Product Profitability Analysis Checklist

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Product Profitability Management:

• Identify which products and product groups have the highest and lowest margin;
• Study revenue trends (whether product revenue increases, decreases, or remains stable) to indicate current and potential problems – product threats on the market, sales standstills and underperformance, etc;
• Rationalize products and product groups (see this Product Rationalization Checklist);
• Optimize distribution methods reasoning from the costs and net profit you obtain in different locations and market segments;
• Find out which products and product lines are at risk of income deficiency (also investigate why this happens);
• Evaluate profits that can be earned from available cross-sell/up-sell opportunities;
• Control number of units sold (sales volume), market growth, and revenue by customers;
• Continuously review customer demand, and evaluate worth of your competitive advantages (when worth of competitive advantages objectively decreases it is time to consider additional investments into raise of your product’s competitiveness);
• Regulate pricing policies to prevent standstills in product sales, and ensure the best level of product demand (use promotional activities, different marketing opportunities, etc);

Conduct Product Costing Analysis:

• Specify cost of goods sold (COGS);
• Control material consumption costs per unit of ready product;
• Determine and control labor costs involved to create a unit of ready product;
• Optimize costs of logistics, transportation, warehousing, and other direct costs;
• Control overhead costs (electricity, space and equipment rent, service water, etc);
• Determine costs of product marketing and promotion per unit sold;
• Define average sales price per product unit sold;
• Regulate product development costs, including staff and IT expenses;
• Summarize discounting amounts and percentage;
• Regulate customer support costs;
• Calculate quarterly product profit (or loss);
• Calculate royalties paid on revenue and units sold, and royalties unrelated to sales;
• Figure out Gross Sales......

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