When working in retail inventory management, keeping an accurate count of your product and maintaining an organized item inventory is essential. Making out timely orders and maintaining regular deliveries is also important, so your inventory neither gets too low and forces you to lose sales, nor your inventory builds up too big, threatening you with an expiration date crisis, as well as time lost moving around excess product that’s in your way.
Floor managers need to be part of the process of ordering new inventory, even if they are only consulted. Good communication about poor sales from all your staff is important, to avoid inefficient new inventory orders. Beyond good communication and smart, informed supply orders, here are some other tips for retail inventory management.