In order to get as much profit from the sale as possible, you need to properly manage your assortment. This is a problem for many manufacturers. To get the most, you need to put in a lot of time, draw up schedules, plan strategic moves. That is, it is hard work that requires care and time. The right approach will ensure not only maximum profit, but also minimum cost.
The first thing to do is optimization. It will multiply your sales and attract new customers. In addition, you can change your strategy for buyers. Come up with a new approach, an original strategy. Organize weekend sales, cut prices for certain items on certain days of the week. For example, on Monday, your store offers a good discount on expensive teas. Or on Thursday you will have a fish day. Prepare carefully for the various holidays. The more promotions, all kinds of programs you have, the more the consumer will be interested in your product. Perhaps, in order to increase profits, you have to analyze what product you sell well, for which there is excellent demand. And the rest is easy to remove from the counter. This is also an appropriate way to increase your financial position. Since it happens that there are a lot of goods, you constantly increase it, and the profit, as it was at the same level, remains, despite the large assortment.
Another important point is the issue of procurement. If you competently and correctly approach the solution of the issue, then you can win small advantages for yourself. For example, reduce the purchase cost or reduce the shipping cost. You need to be able to negotiate and be flexible in all difficult and acute moments.
Of course, not all firms and organizations undergo optimization. Because this is a risk that you can pay well for and lose everything you have. The process is influenced by several factors. Namely, over-focusing on suppliers, on advertising, and on the scale of the process.
Instead of listening to the wishes of consumers, the firm is focused on a specific supplier. Because of this, optimization becomes ineffective and impractical. Instead, study the demand for hot products. And if necessary, change or find a couple of three more new suppliers.
As for advertising propaganda, there is an unnecessary contamination of the product with all sorts of promotions, discounts, markdowns, and various offers. Or, active advertising of one product is at the expense of other products.
Regarding the size of optimization, everything is simple here. If the management could not correctly calculate all the moves, foresee some nuances in advance, or simply could not cope with the organization of the process, then all the work will be done in vain.
There are three areas that will ensure successful optimization:
- Consumer orientation. It is necessary to take into account all his wishes, claims, recommendations. You should focus on your contingent
- Distribution of product categories and correct organization from further development, implementation
- The right approach to organizing optimization
