[vc_row][vc_column 0=””][vc_column_text]Training for a marathon or any kind of race takes preparation. You need to know the date of the race and work backward to develop your training schedule. You will determine running milestones before the race to prepare your body, schedule conditioning and rest days to improve endurance and speed and develop a nutrition plan to properly fuel your body. The more you prepare in advance, the more successful you will be at completing the marathon and setting a new personal record.
The same is true when onboarding to a new Inventory Management and POS system. It is not an overnight decision or switch; it should be a thought out and planned process to give you the tools you need to successfully use the new system. The transition plan should include milestones, schedules, and training along the way.
Once in the onboarding process at RICS, Vicki, Casey, and our Onboarding team will help:
Establish a plan with milestones from saying yes to going live
Migrate and organizing your data
Advise you on managing your data going forward
Prepare you to use RICS through hands-on training sessions
Help you train your employees to be confident users
Be available during go live to ensure everything is running smoothly
After you are ringing sales on RICS, there is a dedicated Support Team to answer questions, educate you on various aspects of the system and continue to guide you on the system. They are available 12 hours a day, every day.
Using an Inventory Management system is not a sprint – it is a marathon. It takes preparation, thought and dedication in order to use the system most effectively and be able to increase profits while reducing inventory. If you would like to learn more about the RICS team contact us at firstname.lastname@example.org or click here to schedule a meeting.[/vc_column_text][/vc_column][/vc_row] When you’re managing more than one store, it can be difficult to stay on top of how your inventory is doing across locations. Optimizing your inventory for each store and for your business as a whole is an important part of creating a business model that makes you money. So when it comes to optimizing your inventory to get the most bang for your buck, where do you start?
Check out these three tips for how you can better manage and optimize your inventory in your multi-store business.
Analyze inventory performance monthly (at minimum)
Ideally, you want to be analyzing your inventory as often as possible. If you can’t get around to viewing performance daily (or even weekly), make sure you are at least setting some time every month to review your inventory performance. This will help you identify you best and worst sellers, along with which stores are selling what products.
Map inventory sales
Sometimes you might find that one piece isn’t selling well at one location but is flying off the shelves at another. That’s why it’s so important to map your sales to each of your locations. When you know inventory is performing better in one location, you can move some of your stock to that location rather than allow it to collect dust on your shelves. On top of that, you’ll avoid being overstocked due to ordering new products by borrowing inventory from other locations.
Take advantage of transfers
As mentioned above, optimizing your inventory can also mean borrowing inventory from other stores. The idea that you should ‘buy from yourself’ before placing a new order can be instrumental in avoiding excess inventory at the end of the year. Use store transfers to move inventory around to the location that you know will be able to sell it.
For more tips on managing your multi-store business, download our free guide, Guide to Multi-Store Management.
[vc_row bottom_padding=”40″][vc_column width=”1/1″][vc_column_text]Understanding all aspects of your inventory is essential to run a successful retail business. We have compiled a list, from A to Z, of everything you need to know about your inventory![/vc_column_text][/vc_column][/vc_row][vc_row][vc_column width=”1/1″][minti_image img=”3230″ lightbox=”2″ url=”/wp-content/uploads/2016/07/Infographic-Tax-Free-Weekend-2017.pdf”][/vc_column][/vc_row]
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