Think Like An Inventory Manager
05 Jan 2017
More than thirty years ago I worked and managed a number of discount department stores on the east coast. I was always amazed at when and how the inventory was ordered to stock the shelves for the holidays throughout the year.
For example it is the first week of the new year. The holiday decorations are coming down. The stores are discounting all the remaining Christmas inventory still on the shelves. Over the next week several events will transpire:
- The discounts will continue until much of the merchandise is gone.
- The remaining unsold non-perishable, non-time sensitive merchandise will be boxed up and moved to the stock room.
- The sales results will not be final for days, sometimes weeks.
- The ordering process for the next season a year from now is taking place.
What does the store look like the second week into the new year? I know we will see Valentines Candies and merchandise, and the sale signs are everywhere. Winter clothes are disappearing and swim suits and shorts will soon fill the racks.
I hope your mind works somewhat like this example of merchandise in a store.
I would encourage you to start thinking about what is going to be in store for you to enjoy a year from now. It may take some planning to maximize your return for the time you invest. And time spent is an investment.
Remember you can make more money, but you can’t make more time.
Thank you for spending a few minutes of your time with me today.