The importance of inventory management

A couple of weeks ago, we visited a couple of our clients in central Michigan to inquire about their experiences with RICS. While there, we met with Vickey Wegener, owner of two Educational Outfitter stores in central Michigan. One retail buzzword that I have heard over and over again is “Inventory Management.” I have learned its value and importance in the retail world and that RICS can and will accurately manage inventory. After meeting with Vickey, I learned firsthand how RICS plays a crucial role with her stores’ inventory management. One of the biggest takeaways from this client visit was how Vickey now has better control over her inventory. After switching to RICS, she found that doing a physical inventory is much simpler than it was before. She also explains how she knows and trusts that the inventory is accurate when she is finished: “If the computer shows that we have it, then I know we have it.” Because of the inventory management and reporting capabilities within RICS, Vickey now has better control over what is coming in and out of her inventory. In fact, she has actually decreased her spend on inventory by 40% because she is able to have a better handle on her business. Vickey shared with us that some retailers claim that they don’t have time to monitor their physical inventory, especially during their busiest seasons, but she tells them “you don’t have the time NOT to do that.” Although keeping track of inventory can be tedious and time consuming, the financial benefits make it worth it. You can find the full case study here.

ed outed out clothes

Learn more about why inventory management matters