Remove 2020 Remove Inventory Management Remove Markdowns Remove Shipping
article thumbnail

7 Expert Tips Guaranteed to Reduce Inventory Costs (2020)

Retalon

More expensive than real estate, merchandising, or even labor — inventory is the largest investment your company makes. But getting the biggest return on that investment, especially in today’s tough retail environment, requires a more nuanced, data-driven approach to inventory management than most retailers are used to.

article thumbnail

An Overview of how the BOPIS Retail Strategy is Transforming the Industry (2021)

Retalon

Major retailers survived 2020 by transforming how they got their products into customers’ hands. Instead of only shipping to customers’ homes, retailers let online customers shop from their local and online store’s inventory and pick up their orders from their closest brick-and-mortar location the same day. Lower shipping costs.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

4 Critical Steps for Optimizing Omnichannel Order Fulfillment in 2021

Retalon

Maintaining margins within business constraints while efficiently providing order fulfillment to customers is a tall order, especially considering each customer purchase requires a real-time fulfillment decision within a shifting context of inventory, demand, returns, delivery times, and shipping costs.

article thumbnail

5 Major Retail Digital Transformations to Watch For in 2021

Retalon

to optimize inventory for gross margins. In effect, this means a reduction of total inventories, maximized sales, and reduced markdowns. More importantly, an analytics-driven retailer no longer reacts to sales and inventory reports, but instead proactively optimizes its business. check out their story here).

article thumbnail

Online vs. Offline Retail – Blurring the Line between Bricks and Clicks

Retalon

For starters, you need omni-channel visibility that ensures customers have access to the same inventory across platforms. You can also beef up fulfillment options so that customers can pick-up in local stores or ship directly from other stores, mirroring the convenience of online ordering. – Inventory management.

article thumbnail

The Future of Retail in the New Era of Risk

Retail Prophet

If a single image has come to define the failure of global supply chains amid the Covid-19 crisis it’s that of the Ever Given – one of the world’s largest container ships – seized in a diagonal death grip inside the Suez Canal, heavy with more than twenty thousand units of cargo aboard. Slave laborers load cotton onto waiting ships.