I have published another video to help newsagents better manage magazines. How to Better Manage Magazines in Your Newsagency looks at how to use a Non Performing Titles Report and a Magazine Sell Through Rates Report to better manage the quantity of magazines in your store. While designed for the 1,700+ newsagents using Tower Systems’ newsagency software, the video should be of interest to other newsagents as well. Click here to play the video.
Magazines are vitally important to our businesses, for the short to medium term especially. However, newsagents need take steps to control their exposure if they are to be held responsible for paying the distributor bills on time.
Related videos: How to Drive Basket Efficiency in Your Newsagency and How Disruption of Print Media Will Affect Newsagents.
Mark I am surprised you don’t mention the early returns on arrival function. The problem with reports is its after the fact. You can’t change the system because the distributors wont allow it, so play them at their own game and judge a title on its merit using the information provided at the time of arrival. You save on puting it out, you save on clutter on shelf, you save on reduced shrinkage thru theft and you save on time finding it at time of return. I use this function all the time and it helps me control my mags statements to equal my cost of goods sold for the month.
Bill, this video was designed to help newsagents understand the sope of their problem. I am concerned that many newsagents accept over supply as part of what happens.
I agree, early returns, when done carefully and using your business data, are essential to managing magazine cash flow.