The Analytics module's landing page presents important information about your account.
One of the reports that you can find on the Analytics landing page is the Opportunities Found by Skubana report, which identifies, as its name implies, opportunities for improving your company's bottom line.
Please keep in mind the values on this report are not accurate until your vendor costs are in the system.
The report is divided into four columns:
- Action to take - our recommended course of action on the product; can be either increase profit or cut cost (see below for the detailed explanations)
- Description - provides the reason/s for the course of action (mouse over the icon to see the detailed description)
- Opportunity - what taking action will mean to your store
- Amount - the monetary value behind the course of action
Skubana looks for profitable products that have high sales velocities and are running low on inventory and tells you how much to optimally re-order to increase profits for those products. To qualify for this opportunity, a product must meet the following threshold criteria:
- Unit profit margin equal to or greater than $1.00.
- At least one full inventory turnover in the selected 30/60/90 cycle.
- COGS greater than average inventory value during the 30/60/90 cycle.
If you see products for which this opportunity is found, you should order them from your vendors if you haven't done so already.
Conversely, Skubana also looks for products with high inventory value that are not selling well. To qualify for this opportunity, a product must meet the following threshold criteria:
- No sale of any kind in the selected 30/60/90 cycle.
- Average inventory value of at least $1,000.00 during the 30/60/90 cycle.
If you see products for which this opportunity is found, you should consider liquidating them immediately.
Exporting the Report
Like most Analytics reports, you can export this report as a Microsoft Excel worksheet. For instructions on how to do that, click here.
TIP: When using Skubana, click the ? icon at the top-right of the report to display this Help item online.
The Money Saved Using Skubana report is one of the other reports on the Analytics landing page. You can find more details about that report here.