PEILCC Annual Report 2024

The industry faced many hurdles in Fiscal 2024, overall economic downturn, shifting spending habits, new social trends, and rising input costs. These factors all contributed to declining volumes and were a common trend across the country. Despite these challenges, The PEI Liquor Commission surpassed March 31, 2024, targets. Gross receipts were $3.32M and net transfers were $2.63M, representing positive variances to budget of 2% and 6% respectively.

PERFORMANCE HIGHLIGHTS

The PEILCC set inventory turnover goals at the beginning of the fiscal year as part of its strategic plan. These turnover ratios were based on the year ended March 31, 2024 to measure inventory efficiencies. The PEILCC has been better able to manage the days in inventory and the warehouse level in order to meet the needs of our customers. Store inventory turns are up slightly from last year which can be attributed to the increase in the number of products held in store inventory and necessary to fulfill customer demands. An improved store ordering process continues to keep store inventories in check and ensured better distribution and availability of inventory across the retail network. In addition, the central warehouse has been reconfigured to optimize space and manage warehouse efficiency.

PLEASE DON’T DRINK & DRIVE

13

PEILCC 2023-2024 Annual Report