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INVENTORY TURNOVER & TIME

Turnover is the key indicator of how well merchandise is performing at retail. It is a measure of financial performance that does not show up on the P & L. Accounting does not factor in the element of time. How fast you sold it. That’s turnover.
Optimum turnover ensures product freshness but also plays a BIG part in guaranteeing a smooth cash flow. Learn how to improve your inventory turnover and what the financial benefits will be for your business.

 

 

INITIAL MARKUP

“There are many outside influences that affect profitability, but setting the right price when investing in new inventory is a crucial first step toward achieving consistent profitability.  Some products can support higher markups than others.  The key is each item should be priced on its own merits.  There is nothing wrong with a wide range of initial markups.  Be aggressive when possible, but less so when necessary.  Learn specific techniques to increase your initial markup without alienating your customers.”