This is a post by Alexandra Sheehan. One time, inventory management could be as simple as handwritten tracking in a notebook. As time and technology have evolved, retailers are expanding their businesses to other channels, selling more types of products, and offering more fulfillment options. With these changes to the retail industry, a more sophisticated approach to inventory management isn’t just crucial, it’s practically mandatory. There are tons of different inventory management methods to learn about. When it comes to retailers, certain approaches may be more effective than others. Below, we’ve taken a look at the more common inventory management

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How accurate are your inventory records? As a retail business owner, your inventory is in a constant state of flux. It’s virtually guaranteed that for the most part, your latest inventory records don’t match your actual physical inventory with 100 percent accuracy. That’s why you have to periodically reconcile your inventory records against your physical stock. Doing so helps you identify the source of discrepancies, improve your procedures, and prevent loss due to theft. Verifying inventory records is a monumental task even for a small business. Most companies shut down for several hours in order to perform inventory reconciliation, missing out

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