Did you know that inventory management errors top the list of 20 supply chain risks that concern original equipment manufacturers (OEMs) the most? According to research by EPS News, which provides the latest on electronics purchasing and the supply chain, the list was “gleaned from the SEC filings...

In this new world of online shopping, what should the competitive strategy be for smaller retailers to survive?  If you run a retail business perhaps you should make the old saying, “If you can’t beat them, join them,” be your mantra, because there’s something to be said...

How do you know if the inventory management strategy you have in place for your retail business is in control? How can you tell if it’s working effectively? If you’re struggling to balance the ebb and flow of items you stock, it’s time to reassess how your inventory system is affecting...

Will this holiday season be a good one for retailers? Well, if the National Retail Federation is right with its forecasting data, retailers should expect to see an increase in sales between 3.6 and 4 percent over 2016. “Our forecast reflects the very realistic steady momentum of the economy and...

Has this ever happened to you? You go online to research the latest trend in laminated flooring for a do-it-yourself upgrade project you’re planning for your family room. You find exactly what you want at the website of a major home improvement chain and decide that since there’s a store...

Guess what’s coming sooner than you think? The holiday season, which is, of course, the most important time of year for retailers. If you want to gain profits in December, then September is the perfect time to get prepared. Early fall can be a relatively “quiet” time for retailers...

Whether you run a manufacturing or retail business, what would you say is the “secret sauce” to greater productivity and profitability? According to an article in Industry Week, it’s understanding data, and being able to effectively use that data as a management tool especially when...

Running a profitable small retail business these days is not easy, thanks to e-commerce giants like Amazon, which have significantly raised the bar for attracting customers. Even so, there is one specific thing small retailers can still do to counter this cultural shift in shopping behavior and that...

If you walked into a store for the first time and you saw unorganized shelves of merchandise, maybe even boxes of stuff cluttering the aisles, what would be your first impression? Perhaps you’d think, “Wow, this place has so much stuff. Sales must not be so great.” Or, “Wow,...

If you run a retail business, you know how important it is to keep tight control of inventory. But have you hit on the best way to get the job done?  One strategy is to train employees to count inventory on a regular basis. Certainly, doing the job in-house seems like a cost-effective way to go....

Inventory management is key to running a successful retail business so it makes good business sense to use an outside professional inventory management service to keep things in check for you on a regular basis. But what’s your strategy for maintaining tight day-to-day inventory control? Who’s...

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...