8 Ways to Turn Information Into Profit
of Clark's Pump-N-Shop:
"We are reducing shrink, increasing profit and saving operational expenses. With PB3™ (Pricebook) and C-Store Analytics™ at our 64 stores, Clark's Pump-N-Shop
uses inventory control and information to increase profit."
- Control purchases to control inventory. We stopped unauthorized inventory by disallowing open item purchases, resulting in immediate inventory control. Unauthorized items cannot hide in open categories. Vendors' unauthorized items are immediately returned.
- Higher margins. We force purchases by item, resulting in higher margins and lower shrink. Inventory padding is prevented because stores cannot enter their own retail.
- Reduce shrink. With PB3™ we have a 12% decrease in shrink and spoilage, companywide. Utilizing better reports, drilling down to exact transactions, and having detailed inventory allows better inventory control.
- Time is money. Reducing time waiting for paperwork, posting and processing and efficient store communication are enabled by having home office inventory levels match our stores' inventory. With the ability to drill down to the transaction, we find errors and save time by not researching invoices and historic data.
- Detailed analysis is provided through C-Store Analytics™. We see market basket purchases, what and when items are purchased, so we can better plan mix match and combo specials and make decisions about inventory placement.
- Additional revenue, less operational cost are achieved by evaluating sales volume per store per hour. Based on data, we open earlier to capture lost revenue or close earlier to save expenses resulting in thousands of dollars of profit.
- Cashier Performance. Using a cashier heat map enables monitoring of incidents by cashier by store allowing us to address training or shrink issues. If termination is needed, the report is added to the HR records.
- Information on the goI want information no matter where I am, no matter what time. C-Store Analytics™ reporting allows access to information wherever I am, using my smartphone or tablet. It is the most useful tool we have to run our business efficiently.
"I am really impressed with PB3™ and C-Store Analytics™. We are more competitive and profitable because of CMi. "CMi no longer offers just a "back office" software, it is an "anywhere" software. By getting better, faster information we can use our time to focus on customer service and getting our customers to Return, Refresh, and Refuel with Clark's Pump-N-Shop.