Carry Appropriate Inventory to Support Your Dollar Store Sales Levels
Success with dollar stores is more challenging than ever in today's business environment.
There is no room for errors of any type.
Costs must be controlled like never before.
Actions must be taken to keep the bargain hunters coming into your store happy.
One of the biggest challenges is controlling costs associated with the merchandise you offer for sale.
While driving for cost savings on these products is more critical than ever, there are also cost controls required around the amount of inventory carried at any one time.
In this article I present some of the actions for you to take to ensure you have the right inventory of dollar store items to support your current sales levels.
After all product inventory levels do require adjustment as sales move up or down if you are to achieve success with your business.
Success with dollar stores requires you to properly stock the shelves with critical dollar store items.
These are the items your shoppers must have to meet their basic needs.
These are the items you cannot afford to be without at any time.
They must be in-stock and ready whenever your shoppers arrive to make a purchase.
If a loyal customer cannot locate the products they must have, then they will move on to a competitor's store.
Carry proper levels of inventory to meet both monthly and long-term sales for your store.
Be sure to carefully match the on-hand inventory of merchandise to your current sales levels.
Then as sales begin to climb, your choice will need to be increasing inventory levels appropriately or to add more frequent replenishment orders.
Either way, you need to add inventory to meet the new levels of demand.
Develop a process for instant generation of replenishment orders of dollar store merchandise.
If you happen to have a Point-of-Sale System this is a very easy challenge.
If not, be sure to track department sales and then manually inventory key products as well as the hottest selling items in your store.
Then you will be positioned to submit the right orders to meet shopper buying habits.
Never lose sight of the fact that success with dollar stores does require careful inventory management.
This is an ongoing requirement to achieve success.
In fact the best practice is to examine the inventory of your store on a weekly basis.
Then use the data to generate the appropriate merchandise orders for your dollar store.
There is no room for errors of any type.
Costs must be controlled like never before.
Actions must be taken to keep the bargain hunters coming into your store happy.
One of the biggest challenges is controlling costs associated with the merchandise you offer for sale.
While driving for cost savings on these products is more critical than ever, there are also cost controls required around the amount of inventory carried at any one time.
In this article I present some of the actions for you to take to ensure you have the right inventory of dollar store items to support your current sales levels.
After all product inventory levels do require adjustment as sales move up or down if you are to achieve success with your business.
Success with dollar stores requires you to properly stock the shelves with critical dollar store items.
These are the items your shoppers must have to meet their basic needs.
These are the items you cannot afford to be without at any time.
They must be in-stock and ready whenever your shoppers arrive to make a purchase.
If a loyal customer cannot locate the products they must have, then they will move on to a competitor's store.
Carry proper levels of inventory to meet both monthly and long-term sales for your store.
Be sure to carefully match the on-hand inventory of merchandise to your current sales levels.
Then as sales begin to climb, your choice will need to be increasing inventory levels appropriately or to add more frequent replenishment orders.
Either way, you need to add inventory to meet the new levels of demand.
Develop a process for instant generation of replenishment orders of dollar store merchandise.
If you happen to have a Point-of-Sale System this is a very easy challenge.
If not, be sure to track department sales and then manually inventory key products as well as the hottest selling items in your store.
Then you will be positioned to submit the right orders to meet shopper buying habits.
Never lose sight of the fact that success with dollar stores does require careful inventory management.
This is an ongoing requirement to achieve success.
In fact the best practice is to examine the inventory of your store on a weekly basis.
Then use the data to generate the appropriate merchandise orders for your dollar store.
Source...