Inventory Management

Engagement ring spending in the United States rose 9.2 percent in 2022 year-over-year, according to the latest data from The Wedding Report, and another 2 million-plus weddings are likely for 2023. As a result, there are going to be lots of young couples walking into jewelry stores with that gleam in their eyes, ready to…

Parents sending their kids back to school are in no mood for shopping shenanigans this year. Shoppers who might tolerate long lines, high prices, and crowded parking lots have no patience for retailers that advertise products they then don’t have in stock. That's why many retailers use modern inventory data management tools to help ensure…

Direct-to-consumer (DTC) businesses have been put through the ringer in recent years with unpredictability abound. Between supply chain disruptions, the rising costs of goods and services, and shipping delays due to global events like the COVID-19 pandemic and the Russia-Ukraine War, many businesses have been struggling to survive. To further complicate business operations, consumer spending…

It’s no surprise that starting preparations for the upcoming peak season immediately after the last is the surest way for retailers to see peak season success. However, this is often easier said than done. Ongoing economic turmoil and supply chain pressures continue to force brands big and small to focus on the here and now, often leaving little room…

In today's artificial intelligence-driven era, AI has become the go-to buzzword across industries. Retail is no exception, with a growing list of AI-based applications promising to revolutionize the way retailers operate. ShopMate, for example, uses AI to generate customizable shopping suggestions for e-commerce, personalizing the shopping experience for each customer. Branchbob.ai, an AI-powered platform, enables…

By the end of 2023, 20.8 percent of retail purchases are expected to occur online.  Experts predict that number will grow to 24 percent by 2026. On the logistics and supply chain management side, it means more customers will continue to expect top-notch service from click to doorstep. Efficiency is key to the success of any warehouse operation when it comes to order fulfilment. With the rapid advancement of technology globally, warehouses have access to a wide…

For three years, consumers have endured a crash course in supply chain economics. And while the COVID pandemic is no longer directly responsible for major disruptions, others have risen and fallen in a fluid counterpoint worthy of a Mozart symphony — from the Russian invasion of Ukraine to Chinese threats against Taiwan, inflationary trends to…

Direct-to-consumer (DTC) brands and legacy retailers are looking to increase profitability, and they can do so by improving operational processes and reducing inefficiencies. Focusing on profitability should, in theory, always be the case, but it is especially true today as economic headwinds have retail executives focused on operational cost-savings more than growth. DTC brands are…

Inventory is everything in the retail world. Without it, retailers simply wouldn’t be in business. However, most retailers today struggle with inventory management. Rising consumer expectations have made omnichannel a must. Now, retailers need to make millions of decisions about thousands of SKUs, across every possible channel each day — making it harder than ever…

The retail industry’s commitment to artificial intelligence (AI) is unmatched, surpassing all industries except finance. According to the International Data Corporation (IDC), a staggering $300 billion investment in AI is anticipated by 2026. This influx of resources promises to augment the relationship between humans and machines, delivering immense advantages to brands and consumers. There's a…