Know Your Inventory

About Know Your Inventory

• Origin: Our founder has 20 years of experience in helping shops manage their products. We know a lot about making sure stores have the right items to sell.

• Challenge Identified: Many stores have too much of what people don't want to buy. This is a problem because it means the store's money is stuck in products that aren't selling. We saw this happening and decided we wanted to help fix it.

• Our Solution: We use data and special measures called key performance indicators to help stores know what to stock up on and what to reduce. This way, stores can sell more and have more money for new and better products.

• 2024 Milestone: We created a new software this year to help stores easily track their sales and understand which products are popular and which are not. This tool is designed to make managing inventory simpler and more effective.

• Our Mission: Our goal is to help stores better manage their inventory so they can grow and be more successful. We provide advice and tools that help them make smarter decisions about their products.

Join us in helping stores manage their products better, leading to their growth and success.

Introducing Profit Path by Know Your Inventory

At Know Your Inventory, we've developed the Profit Path software, designed to give you a crystal-clear understanding of your business's performance. Here's how it works to empower your business:

• Daily Sales Tracker: This feature allows you to set and monitor monthly sales goals for both your store and individual employees. It helps you keep an eye on profit margins, inventory movement, and track invoices. By observing daily metrics, you can spot small trends and adjust strategies promptly, ensuring your business stays on the right track.

• Weekly Inventory Tracker: Get a comprehensive view of your store's health each week. This tool is your go-to for monitoring inventory levels, ensuring you always know what's in stock, what's selling, and what isn't.

• Monthly Open to Buy: Our most powerful feature, the Monthly Open to Buy, equips you with the insights to manage your inventory efficiently and make purchase decisions with confidence. This is your key to mastering inventory control and planning future purchases with precision.

• Quarterly Tools: Use our sales forecast tool and cycle counter quarterly to ensure your sales data is accurate and your inventory is fully accounted for. These tools are essential for keeping your business aligned with its financial goals and inventory needs.

Profit Path is here to revolutionize the way you manage your business, from tracking sales to optimizing inventory. Join us in taking control of your inventory and steering your business towards success with confidence.

People and culture

We are all about helping businesses improve. We believe in the power of tracking data to spot ways to get better and celebrate the wins.

We care a lot about the companies we help. It's tough to make improvements, but we're here to support you all the way. We aim to understand your goals and help you reach them.

As a global company, we take pride in our worldwide presence and the perspectives our employees bring from across the globe. We're committed to contributing to the global community, aiming to provide meaningful employment opportunities that allow our team members to support their families.

We see ourselves as more than a service; we're your partners in growth. Let's team up to take your business to the next level.

Profit Path:

Starting with our Daily Sales Tracker, this is your foundational step. It sets clear daily goals and tracks essential metrics like margins, sales, and how many items you're selling per invoice. It's like having a daily health check for your business, providing insights and forecasts to keep you informed and proactive.

• Goal Setting: Establishes daily targets for both the company and individual salespeople.

• Insightful Metrics: Tracks key figures like margins, sales, dollars per invoice, and the number of items sold per invoice.

• Future Glimpse: Offers a forecast of projected sales, giving you a sneak peek into potential future performance based on current trends.

Moving on, monthly assessments with our Open-to-Buy are your strategic checkpoints. Here, you're analyzing your inventory valuation and sales data to get a clear picture of your stock's health. It's about making informed decisions, identifying what's selling well and what's not, and adjusting your inventory purchases accordingly.

• Strategic Analysis: Dives deep into inventory valuation and sales data, providing a clear picture of where your inventory stands.

• Informed Decisions: Guides you on what’s working and what’s not, helping refine your approach to inventory purchases.

The third step involves using our Inventory Valuation Tracker, giving you an overview of how each department or category is performing. It's like having an eagle-eye view of your inventory, helping you understand the movement and trends at a glance.

• Comprehensive Overview: Quickly understand the movement and performance of inventory across departments or categories.

• Efficient Management: Keep a pulse on your stock levels, ensuring you’re always ready to meet customer demand.

Then, there's our Sales Forecaster, a tool designed to help you project future sales and set achievable sales goals. It's about planning for success, defining what you aim to achieve, and laying out the steps to get there.

• Goal Definition: Helps set realistic sales goals by projecting future sales based on past and current trends.

• Achievement Roadmap: Lays out clear objectives, turning "what if" scenarios into "what's next" strategies.

Lastly, accurate inventory counts are vital, achieved through our Cycle Counter. It ensures you always know what's in stock, keeping your customers satisfied by having what they need when they need it.

• Stock Accuracy: Ensures you have a precise count of inventory on hand, crucial for maintaining stock levels and customer satisfaction.

• Operational Excellence: Keeps your business running smoothly, ensuring customers always find what they need.

So, let's get started. Profit Path should be part of your strategy. Think about how mastering your inventory can set you up for success. Remember, in business, knowledge is not just power—it's profit.