Nomeco has lifted turnover and earnings with ABC
Head of product and data management, Nomeco
“I’m very surprised at how great an impact using double ABC has had on our category management. We’ve cracked the code as to how we can raise both earnings and turnover (…)”
Nomeco delivers a wide range of non-prescription and prescription goods to Danish pharmacies, acts as a wholesaler to pharmacies and as a warehouse to pharmaceutical manufacturers. Dorte Taunø has been with Nomeco since 1986, and is head of product and data management.
Nomeco have surprised themselves. In one year, the company has increased its turnover by 9.2% and its profit by 9.8% across 40 product categories. The recipe is targeted and intelligent work with data analysis of product turnover and profit – a recipe that many other companies should adopt.
Revenue increase by +9.2% in one year
Earnings increased by +9.8% in one year
Intelligent category management
ABC’s analyses of Nomeco’s 40 product categories make it easier to increase the profitability of the existing range in a targeted way and to ensure satisfactory profitability for new products. Thus, all categories are continuously optimised and profitability remains high.
ABC is used as a proactive tool for creating growth and ensures very accurate coverage of pharmacy needs, while Nomeco optimise their turnover and profit by shifting products towards a more profitable range.
Through a targeted and intelligent effort using data analysis of goods turnover and earnings, Nomeco now has documentation for everything, which it uses to demonstrate the placement of the products to suppliers to ensure that dialogue is value-adding.
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