Craig Cookesley, Director Solemate Software, is an expert in improving productivity and lowing costs. With over 25 years’ experience in colour and size stock control in the fashion and footwear industries, Craig has worked with manufacturers, wholesalers and retailers. He takes an integrated approach which is expandable and future proof.
Craig revealed his insider secrets in data intelligence at the Fashion Exposed Business Seminar series in Melbourne recently.
Here are his top tips;
TOP 5 DO’s
- Keep an eye on GP% per style/brand/supplier
- Use past history to predict future buying patterns
- Do Regular Stock takes
- Know you stock by brand/supplier/dept
- Link sale to customer club
TOP 5 DON’T’s
- Don’t reply 100% on gut feel
- Don’t get junior staff to stock take and check variances
- Don’t let dead stock build up
- Don’t use the wrong costing method
- Don’t expect excel to be the answer
Majority of your working capital is tied up in stock. Know it intimately and it is not the first GP but the last GP which determines the success of the style!