What do understand by Merchandise gap and How you will address it.

Question

Accepted Answer

Merchandise gap refers to the difference between the amount of merchandise a store should have versus what it actually has in stock.

Merchandise gap occurs when there is excess inventory or stockouts due to inaccurate forecasting or poor inventory management.
To address merchandise gap, I would conduct regular inventory audits to identify discrepancies and implement better forecasting techniques.
Utilizing technology such as inventory management software can help track merchandise levels accurately and prevent gaps.
Training store staff on proper inventory management practices can also help reduce merchandise gap.
Implementing a vendor management system to ensure timely deliveries and reduce out-of-stock situations.

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