No, Not About People This Time
While we typically think of people as recipients of recognition – and we trust you already are doing that, right? – this is a different challenge.
Ready? Here we go! Of your merchandise, which products are Award Winners?!
- "MVP, Most Valuable Product"
Hint: GMROI provides good indicators here
- "Rookie of the Season", e.g., Best New Product?
Is it what you expected?
- "Most Unsung Hero", or, the most unexpected top-performing product.
Who saw that coming?
- "Most Deserving of a Farewell Tour"
Oops, under-performing once again.
Weekend Specials, there they go!
- And, just to add some fun and intrigue to the mix, be sure to ask your employees to vote on each of these categories.
- Could be an interesting conversation starter at your next meetings.
Now, Take Another LookOnce you've reviewed your POS reports for products, take another look at them. Now, do the same analysis for your vendors. Really! There might be some real surprises there!
Which vendors are "award winners" for your stores?
- Which vendors have the the best GMROI for your operation?
#1 measure of inventory productivity
- Which vendors provided your Rookies of the Season merchandise? Your unsung heroes?
Good to go with a winner, right?
- About that merchandise most deserving of a Farewell Tour; any concentrations among certain vendors?
Doing too many favors for that sales rep who's become a pal?
And one more thought: Keep this list of award winners handy, and be sure to review it before you place any orders for next year! Hindsight for foresight, that's what the pros do.