When it comes right down to it the most important measurement in retailing is how much inventory is available for future sales demand. Too much inventory ties up cash and leads to the erosion of margins. Too little inventory will result in lost sales. While the best tool for managing inventory levels is, hands down, […]
Effective Inventory Management – The Importance of Planning
The ongoing challenge for every independent specialty retailer is the constant need to increase sales, control expenses and improve profitability. Because of these key business factors it is more important than ever for today’s retailer to effectively manage their largest investment: inventory. Maximizing the return on inventory investment is the key to profitability in retailing. […]
A Formula In Need Is a Formula Indeed – Balancing Inventory Plans
Often times there is a need for an objective way to distribute inventory between two or more stores or departments or classes or sizes, etc. Rather than using a seat-of-the-pants or traditional method (we have always done it this way) there is a mathematical model to solve this dilemma. Let’s use some hypothetical statistics to […]
