Need help? Give us a call: (312) 313-1737

Critical Inventory Metrics Every Retail Owner Should Know

RepairDesk Blog | Cell Phone Repair Shop Software > Blog > Cell Phone Repair > Critical Inventory Metrics Every Retail Owner Should Know
Critical Inventory Metrics Every Retail Owner Should Know

Critical Inventory Metrics Every Retail Owner Should Know

Managing an inventory of a busy store never gets easy even if you have years of experience. Every owner dreams of having an inventory that is free from all the mishaps of running out of stock, having stock more than required limit or even worse nightmare is facing stock-outs. You can read a thousand of books to get the key of managing inventory effectively but in the end all of those books material trickles down to a few basic points.

Here are the crucial inventory metrics you should keep an eye on to have your inventory managed all the time!

  • Gross Margin Return on Investment:- In business it is mandatory to keep track of every dollar you spend and every dollar you receive after that. This not only helps you to track your profit ratio but also plays a role in inventory management as well. GMROI makes you answer the question “How many dollars have I earned after putting x dollars in my business?” It enlightens you about the success of your business.
  • Depreciation of Products:- Has it ever happened that your stock on paper showed more products than in real? This refers to shrinkage or depreciation of products that occurs due to employee theft, shoplifting, errors by administration or supplier scam. It makes you aware of the products that are missing from you inventory. Though this seems to be normal in businesses but knowing it would help you to know where you stand with other businesses.
  • Stock Turnover:- This term refers to the times your shop has sold out all the products from the shelves and got them filled again. If you monitor this closely it tells you about how well your business is performing without collecting much of stock in store. The higher the rate the more joy of brisk sales you get. If your stock is not going out much then with observance you can pinpoint the main cause.
  • Sell-Through Rate:- It takes care of the scenario where you have a number of items you have sold versus number of items your store actually had. If your sell through rate is very low you can consider returning the merchandise to the supplier or maybe can put a discount tag on those items.

Now your wish has finally granted to have the key to a perfect inventory. Make sure you follow these metrics closely and we hope you have an efficiently managed inventory.

If you feel it’s time for you to progress up to a software that could do your inventory management, feel free to join RepairDesk and become a part of the successful world of small and medium sized businesses.

Recent Posts

iPad Release notes v3.5.5

iPad Release Notes v3.5.5

Bug-Fixes: Items Sold Without Selecting Serials An issue was tracked in case of repairs, that the system was allowing to sale serialized inventory items without selecting serials. This issue has

web release notes

Web Release Notes March-III with Improved Report Design

Improvements: Employee Timesheet Report View the employee timesheet report now with the improved filter design as per other reports and better user interface. Bug-Fixes: The ‘Confirm’ button on user switch

Pre-Owned Phone

Top Pre-Owned Phone Suppliers in the USA

A shiny new cell phone is hard to resist, but unfortunately, that glittery, new flagship smartphone can burn a hole in your wallet. Look at the iPhone X and the

release notes

Web Release Notes: View Ticket Status from Invoice Listing Page & Keep Logs of Canceled Transfer Orders

RepairDesk is back with its software update schedule once again! We apologize for being a few days late this time around, but we've made sure that our latest web release is

Mac parts suppliers

Top 6 Mac Parts Suppliers in the US

It's no secret that Macs are some of the most popular computers on the market today. They're easy to use, have a great ecosystem, and their design is sure to

iPad Release Notes v3.5.4

iPad POS Register v3.5.4: Control Categories on POS & View Detailed Payment Breakdown

Improvements: Transaction Log Report With this enhancement, the total cash difference between starting and ending shift (if given) will be displayed against each payment method. Also, in case of cash

Web Release Notes

Web Release Notes: Enjoy Faster Page Loads & Control Payment Methods on Checkout

With the Spring stepping in and bringing us delight, RepairDesk is also pleased to present you another round of most requested improvements and bug-fixes to give you an enhanced user experience of

cell phone parts suppliers

The Best Cell Phone Parts Suppliers in the USA for 2019

It’s tough to imagine life without a cell phone these days. We use them every day to send important messages, take pictures for social media, or just play a quick

web release notes

Web Release Notes: Fetch Report Based on Supplier & Track Due Time from Ticket Labels

With the official start of the new season, our spring cleaning is in full swing. Although we are always working to improve RepairDesk, no matter the season, here are the updates

cellphone repair store

Everything That You Need to Start a Cellphone Repair Store!

Taking advantage of small business opportunities is one of the most enriching ventures in the professional world. Breaking away from a dull corporate routine and pursuing your ambitions to become


Ready to get started?

"Say goodbye to complicated ticket workflow and manual inventory management"

TRY FOR FREE

14 days Free Trial - No credit card required