Focus on the Fundamentals - Page 8 of 9

By Ray Goodman

Know what products you need to have on hand, when you need them and the true costs of acquiring them.
Set budgets, and check routinely, at least monthly, if not weekly, to be sure spending is within these budget limits.
Focus on the products that need your attention most, using hot lists and exception reports so you’re not wasting time on those that don’t require intervention.
Shorten reaction times to eliminate costly delays in availability and delivery.
Simplify metrics, and regularly measure performance against them.

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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.

Inventory Management: Focus on the Fundamentals