Understanding this truth is one catalyst that has the power to make average retailers great. Successful retailing boils down to profitable inventory turn, and the best way to improve profitablity and turn is to forget everything you thought you knew about the mundane exercise/ discipline/ system known as “inventory management” and freshen up your approach. Revisiting the basics of ordering, pricing, promotions, auditing, markdowns, and replenishment and applying mobile, analytically-driven solution software to their execution is the key to gaining inventory control.

Driving Application Efficiency Maintaining accurate inventory is at the heart of retailing. An accurate, real-time view of inventory is key to meeting planned sales goals, preserving margins, and meeting the expectations of your customers – all imperatives for running a healthy retail business. Perpetual inventory solutions are one means to that end.

Perpetual inventory solutions handle all the elements of an accurate in-store inventory, including receiving, transfers, return to vendor, physical inventory, cycle count, scan data

collection, and inventory adjustments. Modern inventory management solutions such as this enable real-time inventory updates to a perpetual count of the total on hand quantity of each SKU. They also allow management of “committed quantity,” or that quantity of store-level SKUs that has been preordered or requested by customers; demand forecasting and cycle counts, which reconcile quantity discrepancies automatically; and receiving diverts, whereby merchandise can be diverted to the sales floor immediately during the receiving process. Other benefits of perpetual inventory management systems include: