Purchasing: The Importance of Your Historical Data

Tracking Inventory

Written by Bill Deery, One Step’s VIP/Enterprise Delivery Manager | September 4, 2018


I have been in the retail industry for many years and I recall walking into a retail store and talking with the owner. At the time, I was doing sales cold calling and just trying to impress upon the owner how important Computerized Inventory Control was. Now, mind you, this was in the early days of Point of Sale systems and not everyone was on the computerizing bandwagon. The gentleman loudly stated, “THEY CAN’T TRACK THE DARN KILLER BEES IN TEXAS, how the $&@# are they going to track my inventory?” I laughed, turned around, and walked out; sometimes you just have to walk away.

Now for that retailer, the old way seemed to work. This man would walk around and look at the shelves, notice an empty spot, and that meant it must be time to order. In these modern times, with cutthroat low margins and cash flow importance, that strategy would not be very wise.

If you are a Retail Purchasing Agent, you know the challenge of having the correct inventory on hand. In today’s world, most if not all of the Inventory Control software available has the ability to give you historical data: the numbers you really need to make wise buying decisions. Optimally, carrying what you need in order to make the sales you are projecting is the goal. Nobody wants to be stuck with inventory that is out of style or season and have to (must I say the dreaded words) “MARKDOWN” and take a loss!

Therefore, if you are worried about the killer bees and not optimally ordering inventory, this article may not be for you. Alternatively, if the current system you have cannot give you Sold, Received and On Order information, it is time to contact One Step Retail Solutions. We have the software tools you need in order to run your retail business based on how you have performed in the past and project performing in the future. Why make it hard? Run the numbers and optimize your ordering process.