Bruce Merrifield, President — Merrifield Consulting
•profit analytics •WayPoint Analytics •cost-to-serve math •cost-to-serve in distribution •LIPA •line-item profit analytics in distribution •High Potential Accounts (HPAs) •High Efficiency Accounts (HEAs) •High Leverage Accounts (HLAs) •customer segmentation •costing rules •business analytics •Randy MacLean •distributor sales analytics •distribution analytics •cost to serve analytics •NBC •NBC (Net Before Comp) •Margin vs NBC •customer profitability analysis •Bruce Merrifield •cost cutting •payroll efficiency •Merrifield Consulting •cost analysis •cost reduction •customer profitability •cost reduction analysis •profitability management •account strategy •profit metrics
Wednesday, April 10, 2019—There is much more to your costs that meets the naked eye. Taking a simple look at things, you can see the items that you make more or less money from overall. You can see which items are profitable according to margin.
However, with a deeper analytics-based look, you can see WHY and HOW products are profitable, around which you can construct a more educated and effective sales strategy. Margins can be deceiving, and you need more than that alone to truly understand what goes on in your business.
The way that people order is sometimes even more significant than WHAT they order. Small, frequent orders are bound to take up time and energy that could be spent elsewhere, but large, bundled orders will save on valuable resources, giving you a greater profit, and the ability to offer better prices.
Most financial systems are not refined enough, and don't provide enough information to tell you the whole story of which products make you the most money. Margins are not related to profitability in any meaningful way, and in order to understand your profitability, you need to find a deeper, more intelligent analytical system to truly understand what to do, and how to do it.
For more information about Bruce Merrifield, visit: www.merrifieldact2.com
The 3rd of 3 lists defining the markers of Distribution companies outpacing their peers.
The 2nd of 3 lists defining the markers of Distribution companies outpacing their peers.
The 1st of 3 lists defining the markers of Distribution companies outpacing their peers.
Bruce Merrifield and Randy MacLean discuss the handful of key customers in your business, and how to keep them happy and loyal.
Randy MacLean explains the differences in business intelligence systems, and how to know what you're getting with each kind.
In-house analytics initiatives are prone to delivering ineffective information or to outright failure. Here's why.
2020 Q4 is the time companies can take great leaps in market position, actively shaping their competitive landscape for years to come.
The top business know not only how to innovate, but where to spot opportunities where innovation will bring the greatest results.
See how implementing LIPA can give you the bandwidth to be more accommodating to your customers with analytics-based service excellence
Customer triage is key to profits in Distribution. Randy MacLean share the key elements of costing required to help you assign the right service level.
Companies are developing more and more sophisticated approaches to sales compensation and here Bruce Merrifield and Randy MacLean examine the trends.
Use profit analytics to help drive radical profit gains by balancing volume, margin and service costs for every account, doubling and tripling territory profits
Waypoint Analytics uses line item profit analytics to dig deep into the numbers, and Waypoint users learn both bad news and good news about their customers.
Randy MacLean and Bruce Merrifield of WayPoint Analytics discuss profit value-based customer segmentation.
Many naturally occurring, high gross margin percentage accounts and high gross margin percentage SKUs are operating profit losers.
A discussion of the benefits of segmentation and how this approach can help distributors achieve far greater levels of profitability.
Top companies like Amazon can leverage big data to predict consumer buying habits. Bruce Merrifield discusses how you can do this too!
Most distributors have naturally occurring, high gross margin percentage accounts and high gross margin percentage (small dollar pick) SKUs.
Here is a case study in which the lowest gross margin percentage niche was the most profitable and the highest gross margin percentage was the loser.
Continuance of the Enterprise Account Selling Model video series. Refers to a preceding video. Drawn from Bruce's presentation at APIC on March 1, 2016.
A continuation of the discussion between Bruce Merrifield and Randy MacLean over Bruce's Enterprise Account Selling Model (part 2).
Bruce Merrifield and Randy MacLean discuss Bruce's Enterprise Account Selling Model, as presented at APIC on March 1, 2016.
Using the negotiation process to achieve CTS savings, allowing you to offer your customers lower prices while leaving the table with a larger profit.
Customer whale curves are a great opportunity to view the overall picture of your customer profitability and apply appropriate sales models to each
Bruce Merrifield discusses the Wheel of Learning and how this simple tool can catapult you forward with innovative thinking.
This video by Bruce Merrifield and Randy MacLean describes why you can't rely solely on gross margin to determine profitability.
An in-depth look at some historical limitations to sales compensation, and why those factors no longer apply with the availability of LIPA.
Randy MacLean discusses the value and utility of segmenting your customer accounts.
What to do with your top accounts.
A fixation on gross margin – without looking at cost-to-serve (CTS) – has blinded countless distributors and limited their ability to achieve profitability.
See why your most profitable 200+ items are typically popular commodities with lots of picks for lots of customers with a high average sales dollar per pick.
Learn how this distributor was able to massively ramp up its profitability even as it lost many of its customers.
Learn why distributors can't simply rely on gross margin when determining whether a sale will add to the bottom line.
Randy MacLean talks about the emergence of a new sales strategy.
A discussion on how little extras can sometimes add up to a lot of infrastructure cost in wholesale distribution companies.
Learn how to boost your company innovation IQ by adopting the Anti-Nitpick Rule and the Wheel of Learning Tool.
Randy and Bruce explain why it's important to optimize inventory in the same way you optimize personnel and other resources toward the best profit opportunities
Randy discusses the benefits of the extraordinarily valuable High Volume Account Report.
A discussion of the perils of a cookie cutter approach when it comes to sales and service in the wholesale distribution industry.
Bruce Merrifield of WayPoint Analytics teaches the importance of customer segmentation and the insights it can offer your distribution company.
Have you had trouble conveying the importance of CTS to your team? Learn how this course provides an affordable and convenient educational solution.
What is the value of the APIC conference for a business, and why does it stand out above other education programs?
Bruce Merrifield and Randy MacLean discuss profit strategies for wholesale distributors that will raise their cost-to-serve and profits.
Webinar: Quantum Sales Compensation Plan Part 2
Webinar: Quantum Sales Compensation: Designing Your Plan