Your inventory is the reason your retail store is in business. Without it, you wouldn’t have anything to offer your customers in exchange for profit. Because it is so essential to your success, you need to make sure you understand every aspect of your inventory. The better you understand which inventory is making you money, the process that works best for receiving your inventory, and what inventory you should be buying each season will all ensure that you being a smart and therefore profitable retailer.
We have compiled a list from A to Z that will take you through all of the benefits and aspects of inventory management you should make sure you are familiar with. We have included suggestions for what to do with old inventory, how you should be tracking and using your inventory data, how you should be using your inventory management system to get the most out of your inventory and business, and how you should implement a standardized inventory process.
Be sure to check out the complete list here that includes everything you need to know about your inventory. If you want to learn how to manage your inventory in more depth, see the Inventory Management Best Practices guide that takes you through the best ways to use your data, run your store, and monitor metrics so that you can get the most out of your business.
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