A test program developed by the Magazine Publishers of America hopes to uncover the fundamental requirements of scan-based trading Scan-based trading (SBT) or Scan based trading is the process where suppliers maintain ownership of inventory within retailers' warehouses or stores until items are scanned at the point of sale.
Magazine publishers are looking to scan-based data gathering to help improve single-copy sales efficiencies and ultimately profits in the category. Through the Magazine Retail Advisory Council (MRAC MRAC Musée Royal de l'Afrique Centrale (French)
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MRAC Model-Referencing Adaptive Control ), a group formed by the Magazine Publishers of America (MPA MPA
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The objectives of the pilot test include assessing the reliability and integrity of scan data, determining the accuracy of the SBT identification of each issue sold, and identifying and measuring the savings from SBT throughout the supply chain. The test will also measure and document shrink by title, issue and store, as well as identify the next steps for the pilot, which could be recommendations for process improvements and reducing shrink.
Retailers have long complained that they do not have accurate ways of tracking magazine sales, either as a category as a whole or by specific titles. They say that without a proper way of monitoring sales they are often left without guidelines guidelines,
n.pl a set of standards, criteria, or specifications to be used or followed in the performance of certain tasks. as to what titles are selling the best in their stores. "Magazines is a category that really depends on sales results because different titles sell better in different stores because of customer demographics The attributes of people in a particular geographic area. Used for marketing purposes, population, ethnic origins, religion, spoken language, income and age range are examples of demographic data. ," says one magazine official. "It is extremely important that retailers and publishers join together to develop a vehicle that properly tracks sales."
MRAC officials say that scan-based trading, which includes the use of retail scanner data to create a market-driven supply chain, will enable retailers, publishers and distributors to synchronize See synchronization. the supply of magazines with consumer demand at the point of sale. It should also provide accurate information that can be audited and used to manage ongoing business relationships between trading partners.
The advisory group says the primary function of the pilot tests is to reveal a greater understanding of three critical issues: shrink, issue add-on code and data sharing The ability to share the same data resource with multiple applications or users. It implies that the data are stored in one or more servers in the network and that there is some software locking mechanism that prevents the same set of data from being changed by two people at the same time. . Each of these issues will aid in the strategic planning Strategic planning is an organization's process of defining its strategy, or direction, and making decisions on allocating its resources to pursue this strategy, including its capital and people. for SBT in the future.
However, officials with the MPA and MRAC emphasize that the testing is only a first step. "SBT is currently in its infancy infancy, stage of human development lasting from birth to approximately two years of age. The hallmarks of infancy are physical growth, motor development, vocal development, and cognitive and social development. and the magazine industry is a pioneer in developing a framework for testing," says Anne Finn, vice president-consumer marketing for New York-based MPA. "We understand that a limited number of retailers may have the ability to fully embrace SBT, but we are confident that it will be a major benefit for those trading partners who cooperatively implement it. The findings from the pilot test will help formulate formulate /for·mu·late/ (for´mu-lat)
1. to state in the form of a formula.
2. to prepare in accordance with a prescribed or specified method. the future framework."
MAGAZINES MAKE THEIR MARK Average signle-copy circulation for top ABC magazines, 2000 PUBLICATION AVERAGE AVERAGE % RANK NAME CIRC. 2000 CIRC. 1999 CHANGE 1 2 COSMOPOLITAN 1,844,728 2,022,039 -8.77% 2 3 FAMILY CIRCLE 1,802,235 1,845,439 -2.34 3 5 WOMAN's DAY 1,748,765 1,688,882 3.55 4 4 NATIONAL ENQUIRER 1,706,367 1,773,05 -3.76 5 1 TV GUIDE 1,611,628 2,052,852 -21.49 6 6 WOMAN'S WORLD 1,528,298 1,542,995 -0.95 7 8 PEOPLE WEEKLY 1,392,046 1,407,569 -1.10 8 7 STAR 1,356,636 1,463,037 -7.27 9 9 FIRST FOR WOMEN 1,286,159 1,313,578 -2.09 10 -- O, THE OPRAH MAGAZINE 1,242,078 -- -- 11 11 GLAMOUR 1,069,839 1,143,263 -6.42 12 10 GOOD HOUSEKEEPING 1,048,505 1,181,381 -11.25 13 17 MAXIM 986,576 660,206 49.43 14 12 IN STYLE 925,623 855,697 8.17 15 14 READER'S DIGEST 742,897 731,584 1.55 16 13 GLOBE 695,665 756,461 -8.04 17 16 TEEN PEOPLE 654,524 680,573 -3.83 18 15 SEVENTEEN 588,783 682,620 -13.75 19 21 REDBOOK 580,582 551,773 5.22 20 23 MARIE CLAIRE 577,669 523,823 10.28 Source: Magazine Publishers of America * 2000 * 1999