Inventory is the life blood of a wholesaler. Brands and products help define your identity as a business. However, if not properly managed, these same brands will damage your cash flow.
Purchasing inventory is the single biggest outlay of cash that your company incurs each year. In a $50 million revenue wholesaler, more than $35 million is spent each year on inventory.
That is big dough. It’s also a big opportunity to enhance company financial performance by improving your portfolio management and SKU review process.
Managing inventory is a mixture of art and science. It’s a blend of subjective and objective information. There are the numbers (the objective information, the science) and then there’s your gut (the subjective information, the art) The idea is to combine the two and make the best decisions possible for your inventory portfolio and your bottom line.
The video below will provide proven and profitable tips to manage your inventory portfolio, and monitor your key metrics.
The road to better SKU Management is just ahead. Let’s go.
Want more tips and strategies to manage your SKU’s? Sign up as an Annual Subscriber before the end of the month and get the full SKU Management Course.
Yours in SKU Management,