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MEGA Report - Obsolete
This powerful worksheet shows all Obsolete classified SKUs in all your stores. These items have not had any action (add, purchase or sale) in over two years and (along with Overstock SKUs) make up your Unproductive Inventory (Productivity Level 0) metric. This worksheet works in tandem with Mango's Closeout Management system to help you identify and then manage a markdown strategy to intelligently and effectively close out these SKUs inline.
2 important columns
G - Chain Carried %: the percentage of stores carrying the SKU (i.e. 3 of 4 stores carry this SKU, 75%)
H - Chain Obsolete %: the percentage of obsolescence in stores carrying the SKU (i.e. SKU obsolete in 1 of 3 stores, 33%)
Using this list for Closeout Management: If you would like Mango to manage the markdown for these SKU then:
E - Loc 2: listed if a SKU has a location listed under Location 2 in IMU. MDR means the SKU is being actively closed out by Mango's Closeout Management process, XDR means the SKU has been reviewed by someone in your store who decided to close it out but not mark down its price via Closeout Management. F - Discovery: Indicates if the SKU is in a Discovery Assortment. Many stores choose not to close these SKUs out in case a discovery level reset would require a repurchase.
H - Chain Obsolete %: the percentage of obsolescence in stores carrying the SKU (i.e. SKU obsolete in 1 of 3 stores, 33%) Q - Ext Avg Cost: This the SKU's quantity on hand or QOH (column G) multiplied by its Average Cost (column K). You can format this column as currency in Excel for better readability. Your list is sorted by this column in descending order to show the most impactful SKUs first. R - Last Physical: This is the last date the SKU was counted. These SKUs appear as a XX (double X) count type in your monthly Mango Count Sheets. As your store processes its Count Sheets, the physical existence of these SKUs in your store. S - Collection: indicates if this SKU is part of a collection of SKUs like numbered drill bits, sockets, O-rings, etc. These SKUs may be part of a fixed assortment and therefore may not be good closeout candidates. You can filter on this column to exclude these SKUs. U - Store Closeout: indicates if the SKU's Store Closeout flag has been set. V - Discounted: indicates if the SKU has been initiated into Mango's Closeout Management process. W - Promo: shows the SKU's current promotional price X- Date Reported: the first time the SKU was reported on the Obsolete list Y - Dept: the SKU's department as indicated in your Eagle system. Z - Eligible: indicates if the SKU is eligible to in the Closeout Management system. Quickly removes ICM, Discovery, Collection, and SKU already in your closeout promotion file. AB - Injected: indicates if the SKU is a true Obsolete No = no sale, purchase in over two years, or YES = manually injected by entering MDR in a SKU's Location 2 code and setting its Store Closeout flag to Y. AC - In Season Next Month: lets you know if a SKU is coming into season next month. For example. In October's report, you will see Christmas as "Yes" so you initiate closeout in October (set Loc2 = MDR and Store Closeout = Y) so that the SKU can start its markdown sequence in November. ICM Section: you can use the ICM columns below to make sure an Obsolete SKU's closeout process does not activate a re-order of a similar SKU (if desired). AD- ICM SKU: indicates if the SKU has a pending ICM (inventory change management) that may order once the Obsolete SKU sells. AE - ICM Store Closeout: shows the pending ICM's Store Closeout flag in your Eagle system. AF - ICM QOH: shows the current quantity-on-hand (QOH) of the pending ICM SKU. AG- Mfg Vendor Number: shows the manufacturer vendor number and description for the SKU. AH - Transfer Stores: (multi-store) shows other stores that might be able to take the SKU. The transfer to stores needs to have 12-month sales history and be able to sell through its inventory and the additional transferred inventory in at least two years.