Gleeknot stock management system is the back bone of every retail concern, whether it's a bricks and mortar shop, eCommerce website, factory outlet or pop-up concession.
From the smallest retail business to the biggest superstore, effective stock control is essential. Finding the right products to sell, when to sell them and not to be left with merchandise that's eating away at your profit is a challenge for any business. Not only is it frustrating to sell excess stock at a reduced to clear price, it's also corrosive to your company's resources.
Even the initial, small holdover of old stock can cause a knock on effect when you have an inefficient stock control system.
Not only is it time consuming to re-price stock, you are also damaging your mark up. Even though there is a possibility that you can shift all excess units, you will still not gain the profit that you were hoping to achieve when you initially bought those items.
This is a risk that can be balanced out, with costs that can occasionally be absorbed by your profits,
but this is something that no business can afford to do indefinitely. Eventually, without tighter stock management controls, you'll end up with an overflow of stock and fewer new products to sell. The effects are obvious, and while the results are worrying there are solutions open to you, the retailer, to combat these situations.