Product Gross Profit
List of top five products based on volume, listing product name, volume and total revenue.
Why do I need it?
This gives the business an indication of the most profitable products and services they provide. It focuses their attention on the products that should be advertised/promoted and given the greatest attention. It also helps the business to limit stock levels of less valuable products with little margin and identify customer trends of future products to sell.
How do I get the right information?
The widget is dependent on POS information being entered accurately. Sales and inventory information needs to have correct allocation of direct costs.
Sales & Inventory information entered incorrectly and not matched correctly. Invoices not entered on the day of sale.
How to make the most out of your widget?
Small price adjustments to high volume low margin products may cause significant changes in financial results and increasing prices is the fastest and most effective way to increase profits if the volume is sustained.