Most of you own a Point-of-Sale system that helps you manage inventory and hopefully control your buying. A jeweler once told me that buying jewelry for him was like being on “crack.”
The goal – or is it a dream – that every piece you buy will eventually sell, is simply not true. Managing aged inventory becomes one of the most important aspects of running a retail jewelry business. Everyone knows this, but seldom does the owner allocate the time required to do the job efficiently.
The remedy is quite simple. It follows that the rich data housed in your POS system is as valuable as the merchandise itself. Running aging reports is never pleasant when you know you have underperforming merchandise that must go, but it is a key aspect of operating your business efficiently and effectively. Maximizing the value of your precious capital by eliminating aged inventory is one of the best business decisions you could make.
If you’re buried with old merchandise, we would love to help you get out from under it. We have helped hundreds of jewelers over the years and we’d like to help you, too. Contact us today for a confidential, no-obligation consultation.
Jeff Gordon, CEO