![]() The best way to avoid this type of overstock situation is to utilize an itemized inventory list. When this happens, there can be a large volume of unsold inventory sitting in that retailer’s warehouse, accumulating higher and higher storage costs as time goes on. On occasion, a business might release a product that isn’t nearly as popular with consumers as they’d expected (or projected) it to be. Make data-driven decisions about inventory Using an inventory list, therefore, can help you prevent dead stock items from collecting on your shelves (and protect you from a huge spike in inventory carrying costs). Among other relevant performance metrics, inventory lists look at your own inventory turnover ratio, revealing how many times your SKUs were sold and replaced within a specified period of time. Inventory performance is a measure of how well your company’s inventory items are being used and replenished, as a means to compare actual dollars versus forecasted cost of goods sold. This knowledge means you’ll never have to worry about missing out on potential profits, since you can capitalize on the inventory that’s readily available. Organized product inventory is the foundation for an efficient supply chain, accurate fulfillment, and a satisfied customer base luckily, inventory lists keep close tabs on your product movement, so you know everything you have in stock and/or what’s ready for sale. Let’s face it: your company will have a tough time fulfilling its orders if you don’t have a good grasp on what’s in stock at any point in time. Inventory lists help brands to easily monitor their stock levels, allowing for greater inventory control and a more streamlined approach to inventory management. With that said, these lists are dynamic, not static - meaning they can be updated or edited as needed. In general, an inventory list should include the product’s name, SKU number, description, pricing, and quantity. Inside Extensiv Show submenu for Inside ExtensivĪn inventory list is a comprehensive, itemized list that details every product your company has in stock, including raw materials, work-in-progress items, and finished goods.Resource Library Show submenu for Resource Library.Integrations Show submenu for Integrations.
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