A Few Statistics From The National Retail Federation Show.
Everyone always has a survey showing the importance of proper inventory levels. Retailers should improve customer service and product availability if they want fewer shoppers to walk out of their stores without buying, according to a Deloitte & Touch USA survey shared at the NRF Show. About 64% of those surveyed said the item or size they wanted was out of stock, 57% reported the register line was too long and 52% noted a sales associate was not easily available.
This all relates back to carrying proper levels of inventory as related to sales. If you never run out of product, you are over stocked and if you always run out, then you need to adjust your inventory levels. Overstocking can be as costly as being under stocked. You need quick and concise information to keep inventory with good turn rates, proper sell through percentages and as little mark downs as possible. The rest of the survey was based on good business practice related to quality customer service.