Remove Accounting Remove Dead-Stock Remove Markdowns
article thumbnail

5 Highly Effective Retail Markdown Strategies that Work in 2021

Retalon

What is a retail markdown strategy? A retail markdown strategy is a plan that describes when and how certain products should go on markdown. Having a markdown strategy is important because, all too often, markdowns are a kneejerk reaction to end-of-life inventories. ” What are markdowns in retail?

article thumbnail

7 Indicators You’re Managing Bad Inventory (and How to Fix It)

Retalon

You’ve heard it referred to as, overstocks, write-offs, dead-stock, excess, spoiled, expired, and unsold. Drastic Markdowns. Last minute markdowns that offload stock at a loss. There is constant manual intervention, this may be transferring inventory between stores or ordering new stock.

Insiders

Sign Up for our Newsletter

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

article thumbnail

The Future of Retail in the New Era of Risk

Retail Prophet

Most companies today, according to Thorbeck, are accounting only for the front-end advantage that low cost might afford them. The result is slow turns, deep markdowns, write-offs, and heaps of dead stock in warehouses, much of which eventually becomes landfill. Risks, he says, that make businesses far less competitive.

article thumbnail

Sustainable Supply Chains in 2022 (and Beyond)

Retalon

This was possible because: Talented labor in other countries was cheaper than domestic workers Overseas factories began producing high-quality products at lower prices Consumers wanted goods to be equally attainable for all financial classes Increased margins allowed retailers to stock more inventory and carry larger assortments.

article thumbnail

4 Critical Steps for Optimizing Omnichannel Order Fulfillment in 2021

Retalon

This includes everything from storing inventory, processing orders, picking stock, shipping packages, and delivering orders to the end consumer. Firstly, a BOPIS model simply pushes the optimization burden to the individual stores — as consumers tend to check individual store stock before ordering.

article thumbnail

How Predictive Analytics Are Transforming Omni-Channel Retail

Retalon

What is the optimal pricing/markdown strategy to sell off inventory by end of season while a staying away from lost sales, and dead inventory? How do you calculate optimal safety stock levels? How are predictive analytics helping retailers reduce out-of-stocks? How can the refine forecast accuracy?

article thumbnail

How Predictive Analytics Are Transforming Omni-Channel Retail

Retalon

What is the optimal pricing/markdown strategy to sell off inventory by end of season while a staying away from lost sales, and dead inventory? How do you calculate optimal safety stock levels? How are predictive analytics helping retailers reduce out-of-stocks? How can the refine forecast accuracy?