Pay off scanning for items like propane to reduce tying up inventory capital.
For slower moving, but important high-margin items, such as propane, fire wood and even flowers, look to cut deals with suppliers to pay off scanning. That means you are billed at the end of the week or month based on the amount of product you sold and recorded through your point-of-sale (POS) System. This is important because it will tie up less capital in inventory, allowing you to put your dollars to use in other areas that improve the business. These arrangements are available, but you have to ask for them.
If you have an idea to share, email it to Senior Editor Erin Rigik Del Conte at [email protected].