Once you look into your dead stock, you will find it easy to collect dead stock. For example, in a department that is selling well, large amounts of dead stock can collect in the example I am going to quote here the shop had $80,000 worth of dead stock in the shop.
Here it was an accidental problem that as some stock did not sell, it collected but sometimes I have seen it as deliberate policy from a supplier. Its true suppliers generally want their customers to move as much stock as possible so they can sell more but sometimes they have to sell what they have, and if it's dead stock, then so be it as they have to move that dead stock too. If not watched the amount of dead stock can be huge.
That is why it is important to identify these inefficiencies and drill down on these points. When you have robust stock management like ours, you can put in place a solid stock management practice that can warn you about buying and stocking these slow moving items and help you clear out the space out for something that sells.
This is one report to use.
Go to Register reports > Stock > Slow moving Stock lines
Now call it up here
I am going to do it by department but for many shops it does work better by suppliers. One point of our retail software, it is your choice. Here I asked for anything that I had sold less then $100 in a year and am now stocking something.
What I got out of this report was pages of stock items which added up to over $80,000 of worthless stock much in this department.
This is just one report in our point of sale software that can help you expand your business and grow.
