Retail Stock Management | Buying | Inventory Control |

All about Stock + Inventory

Deleting Product Lines
Every good buyer makes an occasional bad buy. Buyers must use judgment based on experience and be prepared to take risks. Nevertheless many bad buys result from lack of discipline or analysis to complement or test that judgment. Therefore buyers need to continuously seek information to better a.. MORE

Seasonal Plannning
Department stores have developed the after-Christmas sale into one of their biggest events of the year. But few small shops have the traffic to ensure that all of the post seasonal merchandise is sold within a few days of a holiday. A post seasonal sale should not be allowed to go on for very .. MORE

Setting the Right Price
There are many outside influences that affect profitability and a retailer's bottom line. Setting the right price is a crucial step toward achieving that profit. Retailers are in business to make a profit, but figuring out what and how to price products may not come easily. There are two cost.. MORE

Stock Turnover
Stock turnover is defined as the number of times during a specific period, usually one year, that the inventory on hand is sold. At a time like this a slow stock turn means that cash flow is lying on the shelves. It is not being turned into cash to pay your creditors and is a recipe for going bankru.. MORE

A Retail Buyer's Responsibilities
The buying function plays a critical role in a retail business because it is buyers who determine virtually all of the elements of the merchandise offer. If the buyer fails to get the ‘five rights’ (that is, merchandise, quantity, price, place and timing) right, no amount of slick prese.. MORE

Controlling Your Stock
From a store's perspective, stock management means controlling the stock that is being bought so that customer needs are continually satisfied and maximum profitability is achieved. Remember: Merchandise is typically the largest single asset in a retail business and, as such, its productivity .. MORE

Retail Space Allocation
To determine the optimum stock mix, retailers must first identify their core merchandise - that is, the merchandise that makes the statement that defines the range. Then, using this core stock as a foundation, they can build the rest of the range to complement and augment it as shown below. .. MORE

Stock Management...its important!
From a store's perspective, stock management means controlling the stock that is being bought so that customer needs are continually satisfied and maximum profitability is achieved. Remember: Merchandise is typically the largest single asset in a retail business and, as such, its productivity.. MORE

Stock Rooms and Storage
(http://www.thetemplargroup.com.au/Articles/visual_merchandising) Are you opening a retail shop? One of your important tasks is to design your stock room. Or perhaps you opened your shop but didn’t really give all that much attention to your stock room and now is the time to get you.. MORE