Tips For A Productive Retail Inventory Day | Retail Today With Bob Phibbs, the Retail Doctor - Flash Briefing

For most stores, next week is going to have an inventory day. That's right, when they're counting everything from top to bottom. And if you are fortunate to have an inventory service, well, that's great, and you probably are running around saying do not inventory some things. But for most of the rest of retailers, this is the time of year that you want to count your inventory, both in the back, under the counter, and obviously on the sales floor. Knowing your true inventory helps cut down on theft and overbuys and out-of-stocks. And if you're looking for how to do a physical inventory, you can go on my site, retaildoc.com, and you can search for it. And I have an awful lot of tips. But the key is, the end of January theoretically, your merchandise is at its lowest point all year and all the returns have gone away, and you get a really good chance to get your data perfect. If you love what you heard on Retail Today, connect with Bob by visiting retaildoc.com or send a message to [email protected]. Thanks for listening!