Christmas, many people look forward to it all year: decorating the house, cooking enough pudding for the whole week and having a great time with family and friends. But for some people this time of the year means sleepless nights, headaches and lots of stress.
For most retailers it is the most important time of the year for sales, with longer trading hours and markdowns making sure that customers’ demand can be satisfied.
Some retailers make up to 50% of their yearly turnover in the run-up to Christmas
Especially for companies sensitive to Christmas purchases, e.g. perfumery chains or electronics shops, the weeks before Christmas are extremely important and can put a lot of pressure on its employees and its operations. In the area of inventory management, it can be a struggle to have the right goods, at the right time, at the right place. Not having the item in stock obviously leads to lost sales, while in keeping too much inventory lies a risk of obsolescence.
Diving deeper into the retail industry, it may be clear that many companies struggle to smoothly manage their operations during what is supposed to be the most wonderful time of the year. The aim of this article is to help you by providing the four inventory wisdoms for Christmas: