How to Track Inventory, Measure Turns More Effectively

This MTD exclusive – provided by Mike Ryan, a supply chain executive with 25-plus years of experience, including nearly 10 with a major tire manufacturer – is the latest in MTD’s 2022 Tire Dealer Survival Guide series.

Your inventory is a lot like one of the maxims from the “Goldilocks and Three Bears” fairy tale. “Too much” stock and you run out of cash. “Too little” inventory and you can lose sales.

Inventory is like a shock absorber against changes in demand. Having “just enough” of the right product at the right time for your customers is a crucial component of success.

However, if you don’t have enough stock, you risk customers going somewhere else. Stock too much product and you tie up cash …

Source: MTD