RETAIL MANAGEMENT SOFTWARE

MARCH 11, 2022

Do you know how to manage your inventory as effectively as possible? What are the inventory management best practices? If you can’t answer these questions, it’s time to reconsider how you manage your inventory. Inventory management best practices enable you to run your business most effectively and profitably.

Inventory Management 91

Inventory Management Management Inventory Turnover Drop-Shipping 91

Inside Retail

JANUARY 30, 2024

These technologies are helping retailers achieve efficiencies in operational functions including staff deployment and management, customer service, shrinkage reduction and lifecycle pricing. And that’s where your Workforce Management systems come into play,” says Bretherton. They also need clarity around what they need to do.

Loss Prevention 147

Loss Prevention Shrinkage Inventory Management Markdowns 147

Retalon

APRIL 14, 2021

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?

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Markdowns Dead-Stock Promotions Planning 41

365 Retail

SEPTEMBER 16, 2021

The ability of AI science to take into account cross-item effects, such as halo and cannibalization, gives merchants and pricing professionals a holistic view of how a single price change or promotional offer will affect a category overall. Cross-Item Effects at Your Fingertips.

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Markdowns Promotions Accounting Planning 98

Inside Retail

AUGUST 25, 2022

Suppliers were going broke left, right and centre, so it was all about the efficient management of inventory. But the biggest risk is buying and the efficient management of our working capital. Of course, you also have to manage costs, but that’s always important. We also had a forensic focus on our inventory stock turn.

Drop-Shipping 130

Drop-Shipping Markdowns Management Shipping 130

M19 Retail

APRIL 14, 2021

The multiplication of choices induced by this model translates into a drop in productivity of the physical store space and an increase in markdowns at the end of the season to sell unsold products. This complexity requires more planning effort than only large data analysis and algorithms using artificial intelligence can help manage.

Point of Sale 52

Point of Sale Management Markdowns Accounting 52

Retalon

NOVEMBER 20, 2020

Price optimization and price management are terms that often are used interchangeably, but they are not the same thing. When used properly, both price management and price optimization can substantially affect a retailer’s profitability. You cannot optimize prices without managing them, however.

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Management Markdowns Accounting Retailing Pricing 41

M19 Retail

MARCH 17, 2021

MIAMI, FLORIDA March 17, 2021 – Mi9 Retail, the number one vendor for tier one retailers (RIS 2021 Software Leaderboard) that enables them to automate and optimize merchandise management and demand planning, is pleased to announce the release of its new merchandise management mobile application (MMA).

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Inventory Management Management Markdowns Planning 40

Retail Gazette

MARCH 11, 2024

to £288.6m, which it attributed to the improved profitability to its sales performance, tight control of markdown, effective cost management, and positive movements in input prices. to £1.15bn due to price increases, however EBITDA plunged 37.2% to £124.1m and operating profit before exceptionals spiralled almost 80% to £18.7m.

Markdowns 59

Markdowns Fashion Accounting Planning 59

Retalon

FEBRUARY 10, 2022

Managing inventory becomes exponentially more complicated as a retailer grows; and often becomes an overwhelming challenge. Indicators you’re managing bad inventory. Drastic Markdowns. Last minute markdowns that offload stock at a loss. A high cost of overstock management. Siloed inventory management.

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Management Inventory Turnover Inventory Management Dead-Stock 41

Retalon

JUNE 29, 2013

In order to achieve this there is a lot of thought put into inventory management, allocation, and replenishment processes. For Example: When products don’t sell well at specific stores, retailers are forced to markdown inventory in order to clear the inventory. Originally Published on PA Times. However, not all solutions are equal.

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Inventory Management Management Markdowns Fulfillment 32

Retail Gazette

MARCH 11, 2024

According to recent Companies House filings, the retailer said its board took “decisive actions” to manage the impact of Covid-19 on the business by significantly reducing costs and enhancing liquidity. in its second quarter, with sales up 0.8% in its second quarter, with sales up 0.8%

Markdowns 52

Markdowns Fashion Accounting Management 52

365 Retail

FEBRUARY 17, 2022

With 330 bricks-and-mortar stores globally, its digital fashion offering, available in both the UK and US, has experienced fast-growth, and now accounts for 40% of its sales. “Pacsun wanted to proactively manage the costs created by the increase in our online sales,” said Mike Relich, Co-CEO of Pacsun. “By

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Markdowns Fulfillment Shipping Fashion 52

I Vend

OCTOBER 26, 2024

Flawless inventory management is therefore one of the most effective things you can do in order to reduce costs and maintain smooth operations. iVend’s Retail Management Solution iVend helps retailers around the world manage their inventory efficiently. Either way, the result is a negative impact on your profits.

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Inventory Management Point of Sale Management Markdowns 52

365 Retail

DECEMBER 3, 2021

Unify by DemandTec includes four initial applications, available together as a platform or separately: 1) DemandTec Autonomous Pricing, 2) DemandTec Autonomous Promotions, 3) DemandTec Autonomous Markdowns, and 4) DemandTec Autonomous Collaboration. Unify by DemandTec is the first of its kind.

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Markdowns Promotions Retailing Pricing Accounting 52

Retalon

JANUARY 7, 2021

With seasonal product life-cycles becoming ever shorter, retailers need more strategic and granular ways to plan their seasonal assortments so they can maximize revenue while minimizing markdowns. Account for more variables in your seasonal merchandise planning. This is most obvious when a promotion doesn’t take inventory into account.

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Markdowns Promotions Accounting Planning 41

Retalon

JANUARY 17, 2022

Granted, many retailers have developed pricing strategies that account for multiple factors affecting product price, such as; Production and distribution costs Competitor pricing Revenue goals. So, it came as no surprise when Gartner reported an increasing number of retailers are looking to invest in price management analytics solutions.

Retailing Pricing 41

Retailing Pricing Markdowns Promotions Accounting 41

Retalon

FEBRUARY 24, 2022

Other benefits of OTB management include: More flexible inventory. Fewer markdowns. Essentially, OTB is a purchasing plan which takes into account current inventory levels and projected sales for a set time period. Where you expect to finish is your closing inventory plus your planned sales and markdowns. OTB management.

Markdowns 41

Markdowns Inventory Turnover Accounting Planning 41

365 Retail

JUNE 5, 2024

Optimizing Inventory Management Proper inventory control is crucial for any retail business. Enter smart inventory management systems. Advanced inventory management software integrates with point-of-sale systems, monitoring every sale and tracking stock levels. Read on for more insight! But how do they work?

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Payment Services Inventory Management Checkout Inventory Turnover 52

Retalon

JUNE 10, 2020

Pricing right is the fastest and most effective way for managers to increase profits.” ( McKinsey & Company ). may cover generic approaches to managing and optimizing price for any given product, but they don’t account for the most critical variables that determine your pricing success.

Planning 41

Planning Markdowns Promotions Accounting 41

Retalon

SEPTEMBER 11, 2020

Often resulting in inventory distortion that lead to lost sales and costly markdowns. Traditional analytics relies too much on past sales to plan and manage inventory. For instance, many retailers run promotions while lacking integration between promotion and inventory management processes. Your business changes year to year.

Fashion 41

Fashion Markdowns Promotions Accounting 41

Retalon

MAY 10, 2024

One way that OTB funds can be managed is by categories, such as women’s wear in the apparel department. At home, the gift budget may need to be significantly higher in December than in January to account for holidays. Managing inventory levels is key to reducing carrying costs. Decide at which level the budget will be set.

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Planning Markdowns Merchant Services Payment Services 41

Retalon

MAY 10, 2024

One way that OTB funds can be managed is by categories, such as women’s wear in the apparel department. At home, the gift budget may need to be significantly higher in December than in January to account for holidays. Managing inventory levels is key to reducing carrying costs. Decide at which level the budget will be set.

Planning 41

Planning Markdowns Merchant Services Payment Services 41

Retalon

FEBRUARY 15, 2022

Price elasticity of demand, meaning the effect that a set price will have on demand, is an important consideration when setting prices, running promotions, or markdowns. Unfortunately, approximations often lead to lost sales, drastic markdowns, and unfulfilled potential. Identifying and accounting for relevant factors.

Markdowns 41

Markdowns Inventory Turnover Fulfillment Accounting 41

Mass Relators

JUNE 21, 2021

got off to a fast start in fiscal 2021, as top- and bottom-line results for the first quarter exceeded the expectations of both management and Wall Street. GOODLETTSVILLE, Tenn. Dollar General Corp. Net income for the quarter ended April 30 increased 4.2% million, or $2.82 per diluted share, well ahead of the consensus estimate of $2.19

Payment Services 52

Payment Services Markdowns Apparel Accounting 52

Retalon

OCTOBER 8, 2020

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.

Markdowns 41

Markdowns Inventory Management Promotions Planning 41

Retalon

APRIL 26, 2021

Product clustering (or grouping) is an increasingly common technique that leading retailers use to manage their planning, inventory, pricing, promotions, and markdowns. Most commonly, retailers use geographical clusters to better account for demographics, distribution cost, climate, and other relevant factors to their business.

Markdowns 41

Markdowns Promotions Inventory Management Accounting 41

Retalon

FEBRUARY 25, 2022

Whether losing sales to out-of-stocks, or facing overstocking costs and markdowns, inefficient stock replenishment has a huge impact on a retailer’s GMROI. Replenishing stock is a key facet of inventory management which helps to balance inventory levels during a selling period. What is replenishment? What is replenishment stock?

Inventory Management 47

Inventory Management Fulfillment Markdowns Location 47

Retalon

JULY 28, 2021

Simply put, seasonal demand forecasting is a type of advanced demand forecasting that takes into account the many complex variables of predicting the performance of seasonal products (non-evergreen products). Retailers either lose sales and customer satisfaction due to inventory shortages or face drastic and expensive markdowns.

Markdowns 41

Markdowns Inventory Management Accounting Management 41

Retalon

JULY 28, 2021

Simply put, seasonal demand forecasting is a type of advanced demand forecasting that takes into account the many complex variables of predicting the performance of seasonal products (non-evergreen products). Retailers either lose sales and customer satisfaction due to inventory shortages or face drastic and expensive markdowns.

Markdowns 41

Markdowns Inventory Management Accounting Management 41

Retail Prophet

JULY 18, 2022

McClean had managed to reduce the cost of loading and unloading cargo from $5.83 Most companies today, according to Thorbeck, are accounting only for the front-end advantage that low cost might afford them. The myopic focus on low price has lead to an epidemic of markdowns and dead stock. per ton to just 16 cents.

Dead-Stock 59

Dead-Stock Shipping Merchant Services Markdowns 59

Retalon

JANUARY 20, 2014

Retalon has helped businesses plan their operations, optimize prices and markdowns, and ensure efficiency in supply chain and inventory management processes. From inception, Retalon’s analytics have been built on a common analytic platform that takes into account the entire retail business process. FREMONT, Calif.–Nov

Markdowns 32

Markdowns Inventory Management Accounting Promotions 32

Retalon

OCTOBER 24, 2023

This overstock issue is not new, and retailers have tried to manage their unsold goods through donations and resellers, but there is simply too much inventory. The direct and indirect damages of lost sales are so great that retailers prefer to markdown unsold inventory, or even get rid of it at cost. Billion in overstocks.

Markdowns 41

Markdowns Fast Fashion Consumer Accessories 41

Retalon

FEBRUARY 14, 2022

This overstock issue is not new, and retailers have tried to manage their unsold goods through donations and resellers, but there is simply too much inventory. The direct and indirect damages of lost sales are so great that retailers prefer to markdown unsold inventory, or even get rid of it at cost. Billion in overstocks. Brand Image.

Markdowns 41

Markdowns Fast Fashion Consumer Accessories 41

Retalon

FEBRUARY 13, 2018

The result of unreliable projections are inventory imbalances: mistakes in planning, purchasing, and inventory management, resulting in inventory levels that don’t match actual demand. The problem stems from business intelligence, buyer intuition, or company targets lacking the ability to account for all factors that affect demand.

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Markdowns Inventory Management Promotions Accounting 32

Retalon

FEBRUARY 12, 2021

If your predictions are inaccurate (or your assortment plan fails to reflect consumer demand) — you’ll be facing out-of-stocks, markdowns, and unhappy customers all year. But if you manage to predict consumer demand accurately and plan your assortment accordingly — you’ll rake in the profits. This is easier said than done.

Planning 41

Planning Accounting Markdowns Store Layout 41

Retalon

JUNE 18, 2019

The math needed to account for these effects is hard enough. Keep in mind that promotions are not the same part of a product’s pricing lifecycle as Markdowns. In contrast, markdowns are permanent changes designed to clear inventories at the season’s end. All this down to the Store/SKU level. appeared first on Retalon.

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Promotions Markdowns Inventory Management Payment Services 32