Retail RX

How to Cure the Inventory Management Headache

Staying on top of inventory is one of the toughest challenges a retailer faces.

The constant churn of product selection is not just time-consuming, it requires meticulous attention to detail, a reliable product tracking system and significant physical space. Mastering inventory results in much more than simply organizational improvements. It can lead to increased revenues, better theft control, improved forecasting and budget setting and even smoother customer service.

All fields are required

Inventory management has become even more complex in recent years. Brick and mortar stores are forced to strike a delicate balance between store supply and online shopping demand. Since 2010, retail inventory-to-sales ratios or, the percentage of inventory to store location's sales- has been on a steady rise. This means chains are moving product to shelves faster than ever in an attempt to nimbly address shopper demand and streamline their own processes. More and more businesses are taking the time to polish their inventory management strategy, from data tools to storage to physical transport.