article thumbnail

7 Expert Tips Guaranteed to Reduce Inventory Costs (2020)

Retalon

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. The way you manage the inventory investments for your stores, warehouses, and distribution centers determines your success as a retailer.

article thumbnail

Shane Co. Increases Sales by 20% While Significantly Reducing Inventory

Retalon

the largest privately owned jewelry retailer in America, has implemented Retalon’s Inventory and Assortment Management solution to maintain product assortment and inventory levels across all channels. We have thousands of jewelry products and loose gemstones that all have a unique SKU number,” said Tom Shane, the Chairman of Shane Co.

Jewelry 32
Insiders

Sign Up for our Newsletter

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

article thumbnail

Shane Co. Increases Sales by 20% While Significantly Reducing Inventory

Retalon

the largest privately owned jewelry retailer in America, has implemented Retalon’s Inventory and Assortment Management solution to maintain product assortment and inventory levels across all channels. We have thousands of jewelry products and loose gemstones that all have a unique SKU number,” said Tom Shane, the Chairman of Shane Co.

Jewelry 32
article thumbnail

50 MORE Ideas to Spin the Doors on Your Stores!

Retail Adventures

Choose impulse items like candles, costume jewelry, and body lotions. Manage your customer response times. Don’t wait too long to take a markdown. Until the pandemic is under control you will need to manage your in-store events according to your state COVID-19 mandates. Your receipt guarantees it.”

Returns 83
article thumbnail

12 Critical Retail Industry Performance Metrics (2020)

Retalon

Throughout the history of retail, success and failure has come down to how well a company manages — and profits from — its inventory investment. Inventory management teams calculate the In-Stock Percentage by dividing the number of stores that have a SKU in stock by the number of stores that should stock that SKU. In-Stock Percentage.

article thumbnail

Podcast: Leveraging Analytics For Omni-Channel Success

Retalon

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. And how does the technology fit in? Another thing that retailers are trying to do today is to monitor inventory in different locations.