Insights

Read on as we explore five best practices that will help to tackle your inventory management iceberg to maximise profitability and customer satisfaction.

Everywhere you look, you’ll find the Pareto Principle — also known as the 80/20 rule. 20% of minerals make up 80% of the Earth’s crust, 20% of species are responsible for 80% of the world’s biomass, and in business, 20% of customers generate 80% of profits. The question is, do you know which 20% of your wholesale inventory is driving 80% of your revenue? If not, it’s time to think about ABC analysis.

Whether goods are flying off the shelves or hanging around even after deep discounts, you need to know. To find out, you need to take the pulse of inventory turnover — how quickly products sell and are replaced during a set period.

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