Financial management and inventory control articles for furniture stores by retail consultant David McMahon of PROFITSystems.
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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”.
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9/25/2012
David McMahon presents proven strategies that can produce 50 to 60 percent gross margins even in highly competitive markets.
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6/6/2012
An in-depth look at how to analyze one of your three critical financial statements: your statement of cash flow.
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4/11/2012
An in-depth look at how to analyze one of your three critical financial statements: the Balance Sheet.
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3/20/2012
An in-depth look at how to analyze one of your three critical financial statements: the Profit and Loss.
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12/5/2011
99% of furniture retailers will have their own app within 5 years.
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10/4/2011
Flexible Budgeting lets you ‘Flex’ your top line and observe the resulting operational effects on your P&L and operating income.
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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8/19/2009
What are the characteristics that separate the best operations from the worst?
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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.
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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.
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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.
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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.
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9/11/2008
Part 2: Old school ways to increase this critical measure are just not enough anymore!
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9/11/2008
Part 2: Old school ways to increase this critical measure are just not enough anymore!
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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.
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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.
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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.
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2/27/2007
This series looks at tools and techniques you can use to measure and improve the health of your inventory over time.
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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.
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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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