Inventory Management

For Wisteria, an omnichannel retailer of distinctive home furnishings and accessories, sales growth has come easier than for a lot of other brands. The company has consistently grown revenue since its founding in 2000. Last year, for example, saw revenue increase 25 percent. What was missing — at least to Wisteria's standards — was profitability. To help in that area, Wisteria has partnered with NetSuite to deploy the software provider's SuiteCommerce and POS solutions in an effort to become a more efficient (and profitable) organization. 

Hear answers to the most-asked Amazon questions; best practices for retailers selling on Amazon; and what NOT to do on Amazon.

Coldwater Creek, a women's clothing retailer that hasn't been profitable since 2007, is planning to liquidate its assets after a bankruptcy filing that may come as soon as today, according to two people with knowledge of the matter. The company received a so-called stalking horse, a minimum bid from parties that would sell off the retailer's assets to repay creditors, said the people, who asked not to be identified because the matter isn't public. The filing would come five months after Coldwater Creek said it was exploring strategic alternatives, including a sale. 

IT investments continue to provide opportunities for sales growth at Bon-Ton Stores. This spring the retailer will introduce its Let Us Find It software in stores, linking the point-of-sale ordering system with real-time inventories to drive sales growth. This is the second largest opportunity for Bon-Ton behind e-commerce. The retailer will also use RFID technology in-store, beginning with the shoe department to confirm that all shoe styles are on display. The technology was tested last fall with dramatic results and there are plans for it to be expanded to other merchandise areas as well.

We were privileged to hear from two outstanding keynote speakers at Direct Tech's annual user conference last week in sunny, warm Orlando. (Please forgive my sigh; I'm back home in Wisconsin, where the current temperature is -10°.) One of them, Elaine Beaubien, an award-winning educator, entrepreneur, and business management and training coach, shared her observations on "innovating to survive" in a rapidly changing environment.

Amazon.com says it's hiring more than 2,500 full-time workers at its order fulfillment centers around the U.S. Amazon plans to announce Wednesday that the jobs are available in Chester, Va., and Petersburg, Va.; Coffeyville, Kan.; Columbia, S.C.; Dupont, Wash.; and Murfreesboro, Tenn. The world's largest online retailer says last year it hired more than 20,000 people at its fulfillment centers, with more than half starting out as seasonal workers. Amazon says the median income for people working at its order fulfillment facilities is higher than at traditional retailers. 

In a bid to get online orders to customers faster, Home Depot on Monday opened a new fulfillment center in Locust Grove, Ga. The 1 million-square-foot facility will open with 125 jobs, but will eventually increase that number to 300, the Atlanta-based retailer said. The company's move is part of fast-growing competition among retailers to deliver orders to consumers with more agility, often in two days or less. Online giant Amazon.com suggested in December it could push the industry even further in the next four years by using drones to deliver packages 30 minutes after a completed customer order.

When gymnasts attempt a new tumbling move, having a high-quality mat beneath their feet gives them the confidence to soar higher. So when Orbring.com, a seller of professional-quality gymnastic mats used in schools, gyms, martial arts studios and more, wanted to expand sales into multiple new channels, it knew it needed a way to proactively and confidently manage its inventory.

With Black Friday and Cyber Monday already behind us, the online holiday retail season is in full swing. For retailers who are ready, it can mean racking up a significant percentage of the year's sales. In fact, online holiday sales growth is forecasted to be in the double-digits for the third year in a row, to the tune of $78 billion in 2013, according to Forrester Research. During November and December alone, retailers will capture one-third of their total sales for the year. Are you prepared to make the most of this potentially very profitable season?

In 2012, American consumers spent $580 billion during the holiday shopping season. Holiday spending has been on the rebound since the economy began recovering. That trend is expected to continue this year. As a small business owner, it's extremely important to be prepared. Ensuring you have all the necessary inventory on hand and that your shipping procedures and marketing initiatives are in order are a few of the biggest factors that can determine the profitability of your company's holiday season. For now, let's focus on inventory. Here are some tried-and-true tips for managing inventory during the busiest season of all: