Having too many products on hand that are not selling can lead to a cash flow pinch. Your money is tied up in inventory, rather than being in the bank! Even worse is running out of your best-selling products - those basic items in sizes and colors available at times when customers want to buy them.
If customers come into your place of business and find that their favorites are out of stock, they'll get annoyed! And when they get annoyed, they'll go online and find what they need from a competitor. Not only that, next time they'll think twice about trying your store first!
Knowing exactly what your best-selling items are for each month of the year, and knowing exactly how much to buy to meet your customer needs is not an exact science. There is help available, however, to steer you in the right direction. CounterPoint's Inventory Analysis and Open to Buy functions can assist you with the process of planning and monitoring merchandise purchases, sales, and inventory levels. Call us at 800-672-4806 for more information or email us.
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