After the stocktake, many of our clients discovered that they are carrying many old items. These items are clearly not moving fast so actions need to be taken immediately. If not, then you may be forced to make large discounts in clearance sales soon to free up cash and space as above.
There are two other points here.
1) There may be much more missed.
2) You may have overbought.
Say, for example, you had last year ten items. You sold eight. Then you purchased five more, so you have seven now. You have overbought as you did not need to buy the five.
In your Point of Sale system, we have a quick analysis in seconds to identify your old inventory on the shelves. Click here for a training video on how to identify such stock.
Please check immediately for any stock you are carrying that are over 12 months old.