Profit IdeasC-19 Paradigm Change: Getting to the "new normal"
Bruce Merrifield, President
Merrifield Consulting
Thursday, April 30, 2020
•distribution management best practices •sales practices •profit war stories •line-item profit analytics in distribution •Bruce Merrifield •customer profitability •coronavirus •COVID-19 •downsizing
The C-19 pandemic has popped the global, bubble economy. The just-in-time, supply chains and economies loaded with too much debt are all disrupted. Most of the global economy is locked-down. How will the New Normal economy emerge? No one knows. Guesses abound. Bruce Merrifield presents adjustable, downsizing plans for - best, likely and worst – case scenarios. In parallel to C-19 challenges, don't forget to be inventing winning "digital models" by 2023. B2B e-buying was ascending before the pandemic. Now, C-19 necessities are teaching everyone how to use and like virtual interactivity and buying.
Two Downsizing Methods: Chain-Saw v DURRR. The chain-saw technique? Use your financials to do what has worked in the past: even though present challenges are unique. Cut: all discretionary spending; all forward investment; and all operating-costs as fast as - sales, margin dollars and profits - fall. Then, sell harder (the same way) and be tough with channel "partners" in the - zero-sum, win-lose concession struggles. Or: DURRR? Use net-profit analytics (with a cost-to-serve model at the line/pick/sku level). [click for article]
Downloads: C-19-Paradigm-Change.pptx
For more information about Bruce Merrifield, visit: www.merrifieldact2.com
Is Your Specialization Paralyzing Your Growth?
Bruce Merrifield, President
Merrifield Consulting
Thursday, March 12, 2020
•WayPoint Analytics •management strategies •LIPA •change management •Innovate for the Future •balance •innovation •profit tips •Randy MacLean •Bruce Merrifield •effectively managing people •management techniques •Merrifield Consulting •mix & balance •optimizing operations •operations •Customization
New, different tools can often be used for the same old job, but that's not always the right way to utilize them. When people are too focused on only their one specialty and forget to consider all aspects of a business, there is very little room for change. Specialization is good and healthy, but it should function more like the focused vision of a hawk than that of a horse with blinkers on. Some peripheral vision can enable people to think "where in the business can this tool be used best" rather than "how can this tool help me get my job done". [click for article]
For more information about Bruce Merrifield, visit: www.merrifieldact2.com
Beating Amazon at their Own Shipping Game
Bruce Merrifield, President
Merrifield Consulting
Thursday, February 20, 2020
•Amazon Supply •order fullfilment •big data •AmazonSupply.com •eCommerce •business analytics •optimizing inventory •delivery costs •optimizing operations •Financial Costing •analyzing fleet costs •set delivery price •analyzing delivery
Amazon has changed the way they do shipping, and the rest of the market has had to find a way to keep up with their impressive feats in transport. The nice thing about the system they're using is that it can be scaled down so that smaller companies can succeed with something similar. Randy MacLean and Bruce Merrifield lay out a plan for how you can make it work for you and your company. [click for article]
For more information about Bruce Merrifield, visit: www.merrifieldact2.com
Harnessing the Energy of Millennials
Bruce Merrifield, President
Merrifield Consulting
Thursday, January 30, 2020
•2020 Vision •WayPoint Analytics •management strategies •personnel development •change management •Randy MacLean •Bruce Merrifield •effectively managing people •management techniques •people management •leading change •personnel issues •Merrifield Consulting
The millennial coming into the market are energetic, ambitious, and won't be held back. They do away with old, outdated practices, and they aren't interested in "just settling". In this video, Bruce Merrifield and Randy Maclean discuss how to approach your employees with a growing millennial workforce, so you can harness their energy, rather than eating their dust. [click for article]
For more information about Bruce Merrifield, visit: www.merrifieldact2.com
How to Boost Your Bottom Line Without Price Hikes
Bruce Merrifield, President
Merrifield Consulting
Thursday, January 16, 2020
•profit analytics •2020 Vision •WayPoint Analytics •big data •profit strategy •line-item profit analytics in distribution •profit gains •money-losing activities •Randy MacLean •Gross Profit Margin •Bruce Merrifield •cost cutting •Merrifield Consulting •money-making •profitability management •profit metrics
There are many ways for companies to lower their bottom line, some more effective than others. "Buy low sell high" is one that hasn't been shown to work for decades now, so what strategy are you going to use? Watch Randy MacLean and Bruce Merrifield discuss some less-considered methods of getting the bottom line down. [click for article]
For more information about Bruce Merrifield, visit: www.merrifieldact2.com
Getting a Deeper Understanding of Costs
Bruce Merrifield, President
Merrifield Consulting
Wednesday, April 10, 2019
•profit analytics •WayPoint Analytics •cost-to-serve math •cost-to-serve in distribution •LIPA •line-item profit analytics in distribution •High Potential Accounts (HPAs) •High Efficiency Accounts (HEAs) •High Leverage Accounts (HLAs) •customer segmentation •costing rules •business analytics •Randy MacLean •distributor sales analytics •distribution analytics •cost to serve analytics •NBC •NBC (Net Before Comp) •Margin vs NBC •customer profitability analysis •Bruce Merrifield •cost cutting •payroll efficiency •Merrifield Consulting •cost analysis •cost reduction •customer profitability •cost reduction analysis •profitability management •account strategy •profit metrics
There is more to your costs that meets the naked eye. Taking a simple look at things, you can see the items that you make more or less money from overall. You can see which items are profitable. Most financial systems are not refined enough, and don't provide enough information to tell you the whole story of which products make you the most money. You need to find a deeper, more intelligent analytical system to truly understand what to do, and how to do it. [click for article]
For more information about Bruce Merrifield, visit: www.merrifieldact2.com