Tag Archive for: Inventory management
7 Automotive POS Systems Compared for 2024
Auto Aftermarket News & TrendsThere are many options for an automotive POS system (automotive "point of sale" software) to help you run your auto parts business. Some POS systems branch out into managing inventory, customer records or managing multiple retail locations.…
Product Data Questions Answered: ACES and PIES Data, Is There An Auto Parts Fitment Database, Automotive Part Numbers
Auto Aftermarket News & Trends, Automotive Market ResearchHere we explain the ACES and PIES product data standards, which we've been working with at Hedges & Company for 20 years.(Note: here's a link for information on PIES data and how it affects auto parts SEO.)Here's a quick way to remember…
GMROI Formula to Calculate Gross Profit Margin Return on Investment
Automotive MarketingLearn to calculate GMROI (Gross Margin Return on Investment) in Excel. It's an important tool we've used for nearly two decades of strategic consulting for clients. GMROI definition: GMROI (Gross Margin Return on Investment) evaluates profitability…
Stages of Business Growth: Learn the Growth Stages of a Company
Automotive MarketingStages of business growth for strategic planning If you're doing strategic planning, the stages of business growth tend to be similar for many growing businesses. As a business grows, it goes through distinct stages of growth. These stages…
How An Increase in Sale Price or Decrease in Sale Price Affects Gross Profit vs. Unit Sales
Automotive MarketingCalculate the impact of price increase on gross profit New bonus: Calculate a percentage increase or decrease in Excel, just scroll down to download your own Microsoft Excel workbook with the formulas for a price increase/price decrease and…
Rule of Three Business Examples
Automotive Market Research, Automotive MarketingWhat's the Rule of 3 in marketing? Here are Rule of Three business examples. The Rule of Three explains why some companies thrive and dominate their market segment, only to later become an afterthought. Market dynamics and the Rule of Three…
Learn How To Do 80/20 Analysis in Excel to Analyze your Business
Automotive MarketingLearn how to do an 80/20 analysis in Excel, and use the 80-20 principle 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…