Retail Smart Guys

SEPTEMBER 2, 2022

Particularly in your inventory, which is the biggest expense every retail store has, establishing the correct level of inventory, on a department by department basis, and a location by location basis, is the most important job in retail. Proper inventory levels in all classes, at all locations, are ensured.

Planning 40

Planning Markdowns Inventory Management Location 40

Retalon

FEBRUARY 25, 2022

Whether losing sales to out-of-stocks, or facing overstocking costs and markdowns, inefficient stock replenishment has a huge impact on a retailer’s GMROI. Stock replenishment is the process of ordering and allocating inventory to replace missing products on store shelves. So, how are retailers managing stock replenishment today?

Inventory Management 47

Inventory Management Fulfillment Markdowns Location 47

Retalon

OCTOBER 8, 2020

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.

Markdowns 41

Markdowns Inventory Management Promotions Planning 41

Retalon

JANUARY 7, 2021

With seasonal product life-cycles becoming ever shorter, retailers need more strategic and granular ways to plan their seasonal assortments so they can maximize revenue while minimizing markdowns. Retailers often forget that seasonality does not apply to every SKU at every location in the exact same way. .

Markdowns 41

Markdowns Promotions Accounting Planning 41

Retail TouchPoints

DECEMBER 12, 2023

Add it all up and it’s clear that the timing duration, and location of holiday shopping is not like the old days. In this kind of shopping environment, how should retailers align their promotions and markdowns for the greatest impact? Ending the Tradition of Blanket Markdowns Enter this year’s holiday shopper.

Markdowns 245

Markdowns Retailing Pricing Promotions Fulfillment 245

M19 Retail

MARCH 22, 2021

MIAMI, FLORIDA, March 22, 2021 – Mi9 Retail, the number one vendor for tier one retailers (RIS 2021 Software LeaderBoard) that enables them to automate and optimize merchandise management and retail planning is pleased to announce a strategic partnership with Planalytics, the leading provider of weather-informed demand analytics and insights.

Markdowns 40

Markdowns Inventory Management Planning Management 40

Retalon

APRIL 26, 2021

Product clustering (or grouping) is an increasingly common technique that leading retailers use to manage their planning, inventory, pricing, promotions, and markdowns. Retailers may cluster these substitute products together to manage inventory more efficiently. It is an effective way to think about assortment.

Markdowns 41

Markdowns Promotions Inventory Management Accounting 41

Retalon

SEPTEMBER 22, 2021

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. Store-specific information about curbside or in-store pickup locations. Payment, return, and exchange policies.

Fulfillment 41

Fulfillment Payment Services Inventory Management Shipping 41

Retalon

MARCH 4, 2019

It then calculates the demand of every individual SKU across each location and/or channel and then proactively makes profitable recommendations. Every time a number is changed, the entire plan must be re-calibrated to consolidate the number and make sure it works across all locations, products etc. Inventory Management.

Inventory Management 32

Inventory Management Markdowns Planning Fulfillment 32

Retail TouchPoints

OCTOBER 3, 2023

When it came to inventory planning and optimization, stores were planned, allocated and/or replenished, and transacted with their customers entirely separately from the digital channel. Checking inventory in a local store but not placing an order? store level inventory serving local demand) into a more global matching problem (i.e.,

Fulfillment 227

Fulfillment Drop-Shipping Markdowns Shipping 227

Retalon

FEBRUARY 13, 2018

The result of unreliable projections are inventory imbalances: mistakes in planning, purchasing, and inventory management, resulting in inventory levels that don’t match actual demand. Each year, inventory imbalances cost retailers an estimated $1.1 trillion annually. Key Takeaways.

Markdowns 32

Markdowns Inventory Management Promotions Accounting 32

Retalon

APRIL 21, 2021

direct-to-consumer e-commerce orders), retailers now have to worry about fulfilling orders across multiple complex channels and B&M locations. Instead of turning every B&M store into a fulfillment node, some retailers have realized massive cost savings by centralizing fulfillment to a select few locations.

Fulfillment 41

Fulfillment Drop-Shipping Shipping Returns 41

Retalon

FEBRUARY 13, 2018

The result of unreliable projections are inventory imbalances: mistakes in planning, purchasing, and inventory management, resulting in inventory levels that don’t match actual demand. Each year, inventory imbalances cost retailers an estimated $1.1 trillion annually. Key Takeaways.

Markdowns 32

Markdowns Inventory Management Promotions Accounting 32

Retalon

FEBRUARY 13, 2018

The result of unreliable projections are inventory imbalances: mistakes in planning, purchasing, and inventory management, resulting in inventory levels that don’t match actual demand. Each year, inventory imbalances cost retailers an estimated $1.1 trillion annually. Key Takeaways.

Markdowns 32

Markdowns Inventory Management Promotions Accounting 32

Retalon

DECEMBER 8, 2021

As mentioned earlier, in its simplest form, order fulfillment is the physical process of getting a purchased product from a storage location to the customer. Is inventory stored in warehouses or in-store? Is inventory coming directly from the vendor and therefore needs to be dropshipped? What is order fulfillment?

Merchant Services 41

Merchant Services Fulfillment Drop-Shipping Shipping 41

Retalon

APRIL 27, 2021

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).

Fulfillment 41

Fulfillment Markdowns Promotions Returns 41

M19 Retail

MARCH 17, 2021

MIAMI, FLORIDA March 17, 2021 – Mi9 Retail, the number one vendor for tier one retailers (RIS 2021 Software Leaderboard) that enables them to automate and optimize merchandise management and demand planning, is pleased to announce the release of its new merchandise management mobile application (MMA).

Inventory Management 40

Inventory Management Management Markdowns Planning 40

I Vend

SEPTEMBER 20, 2022

By now, you know you need something more for your inventory management—pen and paper just aren’t going to cut it—but you still have questions about cloud-based inventory management software. Earlier this year, 56% of retail business owners said their inventory management was not accurate. What is it?

Management 52

Management Inventory Management Payment Services Markdowns 52

Retalon

NOVEMBER 19, 2018

Are the right products in stock at the right locations/channels to support the shift in demand? Are the current pricing and markdown strategies still the optimal ones based on the new forecast? What products being dropped already have substitutes being stocked? What products might also see an uplift? Contributed by Adrian Silipo.

Markdowns 32

Markdowns Fashion Inventory Management Accounting 32

Retalon

NOVEMBER 19, 2018

Are the right products in stock at the right locations/channels to support the shift in demand? Are the current pricing and markdown strategies still the optimal ones based on the new forecast? What products being dropped already have substitutes being stocked? What products might also see an uplift?

Markdowns 32

Markdowns Fashion Inventory Management Accounting 32

Retalon

AUGUST 20, 2019

The debate over bricks (physical locations) versus clicks (online stores) has long centered on several key factors, including: – Cost efficiency. If you doubt the benefit of such a strategy, just consider the speed at which Amazon has started to acquire physical locations – over 500, including Wholefoods and book stores.

Fulfillment 32

Fulfillment Comparison Shopping Markdowns Promotions 32

Retalon

AUGUST 20, 2019

The debate over bricks (physical locations) versus clicks (online stores) has long centered on several key factors, including: – Cost efficiency. If you doubt the benefit of such a strategy, just consider the speed at which Amazon has started to acquire physical locations – over 500, including Wholefoods and book stores.

Fulfillment 32

Fulfillment Comparison Shopping Markdowns Promotions 32

Retalon

AUGUST 16, 2019

Delivering an experience that feels personalized to shoppers, while also… Creating a consistent experience across retail locations and channels so that customer can enjoy the comfortable familiarity of your brand. Any business that caters to a consumer marketplace deals with 2 common challenges.

Fulfillment 32

Fulfillment Customer Experience Markdowns Consumer 32

Retalon

AUGUST 16, 2019

In any business undertaking that caters to a consumer marketplace, there are two major challenges – delivering an experience that feels personalized to shoppers, while simultaneously creating a consistent experience across retail locations and channels so that customer can enjoy the comfortable familiarity of your brand.

Customer Experience 32

Customer Experience Fulfillment Markdowns Consumer 32

Retalon

JULY 4, 2018

Opening new stores can be expensive and risky, which is why many retailers have began connecting with their customers through Facebook, mobile apps, e-commerce stores, and pop-up/kiosk locations. Usually by purchasing more inventory they already have in other locations, or marking down inventory that is selling too slow.

Promotions 32

Promotions Fulfillment Shipping Markdowns 32

Inside Retail

JUNE 20, 2023

By adjusting prices in real time based on this analysis, retailers can increase revenue, reduce markdowns, and remain competitive in a constantly changing market. The question is how customers will respond when they become aware that prices shown may change from day to day, depending on their location or the volume of other buyers.

Markdowns 130

Markdowns Inventory Management Marketing Promotions 130

Retalon

SEPTEMBER 23, 2020

Yet, despite these challenges, some traditional retailers are managing to grow year-over-year, shredding previous sales records time and time again. To effectively manage and organize their data, many businesses turn to Business Intelligence tools. Promotions and inventory management). Business Intelligence.

Accounting 47

Accounting Markdowns Management Inventory Management 47

Retalon

SEPTEMBER 29, 2014

This means that a store must not only carry enough inventory to satisfy forecasted demand, but also additional stock to satisfy any online or mobile orders that will be fulfilled though their location. The only way to achieve this feat is to accomplish all of this proactively. How do you build a smart fulfillment strategy?

Fulfillment 36

Fulfillment Markdowns Shipping Inventory Management 36

Retalon

SEPTEMBER 29, 2014

This means that a store must not only carry enough inventory to satisfy forecasted demand, but also additional stock to satisfy any online or mobile orders that will be fulfilled though their location. The only way to achieve this feat is to accomplish all of this proactively. How do you build a smart fulfillment strategy?

Fulfillment 32

Fulfillment Markdowns Shipping Inventory Management 32

M19 Retail

APRIL 14, 2021

The multiplication of choices induced by this model translates into a drop in productivity of the physical store space and an increase in markdowns at the end of the season to sell unsold products. Retailers today group stores based on a combination of a limited number of attributes such as volume and location.

Point of Sale 52

Point of Sale Management Markdowns Accounting 52

Retalon

NOVEMBER 29, 2014

This means that a store must not only carry enough inventory to satisfy forecasted demand, but also additional stock to satisfy any online or mobile orders that will be fulfilled though their location. The only way to achieve this feat is to accomplish all of this proactively. How do you build a smart fulfillment strategy?

Fulfillment 32

Fulfillment Markdowns Shipping Inventory Management 32

Retalon

JULY 15, 2019

Not only do overstock situations force retailers to markdown inventory at the end of a season at slim-to-no profit margins, but it also takes up physical space in stores warehouses, accruing carrying costs, and ties up extra cash that could be used towards advancing business goals. How much safety stock is ideal?

Markdowns 32

Markdowns Promotions Inventory Management Planning 32

Retalon

AUGUST 5, 2020

The inventory sitting in stores and warehouses is the single biggest investment that a retailer makes. Throughout the history of retail, success and failure has come down to how well a company manages — and profits from — its inventory investment. How to Improve Inventory Turnover Ratio. In-Stock Percentage.

Inventory Turnover 41

Inventory Turnover Promotions Merchant Services Markdowns 41

Retalon

OCTOBER 18, 2013

One of them is they try to manage inventory inside, sometimes they use a term, turning all my stores into one large distribution center rather than buying or catching a next purchase order from the vendor. Another thing that retailers are trying to do today is to monitor inventory in different locations.

Markdowns 32

Markdowns Promotions Planning Accounting 32

Retail Prophet

JULY 18, 2022

McClean had managed to reduce the cost of loading and unloading cargo from $5.83 The result is slow turns, deep markdowns, write-offs, and heaps of dead stock in warehouses, much of which eventually becomes landfill. The myopic focus on low price has lead to an epidemic of markdowns and dead stock. per ton to just 16 cents.

Dead-Stock 59

Dead-Stock Shipping Merchant Services Markdowns 59