- “Basics of managing Retail Business Performance” by applythinking. This post provides an insightful analysis of how retailers must use both turn and gmroi to analyze their overall performance.
- “How Much Does Your Beer Really Cost?” by Scott Metzger. This cost analysis article was originally posted in The New Brewer back in February, but I didn’t see it until it hit C-Store News in June – so I’m counting it as a summer article. The cost analysis is thoughtful, and provides helpful explanations of the various methods as well as recommendations on how best to use the information (even if you sell something other than beer.)
- “6 Tips to Drive Inventory Turnover” by Ted Hurlbut at the “All Things Retail” blog. While this isn’t exactly an article on mathematical analysis, it is an excellent explanation of how a retailer can improve their inventory turnover. You will also find a short Youtube video giving highlights from the article.
- “The Mathematics of Bookselling” parts one and two by Dave Sheets at Lessons from the Saddle. Dave takes the reader through a thoughtful analysis of gross margin percentage and inventory turnover in the bookselling industry. His examples are clear and easy to follow, and could be applied to any retail sector. He also has a 5 minute video covering some of the same material.
- “Sales, Stock, and Inventory, Oh My! How to Use POS Data to Improve Retail Operations” by Scott Kreisberg at The Point of Sale News. This article is a helpful explanation of the 5 key retail math measurements that should be used when assessing the performance of your inventory.
There you have it. The top 5 articles of the summer – in my humble opinion. Please leave a comment if you feel there are others that should have been added to the list.
photo credit: <a href=”http://www.flickr.com/photos/simax/3390895249/”>Michael | Ruiz</a> via <a href=”http://photopin.com”>photo pin</a> <a href=”http://creativecommons.org/licenses/by/2.0/”>cc</a>