Inventory Management for Retailers - The Art of Making the Most of Your Stock

Camille D. Roberge

Media-coach Publishing inc.

2015

64 páginas

2h 8m

ISBN-10: B019PHNA5U

In stock management, the retailer faces a considerable challenge. If you had only one product to sell, managing your stock would be easy, but with thousands of products available to consumers, you have no choice but to offer variety.

Products are relevant and profitable insofar as they meet the needs of your customers. Only a systematic analysis of sales figures, gross profit margins, inventory levels, and returns on inventory investment will determine whether this is the case. As you look over your store displays, one by one, you need to ask yourself a key question for each product you see there: DOES THIS PRODUCT BELONG IN MY STORE?

Whatever our ideas about sales, purchasing, and marketing, we must first acknowledge the fundamental need for profitability. Throughout this course, we will examine the factors influencing the profitability of each of your products by considering the dynamics of inventory management.