Five Common Questions about Inventory Management

by Chris Millet, Business Coach

As I work with clients on proper inventory management techniques, I encounter some common questions and concerns. I thought we may have other clients who have the same questions, and decided to share them with you. Most of these concerns stem from a perspective, which has caused improper inventory management in the past. Our inventory management techniques are time-tested and proven, but, as with any new technique or process, inevitably there is a resistance to change and a fear of the unknown. The following is a list with responses to five of the most common concerns, expressed to me recently.

1. In today's economy, customers are looking for inexpensive items and immediate satisfaction, which many times causes me to sell my floor models. How can I nail my best sellers to the floor and still satisfy my customers?

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