Retail KPI, How you will improve EBITDA, How you will improve business efficiency

Question

Accepted Answer

To improve EBITDA and business efficiency, I will focus on optimizing inventory management, reducing operational costs, and increasing sales through targeted marketing strategies.

Implementing a robust inventory management system to reduce stockouts and overstocking
Negotiating better deals with suppliers to reduce procurement costs
Streamlining operational processes to reduce wastage and improve productivity
Investing in employee training and development to improve customer service and sales
Developing targeted marketing campaigns to attract new customers and retain existing ones
Analyzing sales data to identify trends and opportunities for growth
Monitoring and tracking key performance indicators (KPIs) to measure progress and identify areas for improvement

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The key to improving your EBITDA is by making sure you’re focused on both minimising spend and maximising revenue - to improve your overall profitability.

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Better customer satisfaction and proper advertisement with stock and schemes to be given to each customer

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Need to control stor experience and talk to tha staff in stor target was achieved and control the srinkage in stock

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Improving ebidta from kpi by costing, inventory turnover, budgeting etc. Also main thing customers touch points should be strong as relationships will get better with customers.

Accepted Answer

basically store EBITDA depend on store location and customer conversion,store crying inventory ,staff knowledge,Store Rent , logistics cost ,Store cost , electricity charges thease all things under SM hand how to managed .

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1. **Sales Growth**: Increasing sales through targeted marketing campaigns, expanding product lines, or improving customer service can positively impact EBITDA.

2. **Cost Control**: Implementing cost-saving measures such as renegotiating supplier contracts, optimizing inventory management, or streamlining operational processes can enhance EBITDA by reducing expenses.

3. **Inventory Management**: Minimizing excess inventory and ensuring optimal stock levels through data-driven forecasting can improve cash flow and operational efficiency.

4. **Labor Productivity**: Optimizing staffing levels, training employees to improve productivity, and implementing scheduling software can help reduce labor costs while maintaining service levels.

5. **Customer Experience**: Enhancing the customer experience through personalized service, seamless omnichannel integration, and loyalty programs can drive repeat business and increase profitability.

6. **Technology Integration**: Leveraging technology solutions such as POS systems, inventory management software, and data analytics tools can improve operational efficiency and decision-making.

7. **Supply Chain Optimization**: Strengthening supplier relationships, optimizing logistics processes, and exploring alternative sourcing options can reduce lead times and improve margins.

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For better KPI we have to maintain our Unit per transaction and the conversation .

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Improving retail KPIs involves analyzing metrics like sales per square foot, inventory turnover, and customer retention. To boost EBITDA, strategies could include optimizing pricing, reducing costs through efficient operations, and increasing revenue streams such as upselling or cross-selling. Enhancing business efficiency can be achieved by streamlining processes, implementing technology for automation, and investing in employee training for better productivity.

Accepted Answer

1)Customer Service & feed Back
2)Staff Training ( Cordinate set,Non aap add every bill, Cross Selling )
3:-Keeping some RNR for staff when big Sale is made
4:-Telling and asking MTD als well as week wise .

Accepted Answer

Retail kpi target and achievement and conversion&Atv&basked size&Spf and other kpi in formula

Accepted Answer

Need to work on your unwanted expenses like doing a permanent solution, Work on your losses and try to sell your high-margin article. And plan to drive sales of single article quantity daily for rev...

Accepted Answer

Need to work on your unwanted expenses like doing a permanent solution, Work on your losses and try to sell your high-margin article. And plan to drive sales of single article quantity daily for rev...

Accepted Answer

Need to control store expenses and talk to tha staff in store target was achieved and control tha srinkage in stock

Accepted Answer

Kpi Improve Look for higher growth from category wise sale and focusing on gaps

2 work on KPI

3 Refusing Operation cost

4 training of staff to increase sales and customer experience

Accepted Answer

1:- Customer Service

2:- Staff Training ( Cordinate set,Non aap add every bill, Cross Sale )

3:-Keeping some RNR for staff when big bill is made

4:-Telling and asking MTD, week wise and previous day's KPI to the staff in the morning meeting.

5:-Customer calling

6:- cantrol Store expenses

7:-Staff par head Target

8:-Giving targets on quantity basis and giving some RNR to the staff who achieve them.

Accepted Answer

Look for higher growth from category wise sale and focusing on gaps

2 work on KPI

3 Refusing Operation cost

4 training of staff to increase sales and customer experience

Accepted Answer

Streamlining operational processes to reduce wastage and improve productivityDeveloping targeted marketing campaigns to attract new customers and retain existing

Developing targeted marketing campaigns to attract new customers and retain existing ones

Accepted Answer

Provide a flat discount to the all the consumer atleast kpi would increase and that would have effect on ebitda for atleast for the running quarter

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Direct conversation with customer and know what they actually demand to be in the store let me know them the various offers of every single day which will definitely attract them towards buying our products I am damn sure that will definitely improve the sales

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for improve EBITDA , I’ll brief to my team about MTD, YTD separately set a target for team and maintain the atmosphere according the team for there betterment..

Accepted Answer

Increase sales

Increase sales by training and motivating the staff to give proper customer service, upsell and cross sell.Utilise the best promotional inventory to put attractive displays and which will automatically sell by putting a POP(rate card) and assign targets to all staffs even to cashiers to sell products. "When sales increases by default our EBITDA will increase".

Keep profit margin on check

Each and every product will have it's own profit margin, you should have an effective sales plan to increase your margin, by selling more products which give high margin, and should control markdown(reducing price of a product due to damage caused to a product) losses.

Controlling losses

Control losses by monitoring the daily data, identify the reason - it can be excess inventory, rodent issues, manpower issue, temperature issues and improper indenting issue. Identify the issue and put a plan to control the losses.

Using marketing effectively

There will be loyal customers coming often to buy, but to pull the other customers' there should be an effective marketing strategies should be used. Mostly reliance marketing team will be handling this part, but executing it brilliantly will be our job. By pulling the crowd our sales will be up.

Have an eye on expenses and utilities

To an certain extent, we can control some part of our expenses.

Expenses which is manageable is maintenance cost, electricity(switch off the power/light when not in use), diesel for generator, day to day expenses like tea, stationaries, delivery charges, etc can be controlled by us.

Effective manpower planning

You can let go people without commitment, if you're having handy people who can work, then reduce the manpower cost.

Optimize inventory

You need to know what will sell and what will not, ultimately people will buy what they need and will not buy what we have.

Based on the footfalls, predict the quantity which will sell based on the necessity and demand(can be seasonal too) and get the inventory, only then things will sell.

These are all things which will be under our control to increase our EBITDA.

There are other factors which will be controlled by our superiors, where we will not be in a position to decide, rather we can only suggest them our ideas, which be welcomed by our superiors.

Accepted Answer

To improve our business first of all we do more than then previous and also observe how our economical graph 📉 getting lose to do better and also remember that how public can demand.

Accepted Answer

Any interview in hindi lauange.

Accepted Answer

brief team store MTD,YTD, control store expenses, achievements store Target

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Need to control store Expense.

Identify High benifits article and work for increase the sale.

Accepted Answer

Need to work on your unwanted expenses like doing a permanent solution, Work on your losses and try to sell your high-margin article. And plan to drive sales of single article quantity daily for revenue gain.

Retail KPI, How you will improve EBITDA, How you will improve business efficiency

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