We all know that we need stock to make money. We all know that we want to have stock which moves quickly. We all know, and some due experience, that the wrong quantities of products will be a risk for your business. The importance of a good stock management mechanic is extremely. Whether you are a small business or part of a global multinational stock becomes a risk for your company when you don’t manage it correctly. With my training sessions I used to focus on the key elements to explain the importance of stock management:
- Budget & Open To Buy
- Product availability
- Stock Management Cycle for your organization
- Best sellers, slow movers and dead stock
- Planning & Forecasting
In my blogs and tools I will focus on the above elements hoping to help you to improve your business. Some brands will have a great system to manage stock which is as good as the user. I used to set up an Excel based Stock Management Tool for the different brands I have worked for which I hope to share with you during my travels.
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