10 Retail Resolutions for the New Year

7. Organize the supply chain. Gaining insight into inventory can generate reliable estimates of short-, medium- and long-term demand so that services, products and distribution plans are always in place to meet expectations.

8. Beat the competition. This is a no-brainer on many retailers’ lists, but it’s time to stick to it. An assessment of key performance indicators — e.g., sales growth, inventory turns and frequency of stock-outs — will identify opportunities and gaps for profitability, process improvements and competitiveness.