Increase Your Bottom Line and Profitably Manage Your Inventory with The Edge
WHAT IT IS
The Aged Inventory Management System (AIMS) is a proven, systematic approach to reducing the accumulation of old inventory. It is designed to work in concert with the Weekly Buying Plan to develop a “just in time” buying strategy that emphasizes ordering in smaller, smarter quantities more frequently.
WHAT IT DOES
It manages aging inventory through a tiered system of spiffs (bonus commission) and mark downs that are applied at specific age thresholds.
Once set up, AIMS should be run once a month. Each time it is run the system will display a list of eligible items with a preview of the proposed spiff or mark down changes giving you the opportunity to review and, if desired, exclude items from repricing.
After being repriced, a bonus poster is generated to showcase items with spiff to your staff and in case signage is generated to advertise clearance items to your customers.
HOW IT WORKS
Note: You must complete setup before using AIMS. There is no undo function for AIMS; make a data backup. Remember, AIMS will give you a preview of proposed changes that you will be able to review before committing to them.
To use Monthly Aged Inventory Management:
Click OK to run the tools. The Reprice Items window will appear.
Optionally, you may wish to hide columns that are not relevant. You can do so by right clicking on the column headings and selecting Hide.
Review the items eligible for repricing. The Old columns on the left show current values while the New columns on the right show proposed changes. Select the items you wish to include and click OK.
The Bonus Poster and Signage Location Report will be generated. Print these for your use.
If you generated in case signage you can print these now by clicking Inventory → Print Signage.
EXPAND YOUR EDGE EDUCATION
Want to learn more about using AIMS? Visit EdgeUser.com and search “Aged Inventory Management” to learn how to do your initial set-up, check out best practices, and view a handy tip sheet. You can also search out “Weekly Buying Plan” to see how AIMS works within this system.