51. How to Manage Stock in your Jewellery Business With Resilient Retail Club

I am joined today by Catherine Erdly from the Resilient Retail Club. We’re going to be discussing how to effectively manage stock in your jewellery business. Catherine has been in the retail sector for two decades working with household names as well as independent start ups. She is also a contributor for forbes.com and has spoken at a number of trade shows. A big welcome, we look forward to this conversation!   EPISODE RECAP   Stock management is something we need to think about for our business. Where do you even begin? (3:18) What does a stock management system look like? (7:15) What come after creating the master list? (9:10) When it comes to physical product and where you keep it, how have you seen it work? (14:07) You talked about managing stock in different places, what if we have a small stock in the first place? (16:02) What about old stock? (19:00) You talked about having a goal stock number. Is the figure you use for that goal the sales price or your cost? (23:35) What is a stock take and how often do you do them? (28:14) How much stock should you have? (32:12) Are there any other areas of advice or common pitfalls you’d like to share? (36:00)   RESOURCES Resilient Retail Club Website Resilient Retail Club Instagram     Find Jewellers Academy on Instagram and Facebook!