Mastering Stock Control: The Formula for Retail Success in Business

I’ve been involved in a big project this week and was reminded of a phrase I learned from my good friend and mentor, Susan Negen.

Effective stock control is a non-negotiable for your business’s success.

And Susan taught me everything I need to know about stock management in one simple phrase:

“The right amount, of the right things at the right time.”

This isn’t just about stock; it’s about cash flow and profit too.

Too much stock ties up your cash, draining resources that could be invested elsewhere. Too little stock?

You risk losing sales and frustrating customers.

And your timing has to be right too.

Finding that sweet spot is crucial to keep your business thriving.

So, if you want to boost your cash flow and ensure you’re meeting customer demand, make sure you have an iron-fist grip on the control of your stock.

Remember, it’s not just about what’s on the shelves; it’s about making it work for you.

Something for you to ponder over this week, perhaps.

Have a great week

Mark