Companies working in the retail, catalog and eCommerce space can improve their bottom line profits by using creative inventory strategies. A business can improve the management of its inventory and assets and get their organization more focused on inventory planning, forecasting and analysis. Here are some ideas:

* Reduce your slow selling inventory as close to “in-season” as possible to get a higher cost recovery for it.

* Establish a vendor scorecard to evaluate your vendors on parameters such as on-time deliveries, margins, and issue resolution.

* Ensure that ALL categories and SKUs are forecast using a consistent methodology that makes sense for your company and the types of inventory that you stock.

Check out F. Curtis Barry & Company and their multichannel blog for more ideas.

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This entry was posted on Thursday, September 3rd, 2009 at 11:46 pm and is filed under Business. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.