A blog on issues affecting Australia's newsagents, media and small business generally. More ...

Sunday newsagency management tip: know your total stock holding

A retailer last week told me that they enter inventory into their shop computer system when they move it from the garage at home to the shop. They explained they purchase products at a discount by buying in bulk and don;t consider them part of the shop’s stock until it is at the shop.

Their approach means this business does not have accurate reporting on stock turn, return on investment and aged sock performance. I6 means they are ill-informed when it comes to making buying decisions.

Buying because of a special deal for bulk could be false economy. You will rarely know unless you carefully track your stock.

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Management tip

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