Inventory Management

Artificial intelligence is more than a buzzword in retail; it's a game changer. AI-powered technologies are helping retailers enhance operational efficiency and improve everything from inventory management to marketing to customer service to driving sales and margin. However, AI’s ability to work faster and more efficiently than humanly possible has led to the persistent myth…

We’ve all been there as consumers — you stop by the store to pick up three ingredients for dinner, but discover one isn’t on the shelf. You may ask customer service whether there are extras in the back, but because most retailers take a just-in-time approach to inventory management, you’re likely out of luck. Retailers…

Retailers face immense opportunities and significant challenges heading into the holiday season. Put simply, the sales volume retailers see is typically far greater than the rest of the year, so preparations must be tight. A successful holiday sales season requires thoughtful planning and strategic use of technology to optimize operations, manage inventory, and protect against…

This holiday season will bring some unusual stressors for brands, especially those that don’t wield the same negotiating power as the biggest retail names. And with the peak season fast approaching, brand decision-makers need to prep quickly to make sure their inventory plans and logistics operations are synchronized and primed to ensure a seamless customer…

In recent years, delays and disruptions in the global supply chain have wreaked havoc on product lead times and threatened total paralysis for industries. Bottlenecks due to global conflict, shipping container shortages, never-before-seen port congestion, lack of infrastructure, and limited transport capacity and skilled labor are just a few examples of the chaotic economic environment…

In 2023, the U.S. secondhand market generated an estimated $53 billion in revenue — with no signs of slowing down. However, thrift stores, like any retail operation, must ensure they have a sound inventory flow, especially during times of donor fatigue. With the growth the industry is poised to have over the next few years,…

The pandemic exposed the retail industry’s reliance on long planning cycles, which hindered companies’ ability to respond quickly to supply chain challenges, then excess inventory, as consumer purchasing patterns and market conditions changed overnight. Industry leaders realized they didn’t have the fundamentals in place to react as quickly as the market demanded. Burned out by…

As the holiday season approaches, brands shipping direct-to-consumer (DTC) or to retailers face the significant challenge of ensuring timely product delivery. The end goal, no matter your e-commerce omnichannel strategy, is to get products in customers' hands by the holiday gift-giving season. Proper forecasting and strategic planning are essential to meet customer expectations and capitalize…

I have a confession to make: A few weeks ago I found myself buying toys for my kids — toys that they really don’t need. I hadn’t planned the splurge, but as I strolled the charming streets of San Diego, my eyes fell upon an incredible feat of store design: a gigantic wooden puppet, its…

If small business owners could clone themselves to be in multiple locations executing five critical tasks at once, most probably would. Especially if that meant they could spend more face time with customers. Carson Searcy, owner of CBS Sports, an outdoor and sporting goods independent retailer in Morganton, NC, is no exception. From kayaks and…