Retail Sales Balanced Scorecard Metrics Template (COGS, Cost of Goods Sold)
Sales Controller is a metric group that diagnoses the retail sales efficiency. It operates with numbers that objectively scrutinies the state of things in your retail business and detect any minor changes, both positive and negative, that may influence your business's prosperity. For example, Sales by Department or Sales by Product Category values allow to compare product categories, to determine what products are more popular with customers and can bring more profit to the business. Also the Cost of goods sold (COGS) approach includes costs associated with production and service. Sales Capacity metric keeps track of sales hours applied by the company to generate revenue, while Selling Hour Value determines the worth of each sales hour. These are all important numbers that will enable you to analyze the status of your business precisely and promptly.
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What are benefits of Retail Sales metric:
- Retail sales are the drivers of the market. This is a must have KPI for every organization in the retail business.
- Sales capacity is all important, that is why adoption of the right retail sales metrics is a must!
- Discover cause and effect ties between sales volumes and indicators in the other 3 BSC perspectives, for instance customer satisfaction or training and learning.
More ideas on using Retail Sales KPI:
'Increasing sales volume' is the ultimate aim of retailers. Therefore, all the available resources are used up in achieving this objective.
However, a means to track the manner in which things have been going on in retail sales area should be structured.
In other words, a monitoring tool for counting the steps and moves taken is required in retail sales sector. This can be in the form of BSC (Balanced Scorecard) that has several useful and relevant metrics listed on it. This strategy came up in 1990s by Norton and Kaplan who realized the power held by 'non-financial' indicators. This paved the way for inclusion of 'non-financial' counterpart in the scorecard in addition to the financial fraction that was relied 'much more than needed'.
The note of caution here is to create an appropriate mix of both the categories of indicators and move ahead with the 'statistical job' of correcting the things and keeping situations under control.
Once this is successfully done, the user form retail sales field can be assured of moving on right and exact path as numbers give strong proof for adopting a particular route or making a given decision.
More useful information for Retail Sales:
Sales best practices articles:
Retail Sales Evaluation Balanced Scoreboard Screenshots
Metrics for Retail Sales. This is the actual scorecard with Retail Sales Indicators and performance indicators.
The performance indicators include: retail sales.
Download or purchase Retail Sales Evaluation Balanced Scoreboard