How to Manage Obsolete Inventory

How to Manage Obsolete Inventory

Obsolete inventory ties up cash. It requires close monitoring to maintain the appropriate level of stock. For most retailers, poor buying decisions lead to poor cash flow. Review aging inventory. Reduce prices to sell slow-moving products and free up the cash to...
The Basis of Open To Buy for Retailers

The Basis of Open To Buy for Retailers

Open to Buy is as simple as a budget of expected expenses (use monthly averages for payroll, rent, utilities, supplies, etc.) combined with planned sales and purchases to create a monthly cash flow budget. Manage your store to that budget by making adjustments to...