How Are You Managing Your Bins?
In retail, one of the most efficient ways to sell a lot of merchandise, particularly at a discount, is by tossing it all into a bin. But when it comes time for inventory, you still have to account for it. That requires a bin management system that allows you to efficiently and effectively keep track of your merchandise.
Bins are popular in a variety of types of stores–music retail stores, clothing stores, book stores, outlet stores, wholesale clubs, and many more. In every case, not only do the merchandise need to be managed, but the bins need to be, as well.
Two Ways to Manage Bins In Your Stores
One of the most valuable aspects of the ChainDrive retail management solution is that you can actually manage your merchandise down to the bin. There are two ways to handle this:
- Assign each piece of merchandise to a bin, or
- Assign your bins to specific pieces or categories of merchandise
There are pros and cons to doing it either way. Rather than just dump random merchandise in a bin and start selling it, you could assign merchandise to bins based on price (you may have a $1 bin, a $2 bin, etc.). Or, you may choose to put all of a particular type of merchandise in a specific bin (for instance, paperbacks in one bin and hardbound books in another).
Another way to manage your bins is to automatically move product from a shelf to an overstock bin when the price is reduced, or it could be based on time spent on shelf. It could also be based on overstock numbers. It’s your store, you decide.
Many retailers will ship all of their overstock to one store (an outlet store, for instance) and sell that stock at a discount only at that store. Others may place bins at prominent locations in their stores and sell them based on pre-set criteria. At special times of year, you may decide to have a sale bin to move product quickly (for Christmas or Easter, for example).
How to Manage Your Merchandise Well
Merchandise management begins in the warehouse, but it doesn’t end there. It carries over to the individual store. Bins can be an efficient way to manage overstock or a particular type of merchandise you want to move out quickly or discount to encourage more purchasing. No matter how you manage the process, you’ll need assistance from a solution that is capable of managing merchandise professionally.