Introduction – Inventory Management
The lifeblood of a successful retail business is mainly dependent on the retailer’s ability to provide consumers with quality products in sufficient quantity from the right place at the right time.
Effective inventory management helps us meet our customers’ demands and generate sales. Good inventory planning prevents us from being out of stock or having excess inventory. The difference between us and say a store like Target, is that we do not have a static inventory, or to put it another way, our inventory is always changing.
What this means is that opposed to focusing on the inventory levels of individual items we focus on departments as a whole. Communication is vital when it comes to inventory management, from the guys on the floor to the managers, to the drivers of our trucks, to those in charge of handling donation pick up scheduling.