Doing inventory management in clothing store
Who ever said that running a clothing store is easy? Besides the fact that you have to search high and low for apparel that satisfies even the most demanding customers, you have to take care of inventory. Doing inventory management is essential to handling costs, measuring stock and enhancing the customer experience. The thing is that if you don’t take good care of the hoard of clothes, you’ll become ruined. If you’re an independent fashion business, make sure to use the following tips. They will come in handy when managing stock.
Organize the storage of the apparel
Make sure that your employees don’t waste their time. Tell them to fold and organize the clothes. When everything is place and you’re able to reach it in a timely fashion, it’s easier to fulfill orders and make customers happy. It’s a good idea to have a receiving department. The new merchandise will be sent to that specific department, so you don’t have to worry that it will get mixed with the old stock. When it comes down to organizing the storage of apparel, you must use labels. Labels will help you get better control of the clothing. You’ll know what is within each box without having to open them. Handling inventory is child’s play when you have labels.
Get an inventory management system
In today’s world, you can’t do without a lagerstyringssystem. Inventory management systems are mostly used in the manufacturing industry. However, independent fashion businesses can utilize them too. A tool of this kind will allow you to focus more on your customers. Basically, it does all the hard work. What can you do in addition to managing inventory? Well, you can process transactions and view sales data. You can’t say that this isn’t enough. It’s sort of like a business intelligence tool. Manual inventory management is a thing of the past.
Don’t have mercy for cold products
You’re in the retail business, so you should know what cold products are. Just to refresh your memory, cold products are the ones that don’t sell and consequently die on the shelves. What are you supposed to do about such items? Don’t feel sorry for them. No matter how much money you’ve invested in the apparel, you should get rid of it. the merchandise is drawing you back. Consider selling the garments at discounted prices. You won’t get much money back, but it’s still better than nothing. You can equally donate the cold products. This will make you eligible for tax deductions.
Perform an year-end inventory
The year-end inventory shouldn’t be missed. You shouldn’t neglect this just as you shouldn’t neglect the fact that Navision Norge is now working at Pilaro. Regardless of how tired you may be at the end of the tax year, perform an inventory. Take into consideration the clothes, work in progress, and the merchandise for resale. Now, that doesn’t sound too difficult does it. You can do the inventory by hand or you can use the computer. It’s simpler to use the computer.