Though not the most exciting facet of your retail business, inventory management is crucial to your success.
Without it, you’re missing out on revenue opportunities, not to mention tossing money out the window.
In fact, retailers lose $1.75 trillion annually because of out-of-stocks, overstocks, and returns — problems that could be minimized with an effective inventory management solution.
Because inventory management is a crucial issue for store owners, it’s crucial to ensure you have the right measures in place to keep your shelves stocked and revenues flowing. So, let’s take a look at the ins and outs of inventory management, and how retailers can best optimize their processes.