29 Sept 2006/Nilesh Shah
Does your system tells how much you should buy?
Inventory Management
Retailing is a delicate balance between merchandise and cash.
It's a high stakes balancing act: commit money early to large quantities of merchandise, and possibly end up with too much; or, commit less up front, saving cash for later, and take the risk of not being able to get the goods when you need them.Â
How to achieve the right balance between merchandise and cash?Â
Projections and planning are essential, enabling you to meet inventory needs on a regular basis and avoid too much inventory when you don't want it.
For this traditional system ask for
- Reorder Level
- Safety LevelÂ
- Re-order QuantityÂ
- Minimum Order QtyÂ