10 Steps to a Better Holiday Season - Page 4 of 14

By Ray Goodman

1. Prepare an inventory budget, and review it weekly. Know your cash limitations related to placing purchase orders, and live within those limits. If you have surprise hot sellers that you need to reorder, this budget review helps determine whether you have cash available to place the orders or if you need to free up cash by adjusting other orders.

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Ray Goodman Author's page Ray has been a consultant to various direct marketing companies across the country. His goal is to streamline the merchandising and marketing planning processes inherent in multichannel marketing. He works closely with clients and industry experts to develop new methodologies and tools for merchandising and inventory control. He says, "It's exciting to work with our staff customers to help evolve our applications. I'm proud of the way our staff works together to bring our visions from concept to product." Ray has been with Direct Tech since 1994. His primary responsibility is directing the development of Direct Tech products. He's been a featured speaker on inventory forecasting and management at various industry conferences.

Inventory Management: 10 Steps to a Better Holiday Season