Retail Inventory Control – A Lethal Weapon
Part of the answer to the “buying problem” is inventory control. In fact, the biggest reason retail businesses fail is that they lack inventory control. However, when employed aggressively against competitors, effective management of your inventory can be a lethal weapon.
Imagine doubling your inventory turnover rate (certainly not far-fetched with proper control): you could sell [...]
Measuring Retail Inventory Productivity – Inventory Turn and GMROI
When I’m meeting for the first time with a potential client I occasionally tell the story of the best year I ever had as a buyer. It was a year I ran a 2% decrease. Don’t get me wrong, I ran plenty of increases over the years, but that was the year I did my [...]
