One example of a steering control used by retail stores is the inventory turnover ratio,which shows how hard an investment in inventory is working.

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The inventory turnover ratio is a common steering control used by retail stores to monitor the efficiency of their inventory management. It measures the number of times a company sells or replaces its inventory during a specific period, indicating how effectively the company is managing its inventory levels and replenishing stock. A higher inventory turnover ratio indicates that the company is selling its products quickly and efficiently, while a lower ratio may indicate overstocking or slow sales. Overall, the inventory turnover ratio is an important metric for retail stores to monitor and adjust as needed to optimize their inventory management and profitability.

One Example of a Steering Control Used by Retail Stores