Retailing is the process of buying and selling products. To be successful you need a policy so that you buy the right product at the right price at the right time which allows you to sell it at a profit. Get the process wrong and the result can be a loss.
Many businesses work on a system where they calculate a 1% increase on the buying price for every month the product sits on the shelf in the store. To prevent this you are buying process is critically important.
