Small Retailers And Planning: The Root Cause Of Many Inventory Problems
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Overview: The largest asset for small retailers on the balance sheet is inventory. Without careful planning, inventory gets out of belt resulting in heavy markdowns due to overstocks and cash flow problems. The root cause of many inventory problems faced by small retailers is lack of adequate preseason sales and inventory planning. It appears, there's never enough time for planning, but it's a critical necessity, a vital investment in the future health of any small retailer. Points to be implemented by small retailers are to plan sales, plan inventories, plan inventory receipts, plan markdowns and to plan dynamically.