Getting control of your inventory: How to keep your items moving quickly
by Carrie Hinkel on October 4th, 2007
Think of your inventory as money on the shelf. The national average for a typical store is $15,000 worth of inventory and 30 percent of that is non-moving, dead merchandise! So what can you do to get control of your inventory and convert your inventory to dollars quicker? Keep inventory levels comfortably low. Most business owners will inevitably make the mistake of ordering too much of a certain product to get quantity discounts. While that is a smart move for an item that’s a proven fast seller in your store, it’s not a good idea for an initial order. It... Read more »