The Ticket Summit® Plus 2013 Spring webinar series wrapped up this week with Improve Your Inventory Management!, a free webinar led by Scott Barrows, CEO of Symbioticks and Epic Inventory Management. Barrows provided tips on how to boost inventory efficiency and discussed the obstacles that brokers face in their daily operations.
Barrows stressed the importance of using numbers and analytics in managing inventory. “Don’t steer a rudderless ship,” he said. Analytics allow brokers to determine essential elements of their business, like how much it costs to sell a ticket, and to increase their ROI.
He also discussed how automation technology, provided by companies like Ticket Utils, Cloakify, and more, can streamline a broker’s business. Likewise, utilizing e-tickets can increase efficiency, though e-tickets should be protected to the same degree as hard stock.
Effective pricing can also increase a broker’s ROI. Barrows finds it useful to keep a set pricing schedule, so that his staff is constantly pricing tickets. He also advocates rewarding staff for pricing well.
For Barrows, people are just as important as inventory. When you identify and use the strengths of your staff efficiently and well, you streamline the process and increase your ROI, he said. He added that you shouldn’t let your inventory manage your life, and stressed the importance of continuing to educate both yourself and your staff.
Barrows will be among the speakers at Ticket Summit® this summer, and Symbioticks will be exhibiting at booth 116 at the Ticket Summit® trade show. Be sure to visit them there!