Inventory Management

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…

In the early 2000s, as smartphones and internet access transformed shopping habits, Best Buy revitalized its brand with a buy-online-pick-up-in-store (BOPIS) option, offering pickup within 45 minutes. At the time, Best Buy’s strategy was considered a bold and innovative response to customers shifting omnichannel purchasing preferences. Today, this experience is par for the course, offered…

In the omnichannel retail world, inventory optimization is more important than ever before. Retailers need to get the right products to the right places at the right time to satisfy demand in an efficient and profitable way — no matter how, when or where their customers choose to shop. With this in mind, many retailers…

Every year, designers push creative horizons, unveiling innovative styles that push the boundaries of traditional design and showcasing new and unique items that align with current trends. Some of these new pieces quickly capture retailers’ attention and become best-sellers, while others fade into obscurity. Retailers are also dealing with past trends making a comeback while…

Mastering inventory for special events and seasonality is a key ongoing challenge for retailers of every kind and size. The ebb and flow of sales during festive seasons, promotions, shopping days, and holidays can pose significant hurdles for inventory management. Retailers often find themselves grappling with excess inventory after a season or scrambling to meet…