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Overstocked? Learn to Deal with It and Even Capitalize on It

Client Coverings, Tile, Stone & Flooring
Date May 9, 2018
Access Client Only

Description

Presentation at the 2018 Coverings Tile, Stone & Flooring Conference.

Yes, you can have too much of a good thing! Inventory, it is said, can either help or hurt you, and too much inventory generally tends to end up hurting rather than helping. We could go back in time and simply reduce the order that we placed last year (hopefully not longer) and that would solve the problem. Time machines however have not been invented yet, so we are faced with the reality of addressing excess stock in more creative ways. And how about intentionally buying someone else's overstocks? An anathema? Not anymore. It is often true that one person’s mistake is another person’s opportunity and that what you may not be able to sell or even give away may be in high demand somewhere else and vice versa. This session will look at both challenges and opportunity with slow moving inventory and will highlight the many ways to maximize the return on selling overstocks and strategies for buying someone else's problems. If you have too much excess inventory and/or you are looking for a way to increase your margins this is your chance to learn how to do it. Learning Objectives: - Fully understand the cost of too much inventory and the impact on the overall business - Take concrete action on overstocked items by marking them down or using other tactics - Compute the cost of a markdown on the financial performance of the company - Compute the maintained margin of an item as well as the GMROII that it contributes

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