Your single most compelling asset? Your inventory. Bring it in, get it out, at the right time. And always keep it fresh.
Compelling inventory is what drives the customer in, and what drives your revenue. Are you properly managing that inventory to best impact your cash flow and profit?
Keep things fresh. Constantly. Even at clearance time. Your customers are either looking for what is new or what is on sale.
If you have multiple locations, is that inventory balanced correctly across all categories, in all stores?
Well timed inflow puts you in the best position to sell at full price. How is that working for you?
Do you land goods too early, or too late?
How much lands in front of the season?
How much open to buy do you leave yourself, as the season unfolds?
When do you peak your inventory, to have enough stock when your customers are ready to shop?
If you have a seasonal store, or seasonal classes of merchandise, do you have enough inventory to meet sales, without carrying over a lot of inventory at the end of the season?
What is the age of your inventory? And what is its true value?
What do you own that is over 90 days old? What does that represent as a percentage of your total inventory? And what should that percentage be?
What percentage of your inventory should be less than 30 days old? Less than 60 days old?