Roadmap Analysis. 2. Put a question mark next to any line or items you may have questions about, or need
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1 Roadmap Analysis Company Name Step 1: Review Your Trends A. Review your 3-year Balance Sheet and Income Statement Spreadsheet 1. Next to each line, put a + for a positive trend (ie: sales increasing or costs decreasing as a percentage), or a for a negative trend (ie: sales going down, costs going up). 2. Put a question mark next to any line or items you may have questions about, or need to get additional information. B. Repeat the process with your 3-year Benchmark Ratio Report 1. Next to each line, put a + for a positive trend, or where you are above the industry benchmark, or a where the trend is down, or you are below the industry benchmark. 2. Put a question mark next to any line or items you may have questions about, or need to get additional information. Step 2: Summarize What You Find Summarize your top positive and negative issues and questions from parts A & B in Step 1 to the chart below: + Things I have questions about Step 3: Find the Dollars! Take out your Road Map. Review your minus column items and locate them on the Road Map. Follow the arrows back up to determine the causes behind the issue. Then, calculate how many dollars this item may be costing you, using the attached worksheets.
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3 Step 4: Add up the dollars and put them on your Road Map ISSUE CASH IMPACT PROFIT IMPACT Inventory $ $ Accts. Rec. $ $ Gross Margin: $ $ -No discounts -Productivity -Inventory Controls -Poor Buying -Poor Pricing -Poor Bookkeeping Overhead Controls $ $ Hidden Costs $ $ Misfinancing $ $ Other: $ $ $ $ TOTALS $ $ Step 5: Set Targets and Develop Action Plans 1. Using your Goal Worksheet, set target numbers for Sales, Gross Margin, Productivity and Cash Flow 2. Determine your top 3 Management Issues 3. Develop plans of action. Use the SMART goal setting system: Specific Measurable Aggressive Realistic Timeline For example: My goal is to improve my gross margin by three percent by the end of the 3 rd quarter next year. I will measure my progress on a monthly basis both storewide and by department. I will review pricing policies with my staff and pay commissions based on margins, not sales. I will review my inventory by department and determine which price points have sold in the past. I will also get advice on my pricing policies from industry experts.
4 Working Capital Cycle Improve Cash Flow and Profits Worksheet 1 Inventory Turns 1. FYE or Annualized COGS $ 2. Actual Inventory from Balance Sheet $ 3.Turns (COGS Inventory) a. Actual b. Industry (Goal) A. COGS / Industry Turn (#1 #3b) $ = $ B. Extra Cash tied up in Inventory Inventory on Hand (#2 above) $ (less) Inventory Target (#A above) - Excess Inventory $'s (at industry average or goal level of performance) $ Accounts Receivable Turns 1. FYE or Annualized Sales $ 2. Actual A/R from Balance Sheet $ 3. Turns (Credit Sales A/R) a. Actual b. Industry (Goal) A. Sales / Industry Turn (#1 #3b) $ = $ B. Extra Cash tied up in A/R Accounts Receivable on Hand (#2 above) $ (less) Accounts Receivable Target (#A above) - Excess A/R $'s (at industry average or goal level of performance) $
5 Profit Potential Improve Cash Flow and Profits Worksheet 2 Gross Profit 1. Annualized Sales or FYE Sales $ 2. Industry (or Goal) average GPM % 3. Company's GPM % (If industry GPM is greater than company's GPM) A. Industry GPM Company GPM % % = % B. Line A. percentage x Annualized Sales (#1) % x $ = $ * *Represents increased $'s of Gross Profit you would realize on an annualized basis if you were to achieve a margin equal to the average of the industry or at your goal. Net Profits Inventory Hidden Costs 1. Excess Inventory $'s from Worksheet 1: $ 2. Hidden Cost Factor "HC" (20% 36%) % HC (#2) x Excess Inventory $'s (#1) % x $ = $ * *Potential Hidden Costs incurred at current level of inventory management inefficiency Accounts Receivable Hidden Costs 1. Excess A/R $'s from Worksheet 1: 2. HC Factor HC (20% 36%) % HC (#2) x Excess A/R $'s (#1) % x $ = $ *Potential Hidden Costs incurred at current level of A/R management inefficiency
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