How often do you count inventory for your retail business? The standard is twice a year, often at the end of January and the end of July. But, there is a downside to tackling this most crucial aspect of running your business in this way.  It takes time. And to get the job done accurately, with no...

Business consultant Peter Drucker once said, “Time is the scarcest resource and unless it is managed nothing else can be managed.” As a retail business owner, if this statement resonates with you, chances are, you think a lot about how to best manage the time of your employees while they’re...

This internet-driven era, with its emphasis on accessibility and convenience, is perhaps the most challenging of times for brick-and-mortar retailers struggling to keep their doors open to attract foot traffic while competing against the web traffic of online shoppers. Regardless of whether it’s...

Do you know what supply chain leaders think is the most important area of technology to invest in? It’s supply chain visibility. Not future technologies, such as drones or artificial intelligence, but rather, the technologies currently available to improve supply chain logistics, from manufacturer...

Would you agree that revenue growth depends on customer growth?  According to the 2017 State of Small Business Report, 69 percent of small businesses are expecting an increase in revenue in 2017.  But to realize that growth, it will take some doing, which is why 40 percent of small business...

Do you know how today’s sophisticated technology has changed inventory management and how it is impacting business from supplier to warehouse to consumer? According to Logistics Manager, “…retailers and manufacturers are increasingly seeing the supply chain as a source of competitive...

For your retail business to thrive in today’s Amazon-driven marketplace, you know how important it is to continually tweak strategies for improving the customer experience. After all, happy customers are key to robust sales profits. To attract new customers, whether it’s to your online store...

Retail store closings are sweeping across the country. Even though the National Retail Federation predicted a good year for retailers, “especially for brick-and-mortar stores that added an e-commerce component to their business,” a research report from Credit Suisse said “ that it’s...

Technology as tools for inventory management had retailers all a-buzz at this year’s National Retail Federation Big Show. That’s because to stay in the game, retailers must compete with Amazon, which continues to dominate the online shopping scene. To do that, retailers must have an effective...

Can your retail business absorb a yearly profit loss of two percent? This is the average hit retailers feel due to inventory loss, also called shrinkage. It’s a big problem. According to the National Retail Security Survey, in 2016, shrinkage issues cost retailers more than $49 billion. To put...

Nothing can take the place of humans in the warehouse, right? That’s true, but there is another disruptive technology rising above the horizon, and we need to pay attention. Many industries are already taking notice about the potential use of drones as another tool for managing inventory. An article...

The retail industry is at a crossroads between technology and tradition. It’s too early to tell if online versus physical shopping will balance out so that both can be available for the discerning shopper. But one thing will never change – customer service, not only for the consumer, but...

Retail businesses sure have changed since the days of the good old “general store.” Of course, general stores still exist but it would be rare these days if they don’t have a website and an online shopping cart, too. The question is, along with offering the ability to shop online,...

Spring is here and with its arrival comes that sense of wanting to spruce things up. You know, do some “spring cleaning.”  With the shift in seasons, especially in cold-weather climes, maybe now is a good time to tackle a reorganization of your inventory storage methods.  When...

Let’s get serious. About 43% of small business owners are not using technology to track inventory, or they’re using a manual process for perhaps the most mundane area of running a retail business. Are you one of them? The bigger question is, why?  It’s just crazy. If you haven’t...