JUN 2013

DAYSPA is the business resource for spa & wellness professionals! Each issue covers the latest in skin care, spa treatments, wellness services and management strategies.

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PROFIT CENTER General Ledger Service Categories were coded correctly (using random codes as in the ledger example on the right), the total amount of the order of 12 boxes with a cost of $3 each would have resulted in a general ledger entry of $9 to department 820.01 and $27 to 820.03. Now that you've identified and accounted for brands and quantities, turn your attention to internal Professional Products (Code 820.) Retail Products (Code 650.) Nails .01 x x protocols for ordering and Massage/Body .02 x x handling products. The Skin Care/Waxing .03 x x key here is that speed is Makeup .04 x x money; the faster you can recognize you are low on General Supply .05 x x a product, order it, receive Spa Retail .06 x x the order, open the box are so important; relying on the "old and get the product on the shelf to school" ordering methods of wansell, the higher your revenue and the dering the retail area with pad and lower your costs. This is why systems pen in hand does not yield the best results, as it is easy to overlook an item, or to not understand how a particular SKU is trending. Accuracy and speed in the cycle are your keys to higher profits. SWEAT THE SMALL STUFF! ECHO2 Plus The Oxygen Treatment OXYCEUTICALS™ Oxygen Acne Treatment System Toll free (800) 592-3246 or visit us on the web at Distributors worldwide • Use FreeInfo #63 114 DAYSPA | JUNE 2013 The finer points of inventory management can make all the difference. Consider the following: Timing Don't place your orders on Monday or Tuesday if this means you'll receive them on a busy Friday. Chances are those products will spend the weekend in a box on the floor instead of on your shelves making money. The longer the limbo between when you receive the actual shipment and when the products are ticketed and placed on shelves for sale, the higher the likelihood they will encounter any number of fates: being misplaced, damaged or even stolen. The shorter the cycle between placement of the order and presence of the product on the retail shelf, the lower your inventory costs. Paper trail Whether you use purchase orders generated by hand or via software, make sure that when a shipment is received, the person who opens it can retrieve the packing list and compare its contents to the original order. Receiving items that were not ordered throws a wrench into the proceedings; the SKUs and pricing may not exist in your software, or if the products are not on the purchase order you may not be able to digitally receive them. Stocking protocols Both

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