InsideTrack’s newest feature makes it easy for operators to quickly calculate the amount of product they will need to have on-hand in order to reopen their operations.
Look for InsideTrack’s COVID-19 Resource Center widget in the bottom-right corner of your home dashboard screen. The COVID-19 Resource Center links to two resources: the Coronavirus Operator Support Center, which contains a plethora of information to help operators uncover products, ideas, guidance and access to FAQs, and the Reopening Forecast Calculator, which assists with placing initial orders for food and supplies as operators seek to reopen.
The Reopening Forecast Calculator helps operators forecast their first order quantities based on historical spend and estimated cost and profit by location, while factoring in Expected Gross Sales, Food Cost, Alcohol Cost, Payroll Cost and Overhead Costs.
Calculator Inputs:
Baseline Month – Select the month for baseline purchase quantities for calculating a reopening forecast
Expected Revenue – The percent of expected sales for reopening month
Food Cost – Percent of revenue that is spent on food purchasing
Alcohol Beverage Cost – Percent of revenue that is spent on alcohol purchasing
Payroll Cost – Percent of revenue that is spent on payroll
Overhead Cost – Percent of revenue that is spent on overhead (i.e. rent, utilities etc.)
Distributor Analysis – Breakdown of items and spend by distributor Opco
Functionality:
The calculator will generate a spreadsheet that contains information regarding multiple locations separated out by individual tabs. InsideTrack operator clients can then enter their current inventory levels into the spreadsheet for recalculation of order amounts. Estimated profitability is also calculated.
Share/Export:
The share button can be used to export the detailed order guide information on all products broken down by location or for a specific location to a spreadsheet for review.
Our goal is to help our clients as much as possible as they navigate the tricky terrain of getting ready to reopen their operations. Please get in touch if you’d like to set up a custom demonstration of this feature or if there is any other way we may be able to assist!
