We help small retail businesses get back to business.
Our client had millions of dollars and over 5,000 skus in what was perceived as excess inventory in over 1,350 stores across the United States. This inventory was taking up valuable space in the stores’ back room – which should be ready to receive new and fresh product. The project goal was for us to quickly identify and maximize opportunities to get rid of this excess inventory without eroding much margin.
We created a comprehensive spreadsheet that listed all of the excess skus by vendor, and provided financial metrics such as retail, cost, margin, quantity on hand, and if the item was ever attached to a buy back (meaning the vendor authorized the client to ship back the leftover merchandise at the end of the product life cycle in the past). We then organized the spreadsheet by merchandising department and had all of the merchants reach out to the vendors to negotiate a disposition (final action) on the items – with the priority on having the vendors to authorize to re-open the buy backs that had expired. Once all decisions were made, we sorted and compiled all of the information, and created a store communication that clearly outlined what action needed to be taken on each item within a specific time frame.
We coordinated the vendor buy back of $4 Million dollars of products and over 5,000 skus, freeing up space in the stores’ back rooms and saving our client the margin dollar hit to their bottom line.
– Eva Rodriguez, Senior Merchant, Office Depot Office Max
