Home' The Channel Magazine : National Newsagent June 2012 Contents National Newsagent June 2012
But why is this so important, you might ask? The answer is
simple logic: If magazine distributors can collectively assess how
well newsagents are doing in the WHOLE of magazine management
at each important juncture (not just sales data), then they can better
manage allocations. This means that if we get accurate sales data
combined with accurate returns data in both the scanned data and
the actual data (forensically looking back a few months to compare
scanned with actual/derived data), we improve the platform upon
which magazine distributors can make allocation decisions.
While the above does not take into account other variables such
as special occasions, it is a pretty good formula. Better magazine
management also leads to better cash flow management for you.
The diagram below illustrates the cycle
By way of reminder, Variance is a formula that compares
Scanned Sales plus Returns to Derived Sales plus Returns, and
calculates how close the match is between them. Within this
fairly complex formula is the Returns element of any newsagent’s
operation. Thus, by tracking scanned sales and scanned returns,
then comparing them to the derived sales and derived returns, the
distributor can get a view on how reliable the scanned data is over
a reasonable time. In turn, this puts them in a position where they
can rely on the data to make better allocations.
More reliable data across more and more newsagents means the
distributors and publishers will be able to more accurately forecast
supply of product.
But what does it take to get to more reliable data from more
newsagents? Well, it’s no different to any other need for reliable
data—we need a majority of newsagents across the various
geographic locations, using all the various POS types, working
with all magazine distributors providing data that passes ITC&V
That is not as difficult as it sounds, albeit complex and requiring
constant vigilance. The mantra, however, is simple: scan everything.
Scan deliveries, scan sales, scan returns, send sales files every day,
on time. None of this is difficult, and nor does it require a business
behaviour different from the everyday operation of your store. Many
newsagents are already proving this by consistently getting great
ITCV scores each month.
Over the past year we have seen an increase in the number of
newsagents getting better and better at scanning their sales and
scanning their Returns, leading to more reliable data. If this trend
continues, and there is every reason to believe it will, we will see the
majority of newsagents getting to gold for each distributor. That is,
passing all their ITCVs each month for each distributor. So, hats off
to those who are already passing their ITCVs, and to those who feel
they need a bit more help, please call us.
The XIT Team.
GETTING TO GOLD – A
COMMON SENSE WAY TO
CONSISTENTLY PASS ITC&V
In previous issues of National Newsagent (September 2011 and January 2012), we described
the importance of passing ITCs (Integrity, Timeliness & Continuity), and Vs (Variance). So far
newsagents are doing a fantastic job on their ITCs with a consistent 80% + pass rate. While
the Variance results are climbing steadily we still have a way to go.
ENGIN EER ING
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Specialising in Professional Services to
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✔ Income Tax
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ARE YOU A SMALL SHOP OR A DELIVERY-ONLY BUSINESS WITH NO NEED FOR AN
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ANF DIARY DATES
ACP Connections Conference
11 August 2011
Sheraton on the Park Ballroom, Sydney
21-24 August 2011
Crown Conference Centre, Melbourne
GNS Market Fairs
Perth 31 July
Sydney 6-7 August
Melbourne 20-21 August
Brisbane 10-11 September
2011 Reed Gift Fairs Dates:
Brisbane: 2 - 5 July
Melbourne: 6 - 10 August
Sydney: 17 - 20 September
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