It’s All About the Inventory
Good inventory control is critical to ensure the survival of a retailer during these difficult times. Adequate levels of inventory in relationship to the anticipated sales can’t be accomplished without a plan, preferably an open to buy plan. Having too much or the wrong type of inventory during certain seasons can drastically hurt your cash flow and reduce profits which lead to markdowns and on sale items. Using your departmental comparatives, vendor comparatives and your open to buy planning will ensure you have the best mix to maximize your bottom line. Make sure your point of sale software has these features built in to simplify the inventory management.