Final answer:
Stockouts is NOT a part of the Strategic Profit Model (SPM).
Step-by-step explanation:
The element that is NOT a part of the Strategic Profit Model (SPM) is Stockouts.
The strategic profit model is a financial tool that allows businesses to analyze the different components that contribute to their profitability. It includes elements such as Net profit margin, Asset turnover, Financial leverage, and Return on assets.
Stockouts, on the other hand, refer to a situation where a business runs out of stock of a particular product and is unable to meet customer demand. Although stockouts can have an impact on profitability, they are not directly included in the strategic profit model.