The Inventory Dilemma: Striking the Right Balance for Retail Success
Check your assumptions
Most in retail believe:
More options mean more sales.
They are wrong.
Having too much inventory can be detrimental to a business.
Excess inventory ties up capital that could be used in other areas of the business.
It can also lead to storage and handling costs. Excess inventory can expire or become obsolete, leading to losses for the business.
Businesses Should strike a balance and maintain an appropriate level of inventory. This will help them meet customer demand without incurring unnecessary costs.