Retail Inventory Management ought to be the No. 1 reason for profit or loss for the retailer. Don’t you agree?
If Inventory is “money” sitting around in another form, then, why should inventory sit idle? Will you let your hard-earned money sit idle in your bank account?
After all whose money is it anyway? If you are the owner, it might be yours, if you are employee too, it is yours sitting in the form of salaries and lost incentives and if you are a customer, it is sitting in terms of a design you don’t want and adding to the cost of your purchase of a design you like. So, every one pays for inefficiently managed inventory.
Retail Inventory Management is WIP (Work in Progress), and there is never an end to optimizing the inventory and making it sweat further.
Retail Guru’s Gyaan Ki Baat:
You can either go through the individual blogs ( Retail Guru’s Gyaan Ki Baat) which will be linked below or go direct to that blog / edition of Gyaan ki baat.
- Implement Retail Inventory Management – 25 % + Stock Turnaround Possible!
- Coming next
Just like Swacch Bharat, we invite other retailers and practitioners to join us in this goal of “optimizing inventory.” Sweep your old inventory away.
Connect and give suggestions on topics, problems and anything else. Accepted ideas will be suitably rewarded by Retail Gurukul.
About this series of blog posts:
This blog post will serve as the landing page for all of the posts in the Product and Inventory Management series. My list will continue to expand as we create the content for the series. If you like to receive notifications of these posts, then please sign up here.