Retail Execution Acronyms That Everyone in the Consumer Goods Industry Should KnowBecome a retail execution expert!
Become a retail execution expert!
In the consumer goods industry, there are many acronyms used, and sometimes you may not understand all of them. At StayinFront, we are definitely guilty of using many acronyms, so let us help you stay on top of the key acronyms to ensure you are a retail execution expert!
Below are some of the top acronyms that we believe would be helpful to anyone in the consumer goods industry:
CG – Consumer Goods
Goods purchased and used by consumers rather than by manufacturers for producing other goods.
MSL – Must Stock List
A list of inventory of the goods or raw materials kept on the premises of a shop or business.
SOS – Share-of-Shelf
The total amount of space available in a store to display goods for sale, or the amount of space for particular goods.
DSD – Direct Store Delivery
A key method of selling and distributing products for a large variety of industries, such as food, beverage, home personal care products and wholesale.
Rep – Representative
An appointed person to perform retail execution tasks in store.
OSA – On-shelf Availability
The availability of products for sale to a shopper, in the place they expect it and at the time they want to buy it.
POS – Point of Sale
The time and place where a retail transaction is completed.
EPoS – Electronic Point of Sale
Any computerized system, which may include devices such as barcode readers, scanners and touchscreens which is used to record sales and control stock.
CRM – Consumer Relationship Management
Practices, strategies and technologies that companies use to manage and analyze interactions and data through the consumer lifecycle.
ROI – Return on Investment
The ratio between the net profit and cost of investment resulting from an investment of some resources.
SaaS – Software as a Service
Software as a service is a software licensing and delivery model in which software is licensed on a subscription basis and is centrally hosted.
SKU – Stock Keeping Unit
An identification, usually alphanumeric, of a particular product that allows it to be tracked for inventory purposes.
SOP – Size of Prize
The worth of an opportunity for your company when allocating resources to each task.
TCO – Total Cost of Ownership
An estimate of all the direct and indirect costs involved in acquiring and operating a product or system over its lifetime.
KAM – Key Account Manager
A Key Account Manager is assigned to a company headquarters to oversee the account team assigned to a particular account. This includes planning and managing the full relationship between a business and its most important customers.
FSDU – Free Standing Display Units
A type of flexible retail display that’s dedicated to highlighting key products, typically in retail environments.
We hope this helps you on your retail execution journey. If you have any question, please contact firstname.lastname@example.org. Or, to find out more about these terms, visit our website: www.stayinfront.com.