Dare to test your retail math skills?

So, did you score a 5 or 6 on the Level I test?  Are you ready for some tougher Business Management Questions?

Many companies realize that strong business math skills provide a competitive edge.  Understanding the interrelationships between business metrics empowers you to make better decisions to achieve your business objectives.  How thorough is your knowledge? 

Below are six Level II Business Management Questions (BMQs™) reflective of everyday issues in the CPG/FMCG industry.  Work on your own to answer as many questions as you can in 10 minutes.  To obtain a true reading of your math knowledge, we encourage you to try this exercise without aids such as formula sheets, business calculators, spreadsheets with stored formulas, or coworkers.

Click on “Submit Quiz” to receive your score - must enter your email address or we will not know where to send your score.  (Please note: this is a temporary webpage until the web designer gurus can complete the "real" pages.  Because of the temporary site, you will receive your results via email - therefore an email address is required until this is fixed.)  If you want to try a more challenging exercise, test your skills at the Level III Business Management Questions.

LEVEL II Business Management Questions:

Question 1:	Each Jim Croce Spice Store sells $1,500 per year of Thyme in a Bottle at an average retail price of $2.97.  If the shelf holds 48 units, how many days of stock does it hold?
Question 2:	Popeye carries 8 SKUs of olive oil that take up a total of 4 square feet of shelf space.  Each SKU has a gross margin of 40% and carries $100 in average inventory.  If total annual sales are $2,000, what is the GMROS?
Question 3:	Last year your dollar sales were $2.6MM with 9 turns and an average inventory of $200K.  What was your GMROII?
Question 4:	The Old Bull business unit sold $60MM which was 2% growth vs. last year.  The Young Bull business unit sold $12MM which was 20% growth vs. last year.  A re-organization occurs, and the two business units are combined into a new business unit called Total Bull.  What was the growth rate of Total Bull?
Question 5:	Your goal is to grow your profit dollars by 10% next year, but you expect no growth in unit sales.  Based on this year’s results shown below, assuming no changes in retail price or cost, how many units must you shift from Standard Products to Premium Products in order to achieve your goal?
Question 6:	Your portfolio consists of three sizes, shown in the table below.  What is the overall gross margin percent of your portfolio?
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How did you do?  These questions pertain to everyday issues many CPG/FMCG professionals face.  Think of the credibility you would gain with your customers and within your organization if you could easily solve business questions of this nature...think of the opportunities you could find to grow your sales.

If you scored 4 or less, our Business Math Boot Camp Level II workshop will help you improve this level of mathematical skills. 

If you scored 5 or 6 and want to raise the bar, try answering some tougher Level III Business Management Questions.

Remember, for you to see your results, you must include your email address, otherwise we will not know who to send the results to.