Like you, I enjoy browsing through favorite stores to see what’s new and different.
I don’t always find something, but one product usually says to me, “You’ve been waiting to take me home.”
This weekend as I browsed, a familiar paper tag was hung or placed on shelves and hooks, and I immediately knew that merchandise in the area had been inventoried.
I first became aware of the inventory process when I worked at Alexander’s, a former east coast department store. Inventory was always completed in January to account for merchandise value, uncover slow sellers, and track shortages (both what needed to be ordered and theft).
Taking inventory of our own products is just as important, allowing us to track items that:
I’m a firm believer in taking the best of the corporate world’s procedures and transferring those processes into our own businesses. That’s what inventory control is reviewed in chapter 9 of How to Start a Home-Based Gift Basket Business.
Review the quantities and styles of your baskets, snacks, and supplies before visiting this month’s trade shows so that you’re on track and ready to buy exactly what customers want.
If you’re having trouble understanding the inventory process, what’s the one thing you want to know so that you can complete this task and move forward confidently?
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