1. Managing Inventory Keeping Inventory Fresh and Maximizing Sales

2. Managing Inventory Culling Creating a System
What is culling?
Why culling is one of the most important operations in a Thrift Store?
Creating a System
Options to identify aging inventory
Scheduling/Calendar options
Managing the process
What does the Store do after it culls?
Questions?

3. Culling What is culling? Why stores need to Cull
The process of removing aging items from store inventory in order to have Fresh merchandise for Customers to choose from.
Why stores need to Cull
Thrifters know the merchandise in a store and are constantly looking for “new” items. The “fresher” a store’s inventory the more times a customer will visit in a week/month.
The longer an item lingers in a store the less likely it is to sell regardless of what it is. If it doesn’t sell in 1 week or less the chance of it selling drops to 30% unless something is done.
Culling provides the opportunity to place new items on the floor, thus driving sales.

4. Creating a System Options to identify aging inventory
Colored tags, stickers, plastic taggers, highlighter, etc.

5. Creating a System Scheduling/Calendar options
Decide on length of the cycle (3-6 weeks)
Draw it up and follow it

6. Creating a System Managing the process Exit Strategy
Track departments that are culled to manage stock by specific category
Make good business decisions depending on availability of goods
Not all items should be culled: men’s jeans, seasonal during season, etc.

7. What does the Store do after it culls?
Clearance rack with single price point
Pound Store
Special needs donations
Recycle

8. QUESTIONS ?