Cut Inventory Quickly

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When business is slow, your inventory is no doubt growing and soaking up precious cash. Managing your inventory is one of the most important tasks of any retailer. Here are some ideas to reduce your inventory quickly.
  1. Cancel and or cut back orders.
  2. Return merchandise to suppliers.
  3. Negotiate exchange of existing stock.
  4. Sell stock off to other retailers.
  5. Implement instore/online specials.
  6. Merchandise old and new items together (give them a fresh approach).
  7. Get your staff involved (in any way you or they can think of).
  8. Move the timings of your markdowns forwardjust before your peak selling time).
  9. Make the most of your tax deductions (write off your dogs, save carrying costs).
  10. Sell off excess stock on Ebay or similar auction sites.
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