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Understanding the Modern Category Manager: Overcoming Daily Challenges with Smarter Solutions

Wiser

They are responsible for building a profitable, well-curated product assortment while ensuring pricing, promotions, and merchandising strategies align with business objectives. Their days are a flood of supplier negotiations, promotional planning, and cross-functional meetingsall demanding swift, strategic decision-making.

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Essential Knowledge for Streamlining Your Retail Audit Process

Wiser

Essential Knowledge to Optimize Your Retail Audit Process A well-executed retail audit provides critical visibility into everything from shelf conditions and associate performance to customer sentiment and promotional effectiveness. Photo documentationespecially for displays and endcapsensures promotional efforts are executed correctly.

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Using Prebuilt Data Models? You Should Be

Retail TouchPoints

Different departments can collaborate more easily and work toward a common understanding of the data, promoting better decision-making. Merchandising Performance model: This model helps retailers analyze the performance of their products by tracking metrics such as sales, margins and inventory turnover.

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What is Inventory Turnover in Retail? (Formulas, Benchmarks, Examples)

Retalon

One of the key inventory metrics retailers track is inventory turnover. Inventory turnover measures how many times a company sells and replaces its inventory during a period. It indicates how efficiently inventory is managed and whether excess inventory is tying up too much capital.

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How China’s Missfresh Makes Rapid Grocery Delivery Pay

Retail TouchPoints

We’ll have different promotions in the afternoon or late evening period to make sure that we’re managing a good inventory turnover,” explained Chen. “It’s It’s all due to AI that we’re able to run a fresh produce business in an efficient way with low spoilage rates and good turnover.”.

Grocer 321
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Product Substitution: How Savvy Retailers and Manufacturers can Build Supply Chain Resiliency, Reduce Costs and Improve Customer Experiences

Retail TouchPoints

They also offer discounts, promotions, free shipping and other value-added services for substitute products to make them more appealing. Using substitution tactics, retailers can recalibrate inventory levels. Soliciting feedback on customer satisfaction with substitutions helps retailers refine their policies and pricing.

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Survival guide: The keys to resilience and success in tough times

Inside Retail

Set benchmarks for inventory management, including the rate of inventory turnover and tracking and fill rate. Pricing and promotional strategies will be vital as consumers are more cost-conscious. Continue to review minimum stock limits and develop contingency plans should supply issues emerge.