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Hub You - Pricing By Demand Instead of By Purchase Price
While we know exactly the role played by a physician, who is a physician assistant (PA)? Is he one who simply assists a physician in his or her clinic? A PA can be defined as one who is licensed to practice medicine under the guidance of a physician. This guidance, in most cas
The better method is to sell the premium stones at a premium price, the average stone at an average price, and the poorly cut stone at a
You settle down to watch the movie. Aliens have landed – everybody panics and waits for the hero to arrive with a plan to save the planet. Until someone screams, “But he’s on annual leave this week!” We all hope that somebody, somewhere will take care of whatever disas
Everyone makes mistakes when buying inventory. Some items sell consistently well while others move slowly. Many retailers have a hard time discounting the slow movers and dropping the item from inventory. They feel that because the item is still in stock and may eventually sell at the desired price then the accumulated inventory is like a savings account. If you consider your poor selling items as savings, however, you have invested your life’s work in a poor investment.
What happens is that over time your inventory mix gets choked with the accumulated poor sellers. You inventory is composed of items past customers avoided in favor of better sellers.
Jewelers do this all the time. They buy a parcel of (5) one carat diamonds and apply a standard markup to them all. They sell the three nice cuts fast, then sell the average cut in a normal time, and the poorly cut diamond sits in their inventory as "savings". Over time, the dealer's inventory consists of these poorly cut stones but is supposedly worth $100K. In reality, however, it is worth less than that because the $100K represents the book value and not the market value.
The better method is to sell the premium stones at a premium price, the average stone at an average price, and the poorly cut stone at a
Though Asia and the Orient are considered to be West of North America, they long ago acquired the descriptive term, The Far East. Without going into a lot of deep research, my guess is that since England, in it’s colonial expansion centuries ago, had many ships sailin
What happens is that over time your inventory mix gets choked with the accumulated poor sellers. You inventory is composed of items past customers avoided in favor of better sellers.
Jewelers do this all the time. They buy a parcel of (5) one carat diamonds and apply a standard markup to them all. They sell the three nice cuts fast, then sell the average cut in a normal time, and the poorly cut diamond sits in their inventory as "savings". Over time, the dealer's inventory consists of these poorly cut stones but is supposedly worth $100K. In reality, however, it is worth less than that because the $100K represents the book value and not the market value.
The better method is to sell the premium stones at a premium price, the average stone at an average price, and the poorly cut stone at a
Don’t scare away your customers by saying the wrong thingsCustomers expect a certain kind of behaviour from companies and if we want to stay in business, it is our job as service providers or manufacturers to stand up to those expectations. There are certain things that
Jewelers do this all the time. They buy a parcel of (5) one carat diamonds and apply a standard markup to them all. They sell the three nice cuts fast, then sell the average cut in a normal time, and the poorly cut diamond sits in their inventory as "savings". Over time, the dealer's inventory consists of these poorly cut stones but is supposedly worth $100K. In reality, however, it is worth less than that because the $100K represents the book value and not the market value.
The better method is to sell the premium stones at a premium price, the average stone at an average price, and the poorly cut stone at a
Environmental conservation has recently become the latest buzzword among major countries in the world. As governments of developed countries realize the importance and inevitability of working towards environmental conservation, major business houses are trying to comply with
The better method is to sell the premium stones at a premium price, the average stone at an average price, and the poorly cut stone at a
Is knowledge management much to do about the dichotomy between the generalist and the specialist.“The process of Knowledge Management or KM incorporates the desire to expand our range of inquiry with the need to simplify our decisions.” (Wikipedia).Simplif
The better method is to sell the premium stones at a premium price, the average stone at an average price, and the poorly cut stone at a discount. It averages out to a normal profit but keeps all the money in play so you can purchase the next parcels of five diamonds. The need for this system becomes even more critical when the inventory is subject to spoilage like clothing. At the beginning of the season people pay a premium but by the end of the season the retailer is looking at carrying these off season items for six months in storage. Worse, the items can go out of style before the next season and may never sell.
Large retailers already implement this system of selling high at the beginning of the season and discounting to liquidation at the end of the season. Even if your goods are not seasonal, your cash flow and turnover will benefit by selling the best goods at a premium and the dogs at a discount until liquidated.
Don't let your dogs become your savings.
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