There are a lot of numbers to keep track of in any sized retail business - including nano and micro retailers - and all numbers seem to relate to each other. Some numbers are used and looked at on a daily basis and others on a less frequent basis. The balance sheet contains numbers that are looked at less frequently and yet, it needs to be as upto date as possible. This Nanocast™explains what a balance sheet is and what is in it.

Terminology

NMR = Nano and Micro Retailer - listen to this podcast to find out more about NMRs.

Merchandise Planner - Listen here to find out what merchandise planning is.

There are different types of products available to purchase, from the physical ones to the virtual ones to the ones that are intangible.

Terminology

NMR = Nano and Micro Retailer - listen to this podcast to find out more about NMRs.

Merchandise Planner - Listen here to find out what merchandise planning is.

Understanding what a profit and loss statement is makes understanding the overall performance of a business easier. This is why it is important to keep a record of all income and expenditure incurred. 

Terminology

NMR = Nano and Micro Retailer - listen to this podcast to find out more about NMRs.

Merchandise Planner - Listen here to find out what merchandise planning is.

Sales revenue is something everyone who sells products and services looks at. It is one of the first figures we are all programmed to look at. 

Terminology

NMR = Nano and Micro Retailer - listen to this podcast to find out more about NMRs.

Merchandise Planner - Listen here to find out what merchandise planning is.

Artificial intelligence is used in a lot of things we do. In retail it is also used to aid in automating repetitive tasks, collate information and refresh data.

Terminology

AI = Artificial Intelligence

NMR = Nano and Micro Retailer

Sell through is another way to measure inventory performance.

It can be calculated at different levels of a product hierarchy and provides information to aid in making inventory related decisions.

A figure that helps understand the balance between inventory and sales. Also known as inventory turnover and inventory turn, this Nanocast™ episode gives retailers a general idea of what the stockturn figure shows.

There are 5 key parts needed to create a product hierarchy. This Nanocast™ episode goes through each need by using an example.

When creating budgets, it is usually done for a locked timeframe. This Nanocast™ gives a simple look at the difference between a rolling and fixed budget. It also gives a few advantages and disadvantages for each one.

Top and tail, head and feet, start and finish, top line and bottom line! These are phrases used to describe opposite ends of the same thing. This Nanocast™ episode explains what is meant when you hear ‘top line’ and ‘bottom line’.