MANAGING YOUR INVENTORY FOR INCREASED PROFITABILITY

Who we are Roots in the home furnishings industry go back to 1897

Built software solution to address the needs of own store

Today, we provide 1000+ retailers with the tools they need to improve profitability and efficiency

Today’s presenters

Tari Ann MakingsEducation Manager

Lee RychelCustomer Relations

Housekeeping Presentation: 30 minQ&A: 15 min

We’ll move quickly.PSIinfo@accellos.com

Questions?Use the Q&A Box

Recording + SlidesWe’ll send you a link.

Spot winners and keep best sellers in stock

Base reorder quantities on business intelligence

Become more nimble in reacting to trends

GAIN GREATER CONTROL OF YOUR INVENTORY AND INCREASE PROFITABILITY

What you’ll get out of

today’s webinar

Question Your Current ParadigmsWhat can I do better?

Leverage Business IntelligenceWhat is it?

Seek Good InformationWhere can I find it?

Take the Next Step Today What do I do NOW?

#1Spot your winners and keep your best sellers in stock.

What defines a WINNER?

Quantity sold

Low return rate

High margins

Ease of ordering

Having a good analysis of inventory performance is critical

Not just a list, but all of the things that make up inventory performance …

Shipping Lead Time

Gross MarginRate of Sale

Return RateGMROI

#2Base reorder quantities on actual business intelligence.

Rate of sale report Report by category Report by vendor Line up Automated purchasing

recommendations

Where do I get this

information?

Good information helps determine:

– Trending Collections

– Vendor Performance

– Category Performance

– Special Order Profitability

Just for stock? Can I measure

Special Orders?

WHAT’S TRENDING: The critical component

#3Become more nimble in reacting to sales trends.

KNOW what impacted your increase or decrease in sales

REMEMBERthe customer is determining what the “trend” is, not the retailer

PAY ATTENTIONto your displays

So, what do I do?

Inventory + Merchandising = Full-time Job

Be sure to do heavy categories more frequently

Touch each category at least every 60 days

Schedule time every week to work on a category

Be sure to consider floor moves

Know where your holes are Know your winners Shop new goods to fill voids by category

Be ready for Market

#4Gain greater control of your inventory and increase your profitability.

If they haven’t sold, make them sell Recognize that slow or dead product is

costing you real cash– Insuring– Labor to work around it– Keeping track of it– Repairing it because it gets handled too

many times

Manage slow moving

products

Understand vendor shipping/freight opportunities

Can you consolidate with nearby dealers?

Do you have access to a freight buying group?

Don’t be afraid to ask

for help

Knowing that you’re making weekly decisions that will improve your competitive position and make your store more money is

mission One in managing inventory.

What’s next?

Assemble your information

Build your lists

Schedule time for analysis

Act on your information

RETAILvantage has the tools you need to accomplish this mission

TALK TO US

Thank you!Questions?

Contact us to learn how RETAILvantage can help you gain greater inventory control and increase profitability: psiinfo@accellos.com | 800.888.5565www.profitsystems.com