Think Dollar Store Merchandise Inventory Turns
How is it possible to sell out of the entire inventory in a dollar store business time and again without running out of the very dollar store merchandise which must always be present to sell? It is a balancing act, but this is exactly the goal with specific actions you must set for your dollar store business if plans are to maximize dollar store profits.
But how is it possible to sell out of the entire inventory in a dollar store business time and again without running out of the very dollar store merchandise which must always be present to sell? It is a balancing act, but this is exactly the goal with specific actions you must set for your dollar store business if plans are to maximize dollar store profits. Read on for some tips about ways to help manage the dollar store sales process for your store.
You must know what sells well in your store. Never allow the very best selling dollar store items to completely sell out. You must know how fast items have sold in the past. Then you are able to set safety stock levels and properly manage the ordering process so you never run out of these items.
Eliminate most of the current inventory of the dollar store items which sell very slowly. Focus on reducing the overall quantity of items which sell more slowly. Keep a few of each items in-stock, but limit reorders so your inventory level falls almost to zero before new replenishment inventory comes through the back door. Start ordering smaller quantities such as an inner case rather than a full case of these items.
Liquidate non-selling dollar store merchandise entirely. Totally liquidate the items which simply do not sell at all and never reorder them in the future. Take the money from these items and invest it dollar store items you know will sell quickly.
Continually add new, fast selling dollar store merchandise to the product mix in your store. Capitalize on the quick sales and added profits these items can provide for your dollar store business.
There are many key factors required to maximize the profits for your dollar store. Among the most important are reducing costs and maximizing sales. In this mix is maximizing the inventory turns for your business. This is accomplished by minimizing the product inventory level in your store – but without allowing the in-demand dollar store items to ever run out of stock. This balancing act requires careful inventory management and focused effort on buying.
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