While its extremely beneficial to business, taking an inventory count is time-consuming. Time is money, and the last thing most shop owners want to do is close for a day or two to focus on inventory. However, it’s possible to remain open for business and begin your count.
Conducting the count in sections will help. Start with the aisles that have the lowest sales and end with the busiest. Consider coming in before opening hours or staying an hour or so after close to inventory. Hiring temporary help for inventory purposes is another way to get the job done.
Having a point-of-sales software system in place like ePRO or Celerant Technology keeps the inventory count current. But if the shop isn’t equipped with the software to keep track of inventory, teach staff to manually update the information.
Buying is a balance. Too much inventory can lead to a loss due to markdowns, but too little can lead to lost sales. Keeping count of what’s in stock will help you make the best decisions for both your shop and your customers.
For more information about inventory-management best practices, contact Kurt Smith, ATA’s director of industry relations, at (717) 578-0736, or kurtsmith@archerytrade.org.