1. PRODUCT/SERVICE MANAGEMENT & DISTRIBUTION NICK MERCURO/EVEN KLIPPLE/AUSTIN MOORE

2. INVENTORY Accurately taking inventory is one of the most important tasks It allows companies to see… - how much of an item is sold - if their employees are stealing from them - if an item is popular (how much of it is bought and how fast) By regularly taking inventory companies are able to compare results for their last inventory

3. INVENTORY METHODS Physical Inventory - is a process where a business physically counts its entire inventory. Perpetual Inventory - A method of accounting for inventory that records the sale or purchase of inventory in near real- time, through the use of computerized point-of-sale and enterprise asset management systems. Unit Control - Inventory control system in which stock items are tracked using bin tickets and physical inventory inspection. Dollar Control System - are systems used in inventory management that reveals the cost and gross profit margin on individual inventory items. Basic Stock - Level of inventory that must be maintained to meet current sales volume or consumption, while taking order lead time into account. Model Stock Plan - mined assortment of merchandise which is in proper balance to the sales of the store

4. STEPS FOR TAKING ACCURATE INVENTORY Step 1: Develop processes for material handling in the organization. Step 2:Train employees to use the processes. Step 3: Monitor employees and implement Audits. Step 4: Implement a cycle counting procedure. Step 5: Develop a procedure for reconciling discrepancies. Step 6: Plan annual physical inventories. (Every Month)

5. STOCK INVENTORY SPREADSHEET