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NEW ITEM EXCELLENCE
TREK #1
GOAL:
Ruthlessly eliminate complacency that hinders New Item Excellence
CATALYST APPROACH: 3X
To commit to new item success, invest at
least 3X your time invested in new items compared to the rest of your portfolio.
So, if 5% of your items are new, at least
15% of your item focus should be
invested in new item management.
Many of us consistently under-perform in this critical area. &
Very few leaders push for
New Item excellence.
WHY?
COMMON
PITFALLS
PREPARE FOR SUCCESS:
1 DETERMINE YOUR TEAM
New item excellence is as much about collaboration as your components
2 SET YOUR INITIAL COMPONENTS
The guidance below is designed to provide the best start possible
MR FRIENDLY'S COMPONENT GUIDANCE
NOW MEASURE & ADJUST
fRANK vAN vLECK
3 NEW ITEM TOP 20 EXCEPTIONS
Daily P-T-D Views
Click to view Live Sample Chart
4 PERIOD END DASHBOARDS
Comprehensive analysis
Click to view Live Sample Dashboard
New Items Are..
5%
Of Total Items
Making Up..
8%
Of Total Inventory $
Driving..
3%
Of Sales Revenue $
And Achieving..
89%
Service Attained
WHAT ARE YOUR NUMBERS TELLING YOU?
NEW ITEM DEMAND DEVIATION
START SMART
DEMAND-DEV
Why start every item with a default deviation (madp) of 20%?
You know faster movers will be low, and slower movers will be higher?
Why not simply print YOUR average numbers and use those as a starting point when launching a new item?
To the left is one company's example.
TIPS FROM THE COMMUNITY
CHAMPION
3TODO
TOOLBOX
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