On the following pages, we’ll look at how Hollingsworth handles the challenges that come with managing slow-moving inventory. She analyzes unproductive inventory every month, making her company a good example of a business that has made purging dead items a smooth process rather than a dreaded project. As vice president of merchandising for all locations, one of her duties includes managing inventory. Hollingsworth has been working full time in the family business for more than 25 years. To help you tackle this issue in your own business, Hardware Retailing turned to Kelly Hollingsworth, who is part of a sister trio that directs operations at Griffin Ace Hardware, a business with three locations in southern California. In an age where online stores have made retailing more competitive, it’s more important than ever to have a product mix that is fresh and not burdened with unproductive merchandise. The way you manage your inventory will affect the overall productivity of your business and the customer experience. The truth is, slow-moving inventory may be doing you more harm than you realize. A few dead items sitting on the shelf never hurt anyone, right? You know you need to get them off the shelves, but you also need to do everything else, such as help the next customer, write your next order and pay the bills. Often called dead inventory, slow-movers are items that, for whatever reason, are just not selling. It lurks in nearly every retail operation. Click the image above to download a PDF of the story.īeware of slow-moving inventory.
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