A newsagent who had not early returned, who had left the magazine distributors to manage their supply, discovered more than $12,000 in cash tied up in gross magazine oversupply. These were mainly titles supplied which never sold. This was a terrific discovery as it provided evidence on how magazine distributors behave when left in control of supply. Well, they misbehave. $12,000 worth of stock was removed for early return based on conservative guidance. Had the culling been in line with what I would recommend, this store would have early returned closer to $16,000 in magazine stock.
For years magazine distributors have been great with words and weak on action. We continue to pay the price.
Mark i know a newsagent that has drawa filled with excess stock i could not believe it when i was talking to him one day about it and he opend his draw under the AWW cook book display to show me how much stock he recieves , i send bugger that early return it and his comment was it is to hard . The problem is he has no pos system and he does not want to early return them by filling it all out manually , i wonder how many others are like this
Too many Shaun. Newsagents who leave magazine management to the distribution companies get shafted.
During the early years in this business I nearly went broke and suffered a heart attach stressing over how to pay the bills until I an experienced newsagent advised me about early returns. I had never really understood this during training. I suddenly found I had the money to pay my bills sitting on the shelves and under them. I still struggle to find the time to adequatly control magazine stock though.
Shaun, does this agent have the internet?
If so, he doesn’t need a POS system, just an online account with the distributors.
That’s how we did it without any newsagent-specific software at all.
Y&G Very limited ability for the internet , one of those agents that never went for change i suppose .
True you can do it online , i have only ever did that once and the folowing week i orderd the pos system not wholely for the returns but dammm it made life a lot easier than typing every return in . 2 years ago i showed this particular agent how easy it is when you just go beep with a scanner gun and in the box they go . within a half an hour i would have all 3 supliers done completed in boxes ready to go , he told me it would normally take all day for him to do it .
2 years later and he still does not have anything no pos and not confident enough to do it online , i have even offerd to help him out and show him how to do it .
Most newsagents when they switch from manual unlock thousands of dollars in dead stationery stock and cut thousands of dollars in labour costs. While you can load returns onto their websites, genuine magazine management only comes from a good computer system.