Tags |
|
|
Links |
|
|
Other Added - Creating Cash Flow with Old Inventory
It should go without saying that making a good impression on others is important for building relationships. That said, your appearance makes a big difference with how you portray yourself to others during your networking activities.Because many businesses now allow their employees to wear casual clothing, people can forget to dre
I can hear you yelling now. I'm not giving away my inventory. You are looking at your inventory from the wrong perspective. Your product is worth what a customer will pay for it.
Using the above example,let's say you sold your product at 75% off. How much did you make on that item?
<Now that everyone has conformed to Living Your Brand on the Web, Part 1, it's time to add a couple of tweaks that will further reinforce your brand.Tweak #1: Your Signature FileA signature file is the simple text that, once activated is attached to your email automatically. It is the simplest and the most effective way to g
You need to have sufficient inventory to be profitable. However, having too much inventory is a larger problem than too little inventory.
Too much inventory ties up critical cash for your business. It can also result in more damages to your merchandise. The key is to find the right price to move your merchandise. Slow moving items take up space and cash that could be used for more profitable items.
There are times you have to adjust your pricing strategy. For example, let's assume your retail price is double your cost. In this example, you pay $10 and it retails for $20. If it is a slow mover or discontinued item, what should be the new price? I would take 20% off for 1-3 months, 50% off and then 75% off.If you have to sell at 75% off, you will be selling below cost. Cost should never be a factored in marking down an item.
I can hear you yelling now. I'm not giving away my inventory. You are looking at your inventory from the wrong perspective. Your product is worth what a customer will pay for it.
Using the above example,let's say you sold your product at 75% off. How much did you make on that item?
Most franchises have a no-fly zone attached or rather an area of exclusivity surrounding the location which is written into the UFOC and attached franchise agreement. But what happens when the franchise is a mobile business? What happens when it is a mobile service franchise like a mobile dog groomer, mobile auto detailer or a sophistica
You need to have sufficient inventory to be profitable. However, having too much inventory is a larger problem than too little inventory.
Too much inventory ties up critical cash for your business. It can also result in more damages to your merchandise. The key is to find the right price to move your merchandise. Slow moving items take up space and cash that could be used for more profitable items.
There are times you have to adjust your pricing strategy. For example, let's assume your retail price is double your cost. In this example, you pay $10 and it retails for $20. If it is a slow mover or discontinued item, what should be the new price? I would take 20% off for 1-3 months, 50% off and then 75% off.If you have to sell at 75% off, you will be selling below cost. Cost should never be a factored in marking down an item.
I can hear you yelling now. I'm not giving away my inventory. You are looking at your inventory from the wrong perspective. Your product is worth what a customer will pay for it.
Using the above example,let's say you sold your product at 75% off. How much did you make on that item?
<According to a recent Marketing Sherpa article, selling ad space in your e-zine might not be a bad idea. Many e-publishers are making it work. They're selling ad space to relevant and complimentary products and services without having a negative impact on their brand image, customer perception, or conversion rate.So how do
There are times you have to adjust your pricing strategy. For example, let's assume your retail price is double your cost. In this example, you pay $10 and it retails for $20. If it is a slow mover or discontinued item, what should be the new price? I would take 20% off for 1-3 months, 50% off and then 75% off.If you have to sell at 75% off, you will be selling below cost. Cost should never be a factored in marking down an item.
I can hear you yelling now. I'm not giving away my inventory. You are looking at your inventory from the wrong perspective. Your product is worth what a customer will pay for it.
Using the above example,let's say you sold your product at 75% off. How much did you make on that item?
<The effective manager is that person who has mastered the art of delegation and empowerment. Delegation is not to be confused with dumping work on other people with a disregard for overloading them - leading to de-motivation. True delegation means giving responsibility to others - with the resources and the training to do the job.
I can hear you yelling now. I'm not giving away my inventory. You are looking at your inventory from the wrong perspective. Your product is worth what a customer will pay for it.
Using the above example,let's say you sold your product at 75% off. How much did you make on that item?
<Did you know:* 1% of all computer data loss is caused by acts of nature* 6% of all PCs will undergo an incident of data loss during the year* 30% of all data loss occurs through human error (accidental data deletion, damaging hardware by dropping a laptop, etc.)* 40% of all data loss is due to hard drive failu
I can hear you yelling now. I'm not giving away my inventory. You are looking at your inventory from the wrong perspective. Your product is worth what a customer will pay for it.
Using the above example,let's say you sold your product at 75% off. How much did you make on that item?
Your answer is probably that it was a loss of $5.This was based on a $10 cost and $5 retail. That answer is partially correct. The more correct answer is that you made $5.
You took an item that was producing zero and turned it into $5 cash. You can take that cash and space and use it for a profitable item. Many times a business does not have enough cash to buy the desired quantities of the best selling products. If you take the cash from the poor sellers and use it for good sellers, you will more than make your money back.
No matter how good a buyer you are, there will be items that don't sell. The key is to realize this and react before it ties up too much cash and profit.
An added benefit of taking care of your problem inventory is increased sales. You will get customers who will shop your store on a regular basis looking for your markdowns. Many of them will buy your high gross items also. If you take care of your problem inventory on a regular basis, your markdowns dollars will be less.
Inventory is critical to your business success. The key is to take action on the slow moving and discontinued. This will make your bottom line better in the long run.
HTTP = HTML link (for blogs, profiles,phorums):
<a href="http://www.otheradded.com/article/41826/otheradded-Creating-Cash-Flow-with-Old-Inventory.html">Creating Cash Flow with Old Inventory</a>
BB link (for phorums):
[url=http://www.otheradded.com/article/41826/otheradded-Creating-Cash-Flow-with-Old-Inventory.html]Creating Cash Flow with Old Inventory[/url]
Related Articles:
Are you Cut out to Be an Entrepreneur?
Why Hiring an Offshore Development Team Significantly Reduces your Costs
Public Relations for Dominos Pizza Concept
Bookmark it:
|