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Built-From-Scratch Program Eases Inventory Challenges

In 2019, Michelle and Gary Meny, owners of Meny’s True Value, purchased a third location in Ferdinand, Indiana, which was the catalyst to bring all three locations under one umbrella. Prior to opening the new location, the first two did not operate as a single entity, says Dalton Meny, their son and head of operations.

“The stores had different names, store affiliations and procedures and a definite disconnection from each other,” Dalton says. “In the past three years, we have been able to make great strides in our cohesion and are now a true multistore operation.”

Dalton was a student in the North American Hardware and Paint Association (NHPA) Retail Management Certification Program in 2022. Each student in the program is required to complete a business improvement project and for his, Dalton created an automated inventory transfer computer program. Even operating as a more-cohesive unit, the Menys found that store transfers between the three locations were still an issue, which led Dalton to tackle the challenge as part of his business improvement project.

His program automatically generates store transfer recommendations for each store that can easily be imported into the POS. It then makes recommendations for redistributing the items based on minimums, sales and other factors. Additionally, Dalton created rules and procedures to guide the suggested store transfers to avoid costly inventory discrepancies.

The system has rid the stores of surplus inventory, moving those items to another store in the operation that is out of the product or may be better suited to sell it.

“We’re also not having to order as much,” Meny says. “Now we can order more cases, which saves money, and not worry about the product getting sold because we know the program will distribute the product where it needs to go.”

The program was launched in August 2022 and in the first nine months, it transferred over $58,000 worth of inventory that otherwise would have sat on a store shelf.

“We are not only saving money, but our stores are better stocked. Our anecdotal evidence shows that a product seems to sell better when there is more of it to sell,” Dalton says. “The program is becoming more efficient the longer we use it, offering long-term positive results.”

Discover More

Hear more about Meny’s innovation at the 2023 NHPA Independents Conference held Aug. 2-3, 2023 in Dallas. During the conference, Meny will take part in a panel discussion on “Streamlining Operations Using Technology.” Learn more about their panel and the other tech topics being presented and register for the conference here.

About Lindsey Thompson

Lindsey joined the NHPA staff in 2021 as an associate editor for Hardware Retailing magazine. A native of Ohio, Lindsey earned a B.S. in journalism and minors in business and sociology from Ohio University. She loves spending time with her husband, two kids, two cats and one dog, as well as doing DIY projects around the house, going to concerts, boating and cheering on the Cleveland Indians.

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