Closely monitoring stock turn also gives you a better handle on your inventory so you can make smarter purchasing decisions, keep wares moving, and sell more of the goods your customers want.
Definitely, this metric or static can inform your decisions on:
What items need to be ordered If the stock turn for a distinct thing is too high, it could be an indication that you need to order more of it.
What units need to be consigned to the trade aisle
Stock not turning fast enough?
It is the time to sell them on sale before they become expired stock.
What has to be required in advance to allow ample time for manufacturing, production and shipping By knowing how many times a product turns per year, you’ll be able to plan to ensure that you don’t run into early stock-outs.
When you have a solid handle on inventory turnover, you’ll be able to answer and take action on the above questions more immediately.
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