Inventory Management

What is Inventory Management

Inventory management give retailers more information with which to run their businesses, including:

1. Product locations
2. Quantities of each product type
3. Which stock sells well and which doesn’t, by location and sales channel.
4. Profit margin by style, model, product line or item
5. Ideal amount of inventory to have in back stock and storage
6. How many products to reorder and how often
7. When to discontinue a product
8. How changing seasons affect sales