Workshop participants discussed effective ways to manage inventory
A Workshop on Inventory Management and Reduction of Inventory in a Store, organised by Practical Fashion Solution and EXPOCENTRE AO, has taken place within the CJF – Child and Junior Fashion 2021. Spring programme.
General Director of Practical Fashion Solution Ekaterina Eliseeva in her presentation talked about the goods handling system, in particular about the specifics of inventory management. According to the speaker, a large proportion of retailers has sold out of stock and is now ready for new purchases. The experience gained by entrepreneurs in 2020 has led many professionals to think about major changes in merchandise management. "Today, the retail industry is ripe for the digitalisation of the business," stated Ekaterina Eliseeva.
Among the most effective methods of managing product surplus, the speaker highlighted three areas:
- redistributing goods for next year's sales as part of a discount programme;
- adding old products to the new collection (where possible);
- special promotions, the so-called "flash or elimination shots".
At the end of the workshop, Ekaterina Eliseeva presented the most effective merchandise management tools that her company uses and which she recommends for all retailers in the fashion industry.
The programme of supporting events: https://www.cjf-expo.ru/en/events/
Press Service, EXPOCENTRE AO