Getting started with Profit Expert
Profit Expert helps you optimize your brand alignment so that you can make the highest overall profit possible without selling a single additional tire. By looking at your sales history, and learning from you what brand programs you participate in or are considering, we can make recommendations for shifting tire sales to an equivalent tire in another, more profitable brand.
This video will give you a high-level overview of the different pages in Profit Expert. Watch the other videos to learn how to generate recommendations in the tool.
This page is where you will select the store you want to get recommendations for. When you choose a store from your stores list, we will automatically populate the sales. From there, you will be able to choose the brands you want to participate in, and product a recommendation.
The program preferences section of Profit Expert gives you the freedom to indicate whether you are participating with a brand program through ATD, through another distributor, or not participating at all. On top of that, users can choose which brands they want to consider. When you select that you are considering a program, it’s entered into the optimization algorithm and becomes an option for you to switch to, but only if it will produce more profit.
Choose the brand programs that you are willing to consider, and then move on to your brand preferences section. Remember, this section is meant to help you explore the possibilities of new brands, so consider new programs freely.
The brand preferences section of Profit Expert helps you have more influence over the recommendation by allowing you to decide which brands you want to sell more or less of. By choosing grow (sell more), decrease (sell less), lock (sell the same number as last year), or auto (let the tool choose what ever is the most profitable choice), you can choose what you want to happen on a brand-by-brand basis.
This video will show you where the options for your brand preferences are in Profit Expert. After you have chosen your brand preferences, you can go to the results tab to produce the recommendations.
The results page in Profit Expert is where all recommendations are made. The additional potential profit figure at the top of the page is the measure of the amount of profit you could make in addition to your current business if you implement all recommendations. You will see some high level changes that should be made towards the top of this page, and more detailed information towards the bottom of the page, including an optimized sales mix. This page tells you the specific style shifts you need to make in order to run a more profitable business; we are looking for highest overall profit, which comes from maximizing your front-end margin and back-end manufacturer benefits.
Torqata recommends that you experiment with Profit Expert. See what changes you can make to drive a higher potential profit number, and then see the specific moves you should make to get to that number.