Inventory Management

4 Inventory Management Best Practices
May 30, 2018 at 9:27 am

While an inventory management process will — and should — evolve over time, you can lay the groundwork for a successful strategy that matures alongside your business. In discussing inventory management challenges with our customers, I’ve learned how consideration and evaluation of the following practices may help your operation avoid common pitfalls while keeping your…

Buy Online, Pick Up In-Store Requires New Ways of Thinking
May 25, 2018 at 9:47 am

The staying power of buy online, pick up in-store (BOPIS) comes down to two simple facts: consumers are demanding it, and retailers need it. JDA Software’s 2017 Consumer Survey found that 50 percent of consumers had used BOPIS in the previous 12 months, a 43 percent increase over two years ago. But what about retailers? A new study by…

Retail Inventory Management Report
May 16, 2018 at 12:20 pm

While an inventory management process will — and should — evolve over time, you can lay the groundwork for a successful strategy that matures alongside your business. In discussing inventory management challenges with our customers, I’ve learned how consideration and evaluation of the following practices may help your operation avoid common pitfalls while keeping your […]

Target Testing New Product Distribution Strategy
May 14, 2018 at 12:26 pm

Target is testing a new product distribution strategy aimed at cutting down its replenishment cycle from days to hours while reducing overall inventory at stores, especially at small-format ones. Preston Mosier, Target's senior vice president of global supply chain and logistics field operations, made the announcement last week during a keynote presentation at the Retail Supply…

4 Best Practices for Managing Your Inventory
March 13, 2018 at 11:49 am

Strong sales are the backbone of a retail or e-commerce business, but inventory management can mean the difference between success or failure. Anyone who has a hand in inventory management likely understands how it might feel more like a tightrope balancing act than a business operation. While an inventory management process will — and should…

UNTUCKit Using RFID to Optimize its Inventory
March 5, 2018 at 9:57 am

In episode 133 of Total Retail Talks, recorded earlier this year at the National Retail Federation's Big Show in New York City, Aaron Sanandres, co-founder and CEO of UNTUCKit, a retailer of casual men's shirts designed to be worn untucked, and Keith Sherry, chief operating officer, SATO Global Solutions, a global barcode and RFID technology…

Automate Processes for Better Inventory Forecasting
March 5, 2018 at 9:54 am

“What decisions can technology manage better than humans?” should be the question that drives your internal operational process. For example, is there a way to automate internally transferring inventory already in your supply chain to locations in need? What about building orders to supplier minimums or logistics constraints? Can allocation of insufficient quantities be taken…

Triple Threat to Retail: Time to Close the Innovation Gap
February 9, 2018 at 1:51 pm

Traditional retailers are under tremendous pressure from online and other forces. But how bad is it? And what can retailers do to remain competitive? Formerly successful retailers like Borders, Aeropostale, RadioShack and Payless Shoes have gone bankrupt under the online onslaught. Just recently, the “category killer” Toys"R"Us filed for bankruptcy. While other retailers are keeping…

Wal-Mart to Fine Suppliers for Late Deliveries
January 31, 2018 at 1:27 pm

Wal-Mart will require suppliers to deliver more goods to warehouses exactly on time or face fines, another step in the retailer’s efforts to keep inventory low and shelves stocked as it battles with Amazon.com. More specifically, Wal-Mart executives plan to announce at an annual conference this week that large suppliers fulfill orders within a specified one- or two-day…