Your Business Compass for Success!
January 5 & January 7, 2021 11:00AM-2:00PM EDT (New York) (3 Hours Each Day)
The Retail Math & Analytics Workshop Online is a 2-Day (2×3 Hours) intensive program designed to inform retail professionals about Key Retail Metrics, their calculations and their importance in daily retail operations. Key Performance Indicators that are essential for measurement of retail operational and merchandising success are covered in detail. In addition, this program contains a section on the very important management tool – Balanced Score Cards as they apply to Retail Management. Profit Multipliers, Retail Analytics (Big Data) as well as use of Artificial Intelligence in Retail are also discussed in great detail.
Introduction to key retail metrics. (Sales, Operations & Inventory Productivity Measures)
6 Pillars of Retail and how to optimize them for maximum sales and profitability.
eCommerce and Online Marketing metrics & KPI’s
Definition and explanation of terminology used in Retail Math.
Key Performance Indicators for Retail Sales, Operations & Merchandising.
What to measure, how to measure and how to interpret the results
Commonly Used Formulas.
Operating Statement (P&L Statement) – Sometimes it’s called the business plan because everything comes together here to give you the full story.
Balanced Scorecards and Their Implementation in Retail Management – How can you monitor and control your business through just one number. (Includes the Development of sample Balanced Score Cards for Director of Sales, District Manager and Category Manager/Buyer)
Profit Multipliers – A technique to be used when facing huge performance increase demands.
Conversion Analytics – There is a lot more behind the scenes of this KPI. We’ll open your eyes to hidden potential of your store(s).
Open-to-Buy – Arguably best tool for inventory planning and control. We’ll take the mystery out of solid OTB planning for you.
Sell-Thru Scenarios – This is where a good and better buyer/category manager shines.
Retail Analytics (Big Data), Artificial Intelligence & Machine Learning Applications in Retail – Customer Profiles, Targeting, Forecasting, Customer Loyalty and more…
Here’s What the Previous Participants Said
“Very interesting course applied to real life scenarios.”
“Great new ideas to implement.”
“Interesting, refreshing and holistic.”
“After having studied a year of Retail Management at Masters level the course was a fantastic recap of everything in two days.”
“A good amount of operational notes and ideas to drive business.”
“Thank you for the very informative seminar that was held at the Sheraton in NJ this week! The information will be very useful in our company and we plan to share that info with our sales teams as well. The instructor definitely knew the material well, shared his best practices and provided a great deal of insight on “retail math”—exactly what we were looking for.”
What You’ll Learn:
Why the success of your retail operation depends on your ability to determine, and accurately measure, your Key Performance Indicators. Measurement of important metrics and determining the key performance indicators is one of the most important activities for a retail manager at store/district/region/company level. Failure to identify your most important metrics and KPI’s can be fatal to your business.
Retail Math, Metrics and KPI terminology and definitions.
Commonly used formulas.
What to measure, how to measure and how to interpret the results.
What action to take based on the results.
Overview and examples of Open to Buy, Sell-thru and Operating Statements.
How to create and implement Balanced Score Cards at any level in your retail operation. Balanced Score Cards are used to summarize your most important KPI’s on one page – right at your fingertips – while considering all angles of your retail operation: Financial, Customer, Processes and Growth & Development.
Understanding the mechanics of target setting, utilizing the Profit Multipliers.
Full comprehension of Retail Analytics & Artificial Intelligence and their use in retail business intelligence as management decision support.
Who Should Attend:
Anyone who has a responsibility to drive sales and profits, including VP Sales, VP Merchandising, District and Regional Managers as well as Buyers, Category Managers and other appropriate Head Office Staff. Supplier/Vendor staff who deal directly with retailers will benefit greatly from this workshop as well.
Why You Should Attend:
Practical, applicable and actionable content delivered by top experts in Retail Sales & Operations Management to drive your sales, productivity and profitability. Proven to increase those metrics by double digits. Check out the testimonials.
Value: Apart from acquiring complete knowledge, participants will enjoy a 30-Day unlimited Q&A through email after the workshop (A $1,000 value by itself)
ROI: Return on investment can be as high as 1,000 times the registration fee based on your company revenues and how many techniques, ideas and methods from the workshop you implemented.
Positions you as an expert .
Creates a “larger picture” mentality.
Improves your standing as a Retail Management Leader
Two days that will produce a lifetime of results.
Facilitator – Matt Parmaks
With years of retail and related experience, Matt provides his audience with a wealth of real life examples on the ‘why’ and ‘how’ of best practices in just about every area of retail.
During his retail management career, both in sales and merchandising executive positions, Matt has generated more than $750 Million revenue and has been responsible for sales organizations as large as 1000 salespeople.
Matt has extensive knowledge about the retail industry, gained through formal education, work experience and a keen interest in business and world affairs.
He is the author of numerous books and articles in Retail Performance and Managerial Productivity. Matt received Bachelor and Master of Science degrees in Engineering from the University of Birmingham in the UK.
What is Included:
Presentations, practical exercises and case studies
All workshop materials and all take away materials including session recordings and slides
Duration: 2 Days (11am-2pm)
Registration Fee: $295
Advanced Retail Math & Analytics Workshop Online 2020
January 5 & January 7, 2021 11:00AM-2:00PM EDT (New York)(3 Hours Each Day)
Contact: Josephine Hill
Phone: +1 (312) 239-0919 or +1 (800) 953-4501
“The price of education is paid just once. The price of ignorance is paid forever!” Anonymous
DMSRetail reserves the right to change dates and/or locations, and to cancel any workshop at any time. If a registered and paid participant cannot attend a workshop they may send a substitute or they may attend a future workshop in the location they choose. The credit does not expire. If DMSRetail cancels a workshop, registered paid participants are entitled to a refund of their workshop fee paid. DMSRetail is not responsible for any other costs.