If over 30 percent of your inventory stock is old, you have a problem that needs to be addressed now.
Let’s face it: every retail business needs to deal with surplus assets, whether it is excess inventory or customer returns.
Results of poor open to buy planning or no planning can be quite costly and generally lead to inventories that are out of balance.
Is your cash tied up in unsold inventory? If so, the following questions should be addressed: How did it get there? What can be done to get it out? How can you prevent the same thing from happening again? Clearly you are purchasing more than you are capable of selling. The extra inventory is carried […]
Items in a classification must be kindred, having the same end use such as similar markup and turnover goals, as well as like selling patterns.
Fewer customers buying less translates to lower sales volume, but so can your store’s approach to sales and inventory forecasting.
Accounting and inventory software can help C-stores achieve desired margins and reduce the time spent on unnecessary tasks.
According to the latest data from the Bureau of the Census, there are roughly 5.9 million businesses in the U.S., and virtually all of these can be considered small. Only 18,469, or less than one-third of one percent, have more than 500 employees. Even getting to several dozen employees is a feat worthy of recognition, as […]
Published reports say that store owners are keeping a closer eye on their stock, so they don’t get stuck with too much inventory at season’s end.