Resource

Resource Questions

1. How often do you turnover the stock in your store? If you don’t turn this over, whether through discounted sales or regular methods, what happens to the stock?
Roughly the stock is turned over every 6 weeks; this turnover would amount to about $1million. If it’s not selling then the price gets put down so it will sell.

2. If stock becomes outdated, what do you do with it?
This is generally not a problem as the stock usually sells before it gets out of date but in the odd occasion it is thrown out. If it has best before marked on it then they mark it down to sell.

3. Do you use a just-in-time inventory system (where you buy stock as you need it)? If so, how soon can the stock arrive and is this method successful?
Yes it’s a new computerised system that generates a order every week with a 2 week turnaround. The store can’t run out of merchandise because it is programmed to order before the minimum amount.

4. Obviously the Wareh...