Read inventory management tips, ideas and best practices with Excel formulas and examples at HedgesCompany.com

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Total Part Numbers in the Automotive Industry, With ACES and PIES Data

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The automotive aftermarket has focused a lot on ACES and PIES product data standards in the past few years, so have you ever wondered how many total part numbers are in the automotive aftermarket? (Scroll down for ACES and PIES defined.) Note:…

How to Calculate Gross Margin Return on Investment (GMROI) to Manage Inventory

Learn how to calculate GMROI (Gross Margin Return on Investment). The Turn/Earn Index and GMROI are two simple ways to help manage your inventory and run your business. Need to know the GMROI formula? Read on! GMROI formula definition: GMROI…
excel formula

How A Price Increase/Decrease Affects Gross Profit vs. Unit Sales

(Note: if you just need to calculate gross margin or mark up, please scroll down.) If you want to increase gross margin with a price increase, you should know how gross profit is calculated and assuming a drop in unit sales, how many unit sales…
gmroi turn earn

Rule of Three Marketing: Market Share and Market Dynamics

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Why do some companies thrive and dominate their market segment, only to later become an afterthought? Market dynamics and the Rule of Three explains how some companies succeed and some fail. Most industries and market segments, including…
gmroi turn earn

Using the Pareto 80/20 Principle to Analyze your Business and Increase Profits

Here's how the 80/20 principle can be used to manage your business, reduce costs and increase your profits. You've probably heard about Pareto's Law or the 80/20 principle, although most people only understand 20% of it, 80% of the time (rim…