Nothing costs retailers more than slow-moving, or dead stock.
Inventory takes up space, cash and reduces the opportunity to invest in the right stock. Then, there’s the challenge of exiting the ‘bad’ stock from the business.
Time and money down the drain, not to mention missed opportunities to delight your customers.
So, how did we get here?
Today’s retailers benefit from having endless aisles, no longer constrained by physical space when it comes to stock, with online catalogues enabling a vast range of products.
This is a blessing as well as a curse.
Often, less is more. Customers want choice, although they don’t want to be confused by the offer, and they certainly don’t want to be disappointed by a lack of availability.
Sometimes, retailers try too hard to please, less is often more…
We have the solution for dead stock…
‘Right product, right place, right place.’
Sounds simple. We think it is.
Our background of working for many years for International Blue Chip retailers has taught us that often, too much focus is on trying to drive the top line, not considering the bottom.
‘If we buy what we bought last season, we’ll get the same result…’
Careful what you wish for..
This is a blunt instrument which takes no consideration of seasonal changes, promotions, competitor activity, and very often, a targeted terminal stock figure, to keep the finance kids happy…
Our range of smart retail apps, ranging from weekly stock planning to predictive sales forecasting and range review dashboards de-mystify the challenges and create solutions that are easy to manage, deliver customer value and manage to business KPIs…
Fancy a coffee?
We be more than happy to discuss with you about anything related to this blog. Maybe we could grab a coffee, have an email conversation or chat over the phone? We are all ears!