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:…
gmroi turn earn

Turn Earn Calculation and GMROI to Manage Inventory

The Turn/Earn Index and Gross Margin Return on Inventory (GMROI) are two simple ways to help manage your inventory and run your business. Want to know what GMROI means? Read on! Turn-Earn Index definition Turn-Earn Index defined: Turn and earn…
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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 the…
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…