Go to the store location or homepage for a craft store such as Michaels Stores, Jo-Ann Fabric
Question:
Go to the store location or homepage for a craft store such as Michaels Stores, Jo-Ann Fabric and Craft Stores, or A.C. Moore Arts & Crafts (http://www.michaels.com, http://www.joann.com or http://www.acmoore.com). How does this retailer organize its merchandise in terms of merchandise group, department, category, and stock-keeping unit? Select two categories of merchandise: one you would expect to have a high inventory turnover and the other, a low inventory turnover. Explain your reasoning for each selection.
Step by Step Answer:
From the Michaels Homepage Departments Art Supplies ...View the full answer
Retailing Management
ISBN: 978-1259573088
10th edition
Authors: Michael Levy, Barton Weitz, Dhruv Grewal
Related Video
Inventory turnover is a key metric that helps businesses evaluate the efficiency of their operations. A high turnover ratio is generally considered positive, indicating that the company is effectively selling its inventory and making efficient use of its resources. On the other hand, a low turnover ratio may indicate issues such as overstocking or slow sales and may require further examination to identify and address the underlying causes. Businesses use this ratio to make decisions about inventory levels, production schedules, and pricing strategies. It also helps businesses to identify areas where they may need to make improvements, such as reducing lead times for production or optimizing sales and marketing efforts. Additionally, inventory turnover is used by investors and analysts as a key performance indicator to evaluate the financial health and growth potential of a company.
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