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In the context of furniture retail, where capital investments in inventory can be substantial, proactive cash flow management is crucial for maintaining financial stability and seizing growth opportunities. Inventoryturnover, or inventory turns, is defined as the inventoryturnover ratio.
Bad inventory refers to products that cannot be sold because they are either no longer functional, or there is no more demand for it. What is bad inventory called day-to-day? You’ve heard it referred to as, overstocks, write-offs, dead-stock, excess, spoiled, expired, and unsold. A low rate of inventoryturnover.
While retailers and consumer packaged goods (CPG) suppliers have had to grapple with COVID-19 and digital transformation, now they must also manage reduced capacity along the global supply chain, hampering holiday sales success. Retail workers are quitting at record rates for higher-paying work: ‘My life isn’t worth a dead-end job.’
Furniture inventory management software offers a smarter solution. It provides real-time visibility into your inventory movements across the supply chain. Powerful analytics help you optimize stock levels to drive sales, improve margins, and increase customer satisfaction. Higher turnover and availability also increase sales.
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