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Five Principles of Inventory Management

A literary agent finds herself immersed in the pages of Christian Retailing magazine and looks at an article on “How to Plan Profitable Product Assortments for Your Store;” and then spins it for her book-author readers. Well, we’d like to spin it back to you, Christian bookstore managers, owners and staff:

1. Managing inventory is a live or die proposition.

2. Get rid of nonproductive stock as soon as you can.

3. The best sale a retailer can make is a special order.

4. Replenish core items often.

5. Seasonal items are cleared out long before the “season” is over.

Click the title to read the whole article: Think Like a Bookstore Retailer

(I have to add that I disagree with number five: “[S]top replenishing four weeks before the season ends.” Our community shops at the last minute, and we have to either satisfy that demand or risk losing them forever.)

HT: @TUnderwood

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