A case for continuous inventory

By Ray Goodman

Best of all, continuous inventory allows you to compare actual demand vs. forecasted demand to keep purchases at the level necessary for optimum buy quantities and minimized shipping costs. Create “hot” lists to know what to buy and when to receive it to meet projected sales. You can also use hot lists to identify products you’ll be long or short on. Then respond accordingly by acquiring additional product to meet increased demand, creating specials and promotions that reduce anticipated excess inventory, or using alternative channels.

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Companies:
Direct Tech Inc.

People:
Goodman

Ray Goodman Author's page Ray has been a consultant to various direct marketing companies across the country. His goal is to streamline the merchandising and marketing planning processes inherent in multichannel marketing. He works closely with clients and industry experts to develop new methodologies and tools for merchandising and inventory control. He says, "It's exciting to work with our staff customers to help evolve our applications. I'm proud of the way our staff works together to bring our visions from concept to product." Ray has been with Direct Tech since 1994. His primary responsibility is directing the development of Direct Tech products. He's been a featured speaker on inventory forecasting and management at various industry conferences.

See the Future, Then Stock the Future