Who is this document for?
This thought leadership article is written for professionals in retail organizations in a variety of verticals who are involved with retail technology solutions, particularly in the areas of accounting or finance. This may include senior executives, information technology, merchants, buyers, finance, and more.
What will I learn about?
It’s widely understood that a retailer’s most important – albeit most expensive – asset is its inventory. To maximize profits, retailers must have the right type and amount of inventory on hand. They also must establish the value of the inventory to determine how best to price it, how much it can be marked down throughout the season, and ultimately if they should buy more of the same product or invest in something else.
In this Mi9 Retail thought leadership article, you will learn:
- the disadvantages of the retail method of accounting
- why the cost method of accounting is gaining momentum
- how to prepare for change and address resistance
- and much more.