top tips for retail inventory management

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www.cbs-cbs.com/ www.facebook.com/ CorporateBusinessSolutions www.youtube.com/user/cbsadvisers Top Tips for Retail Inventory Managemen

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Page 1: Top Tips for Retail Inventory Management

www.cbs-cbs.com/www.facebook.com/CorporateBusinessSolutions www.youtube.com/user/cbsadvisers

Top Tips for Retail Inventory Management

Page 2: Top Tips for Retail Inventory Management

Inventory is a huge part of any retail business. If it isn’t managed properly, it can cause a lot of problems. Businesses will lose money, time, and energy wasted on tracking down products that could be better spent elsewhere.

Page 3: Top Tips for Retail Inventory Management

Tips for Managing Inventory Well

The following slides will provide you with a few good tips to help you improve your inventory management

Page 4: Top Tips for Retail Inventory Management

Always Perform Regular Audits

Your inventory changes on a regular basis. With buying, restocking, special orders, returns, and other issues, the up and down of the inventory can look like an EKG machine at times. If you have regularly scheduled audits (every 3-6 months) and professional audits (annually), you will be able to keep better track of things.

Page 5: Top Tips for Retail Inventory Management

Correct Inventory Errors ImmediatelyIf you notice that your inventory is off during another task, such as a sale or customer inquiry, fix it at that time. Don’t just try to remember that it needs fixed or write it down for later. Just go in, adjust the inventory, and go back to what you were doing.

Page 6: Top Tips for Retail Inventory Management

Hire Professionals for Assistance

Professional inventory audits can offer more management advice and support, as well as to help you come up with a more organized system for inventory management.

Page 7: Top Tips for Retail Inventory Management

If your inventory is managed well, your retail business will see better results in the way of sales, profits, and even daily operations.