We have been working with a retailer to help improve their business and through this process unlocked considerable cash sitting on the shop floor and not selling. Using our Stock by Age report, we were able to list all stock by age and the value of the stock in each aged bracket.
Finding $25,000 worth of stock (wholesale value) which has been idle for more than a year would be a shock to any retailer. Rather than dwell on this we identified the stock and help develop a strategy for moving this business quickly to unlock this cash.
The Stock by Age report is one of many excellent business management reports in our Point of Sale software. We use report names which describe what the report offers – to help our retailer customers more easily see reports which help in their particular situation.
The Stock by Age report is one of the management reports we are covering in our next round of online and face to face training sessions – it’s little known but tremendously valuable.