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

#1 Assuming they will ‘eventually’

catch up and be fine

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

STEP 1:  If you agree with the New Item 3X strategy,

tell your team and help them make time

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