Remove Inventory Turnover Remove Location Remove Promotions Remove Returns
article thumbnail

4 Top Inventory Management Techniques and Best Practices

RETAIL MANAGEMENT SOFTWARE

These items need to be replaced and either returned to the vendor or donated. It is essential to keep non-sellable products separated from your regular inventory. Offering discounts and promotions are effective methods for moving stagnant inventory through the purchase cycle.

article thumbnail

Understanding Furniture Inventory Management Software in 2023

Retalon

Key capabilities include: Demand forecasting and modeling Recommendations for optimal stock levels Alerts for low stocks or slow-moving items Historical sales analysis Supply chain performance analytics In essence, the software acts like a command center for your inventory. You achieve the optimal cadence of goods moving in and out.

Insiders

Sign Up for our Newsletter

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

article thumbnail

12 Critical Retail Industry Performance Metrics (2020)

Retalon

How effective are their promotional campaigns? Jump Ahead Most Important KPIs for the Retail Industry in 2020 Examples of Retail KPIs that Maximize Inventory ROI 1. Inventory Turnover Ratio 3. Promotions Uplift Retail KPIs that Answer Questions About Customer Behavior 8. Inventory Turnover Ratio.

article thumbnail

The four essential functions of a retail POS system

I Vend

For example it enables effective marketing – using the POS for customer data tracking and to gather insights that inform and feed into creating promotions that will drive revenue and profit. This level of flexibility reduces lost sales, maximises inventory turnover and increases customer satisfaction along with revenue and profit.