ETD: 730 Wireless Technology; Inventory Turns or Days Based on
Net Sales; Bespoke Solutions Ltd; Trade Shows; Australian Trade
Magazine
E-Tailer's Digest
etd_post@gapent.com
Thu, 16 Oct 2003 08:40:09 -0400
E-Tailer's Digest --- Everything for the Retailer
Issue #0730 October 16, 2003
George Matyjewicz, Moderator mailto:georgem@gapent.com
Published by: GAP Enterprises, Ltd. http://www.etailersdigest.com
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CONTENTS
[1] Greetings
[2] Wireless Technology
[3] Inventory Turns or Days Based on Net Sales
[4] Bespoke Solutions Ltd
[5] Trade Shows
[6] Australian Trade Magazine
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[1] Greetings.
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Hi All:
I'm in Atlanta getting ready for the closing tomorrow. In answer to some
queries about the sale, we got the price we asked for. It was the St
Joseph's statue.
Tuesday I will be in Boston conducting a Galileo/Magique user
conference. If I run into internet connection issues, let me apologize in
advance.
Today we have some comments on questions in the last digest - wireless
technology and inventory turns. What do you think?
If you do business globally, you may want to consider writing an article in
Australian Trade Magazine. They published one of ours and it did attract
inquiries.
What trade shows are you doing this quarter? Let us know what works for you.
And our favorite Bermuda retail guru has provided us with information about
his business, which will be at our site for posterity at our "Members:
Who Are You?" http://etailersdigest.com/resources/members/index.htm And
we have a form there for you to tell us about you. As I said when I first
proposed this idea, we have "known" each other for a long time, yet we
often don't know anything about each other. So, tell us who you are and
what you do.
Now, let's get to everything for the retailer.
Sincerely
George Matyjewicz, PhD
Chief Global Strategist, GAP Enterprises, Ltd.
mailto:georgem@gapent.com
http://www.etailersdigest.com
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[2] Wireless Technology
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Our moderator asked...
> What about you? Have you gone wireless yet?
I've had two wireless set ups. The initial one was between my desktop PC
and an older notebook computer (vintage 98). That consisted of a PCMCIA
card in the notebook and a wireless adapter plugged into the USB port on
the PC. The combo was (probably still is) made by Adaptec, and was easy to
set up.
When I bought a new HP laptop with built in wireless this year, I decided
to add a third computer (all in the same room) to the network. So I got a
Linksys Router/Access point, and plugged two desktop PCs into that and then
use wireless to hook the notebook to the network. That works fine, too.
I haven't tried it any place where you can connect into a public network yet.
The one limitation in all of this is distance. There's a finite distance
the signal will carry. Perhaps one of the people with more tech knowledge
than I have can say what the distance is, and whether there is any way to
stretch the distance the signal carries.
--Janet Attard
Business Know-How -Celebrating 15 years helping small businesses online
http://www.businessknowhow.com
Subscribe to our free newsletter at
http://www.businessknowhow.com/newsletter/subscribe.htm
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[3] Inventory Turns or Days Based on Net Sales
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Re; Inventory Turns - to try and do the calculations at cost the following
must occur;
1) you take inventory at the known acquisition cost for each item.
2) you get your gross sales for the year - which will be at retail.
3) you must apply your Gross Margin percent that you get from your income
statement to the gross sales for the year to calculate its value at cost.
This is the problematic issue. The GM factor can be "fuzzy" for these kind
of calculations and hence not as accurate as the other actual cost of
inventory that you are using. This taints the result which you will then
apply another GM calculation against to come up with your.
The other method is to do all the calculations at retail. You know all of
your sales at retail - so that is not a problem.
You know all of your inventory at retail. The inventory should be counted
at current retail that represents any current markdowns that you might be
running. The calculation of dividing the years sales by the current retail
inventory keeps the result cleaner and more accurate in my view.
Joe Dweck
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[4] Bespoke Solutions Ltd
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Bespoke Solutions Ltd, a Bermuda-based company, offers AFFORDABLE
consultation services for small retailers. Assistance with e-commerce sites
that make money. Our's are not the lowest-priced services, but affordable
to a small retail operation.
My experience includes 40 years in the retail business working for both
large and small companies has given considerable expertise in buying and
merchandising of branded and Private Label merchandise and e-commerce. I
saw the need for affordable assistance for small retailers. Ad agencies and
design houses can make perfect web site but they do not have the customer
usability that retailers need and often lack the commercial back end.
Bespoke Solutions Ltd was started in 2001 and most of our customers come to
us by word of mouth. Our fees depend on services required. Most costs are
shown on our web site www.bespokesolutions.com
Richard Woolnough, CEO
Bespoke Solutions Ltd
Penthouse 501 12 Church Street
Hamilton, Bermuda HM 11
Tel: 1 441 295 0951
Fax: 1 240 368 4461
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[5] Trade Shows
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Is anybody going to the 94th Canton Fair in Guangzhou, China from October
25-30? It is the kick off for next year's giftware, and quite a show.
If not Canton, then what other show are/have you attending/attended? There
are 53 giftware shows in October; 22 apparel; 317 home furnishings. Check
out shows in your industry http://tsnn.com/
In some industries, shows are the only way to sell products. Buyers come
to shows, view the offerings and place orders. So you have to exhibit,
or, if a buyer, you have to go. In other industries, they are a waste of
time for an exhibitor. How do they work for you?
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[6] Australian Trade Magazine
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We have released a new section in the Australian Trade Community Magazine,
called "Export Innovations". If you have an innovation, product or service,
that is destined for the Export market, or is being exported at present and
you would like to promote it, we have 57,000 business subscribers out
of which one or two might see a mutual business interest.
You are invited to send in editorial for any of the Magazine's sections, we
are looking for material such as: News, Articles, Stories, Press Releases,
Letters to the Editor, or even short pieces like case studies and Industry
events; AND, electronic images like JPGs, for possible entry into the next
issue, November 2003. There is limited space, not all contributions will
get in, but if you believe it will be of interest to our readers, there is
a good chance of material being accepted; good PICTURES also help stories
get in.
The final date for editorial submissions is the 21st October 2003; aim for
completion is 3rd November 2003; all advertising must be in by 24th October
2003. Please send your images and editorial to:
editorial@australiantradecommunity.com for as soon as possible to avoid
missing the deadline, thank you.
If you go to the new front page of the ATC Magazine website:
http://www.atcmagazine.com you can see the contents of the latest issue.
This will be the new format.
Sincerely,
Alec Ellis, Editor
The Australian Trade Community - Magazine
3/71 Dundas Court,
Phillip ACT 2606,
Canberra, Australia
Tel: +61 2 6282 0629
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