List your top sellers, your next best sellers and items that have sold the least.4. Balance inventory by knowing your inventory turnover rate.
Hire stock either by participation or with the employ of stock control software; there are some model user-friendly ones out there. Whichever method you choose, even if you have an online quilt shop, it has to be accurate and timely.
2. Divide your inventory into three categories: fabrics by theme and by maker; tools like hoops, frames and cutting mats; and notions like needles, pins, thimbles and thread. Calculate your total inventory value including storage, insurance and taxes.
3. Decide which items are quick turn-around items, like straight pins and needles, and get rid of obsolete and slow moving merchandise, like outdated books and things on sale.Stock control is a must in any craft, however it should be at the top of the dossier for quilting shops owing to you desideratum to inventory so many at variance items. Credit of your quilt shop stock as your cash flow thanks to what doesn't sell by the butt end of the year is considered component of the firm's assets.
Instructions
1.Find this number by dividing the cost of goods sold annually, by your average annual inventory investment. This will keep you from becoming overstocked, which makes taking inventory more difficult and increases your financial risk.
