - Part 2

2/27/2007

This series looks at tools and techniques you can use to measure and improve the health of your inventory over time.

Are You Inventory Rich And Cash Poor?

12/14/2006

Increasing furniture inventory turns and velocity is critical to business profitability and survival. Reducing inventory and preventing buildup of unnecessary inventory is not a quick fix.

Dynamic Inventory Management - Part 1

12/5/2006

A two-part series that looks at tools and techniques you can use to measure and improve the health of your inventory over time.

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