Remove Fulfillment Remove Inventory Management Remove Markdowns Remove Returns
article thumbnail

Preparing for the Rise in Online Retail Returns

Retail TouchPoints

In 2021, returns cost retailers a whopping $761 billion , or almost 17% of total U.S. This year the powerful combination of the special sale dates in Q4 (like Target, Amazon and Walmart holding October Black Friday events) and an increase in ecommerce holiday shopping means that this upward trend for returns will continue.

Returns 285
article thumbnail

Facts about Inventory Management

Retail Smart Guys

Facts about Inventory Management. The retail industry is constantly changing, and inventory management gives a better understanding of this inconsistent landscape. Additionally, it helps in having a proper cash flow in your business since you are spending money on an inventory that sells and is not stagnant.

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 Top Inventory Management Techniques and Best Practices

RETAIL MANAGEMENT SOFTWARE

Do you know how to manage your inventory as effectively as possible? What are the inventory management best practices? If you can’t answer these questions, it’s time to reconsider how you manage your inventory. These items need to be replaced and either returned to the vendor or donated.

article thumbnail

4 Critical Steps for Optimizing Omnichannel Order Fulfillment in 2021

Retalon

Omnichannel order fulfillment that drives customer experience (and boosts profits). Although the trend towards omnichannel fulfillment is not new, the pandemic changed many retailers’ business models almost overnight, and these changes are not going away. What is omnichannel order fulfillment in retail?

article thumbnail

The Order Fulfillment Process in 2022 and Beyond

Retalon

Why should retailers care about their Order Fulfillment Process? Order fulfillment may seem like a fairly straightforward process and according to the generic “high-level” definition, it is. In today’s market, putting the right fulfillment system in place gets you a competitive edge. What is order fulfillment?

article thumbnail

7 Indicators You’re Managing Bad Inventory (and How to Fix It)

Retalon

Bad inventory is an expensive problem. Trillion annually as a result of bad inventory. Managing inventory becomes exponentially more complicated as a retailer grows; and often becomes an overwhelming challenge. Indicators you’re managing bad inventory. Drastic Markdowns. Siloed inventory management.

article thumbnail

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

Retalon

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. A retail fulfillment process that is known as BOPIS — Buy Online, Pickup In-Store. Payment, return, and exchange policies.