article thumbnail

Fashion Goes Tech: Digitalization in retail (1)

Fashion Retail

In other words, no footfall, no conversion, no inventory turnover, frozen cash flows, no business. In a business like fashion, it also means that you are increasing inventories and reducing the probabilities of selling it … More Fashion Goes Tech: Digitalization in retail (1).

article thumbnail

Why Data Will Drive the Future of Inventory Management

Retail TouchPoints

Retailers acted with agility, changing the way they planned and managed inventory in a remarkably short time. Effective inventory management plays a vital role in this — and data-led solutions can make a real difference here.

Insiders

Sign Up for our Newsletter

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

article thumbnail

Miniso’s “good quality with low price” mantra takes off in Southeast Asia

Inside Retail

In terms of store operations, all Miniso stores in mainland China are equipped with their proprietary intelligent store management system, which provides sales and inventory data in real time, as well as suggestions based on big data analysis.

article thumbnail

6 Retail Commandments You Need to Follow

Retail Smart Guys

It is not enough to keep filling up your stores, as it can only result in heavy markdowns, slow inventory turnover, higher operating costs, and disruptions to cash flow.

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. What is bad inventory called? Siloed inventory management.

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. Inventory Management

article thumbnail

How to Revolutionize Inventory Management

Independent Retailer

Next-generation analytical and planning tools interpret vast volumes of data so that retailers can predict and react to disruptions before they affect inventory levels. Common Inventory Management Headaches. Data Shaping the Future of Inventory Management.

article thumbnail

Taking the Mystery Out of Markdowns

Retail Adventures

Inventory turnover – turn – is a measure of the number of times inventory is sold within a period of time, usually a year. To determine your inventory simply divide your last year’s total retail sales by your year ending inventory at retail value.

article thumbnail

12 Critical Retail Industry Performance Metrics (2020)

Retalon

But of the myriad options, what are the KPIs in retail that will truly drive profitability and make the best use of a retailer’s substantial inventory investment? Jump Ahead Most Important KPIs for the Retail Industry in 2020 Examples of Retail KPIs that Maximize Inventory ROI 1.

article thumbnail

How China’s Missfresh Makes Rapid Grocery Delivery Pay

Retail TouchPoints

A network of in-house riders ensures orders can quickly be delivered once they’re packed, and the dispatch and packing is all coordinated by AI that monitors inventory levels, gives pickers their tasks and plans routes for riders.

Grocer 103
article thumbnail

What is Open to Buy? – definition, formula, examples

Retalon

Open to buy optimizes inventory efficiency. Inventory makes or breaks retailers. Buying too little reduces sales — and the cash you need for more inventory. Open to buy (OTB) planning lets you control inventory and stay cash flow positive. Turnover rates impact OTB.

article thumbnail

5 Good Reasons Your Gas Station Should Leverage People Counters

V Count

In this article, we will explain how a gas station can leverage people counters in order to take on challenges such as optimizing staff schedules and convenience store inventory, optimizing business operations and efficiency, understanding the type of customers, and coming up with data-driven strategies to increase both the traffic and conversion rates. Optimize Your Convenience Store Inventory.

article thumbnail

Category Management new trends to Boost Sales in 2021

Shopper Motion

They also contribute to the profitability of the company by fostering sales via marketing and in-store promotions and they manage everything related to product inventory, either they order new items or try to improve the speed of inventory turnover.

article thumbnail

How the Supply Chain Disruption Is Sparking Holiday Risk & Resilience

Rangeme

Low inventory availability led industry experts to warn that retail shelves could remain empty this holiday season. Right now, food companies are watching inventory levels like they’re as riveting as the Super Bowl. Labor constraints push Amazon to redirect inventory.