Margin expansion is achieved through a sustainable increase in revenue and the reduction of cost and loss. Increases in revenue are accomplished through actions including out of stock prevention, catalog monitoring, on-shelf availability improvement, discount reduction, and monitoring vendor compliance. Cost and loss reduction is reached through return reclamation, margin erosion prevention, and the reduction of damage, waste, freight cost, and shrink, to name a few examples. These increases in revenue and decreases in cost are obtained by putting the building blocks of profit amplification to work. The key components of scalability, sustainability, and accountability are all essential factors needed to attain margin expansion goals and customer experience objectives.
As a business scalable solution, Profitect sends opportunities to “owners” and tracks best practice execution which makes the solution capable of adapting to the size of your business, finding opportunities from the store, all the way down to the sku level.
From identifying opportunities all the way to actions, this is not another reporting system or another exception management system. Profitect provides scored and ranked priorities that get to the field for execution based on your culture and best practices. Ease of use makes it simple for new employees to get up and running quickly.