Inventory

Michael Kors isn't very happy with the excessive discounts department stores give on its products. CEO John Idol says that come February, the brand will no longer participate in family-and-friends sales or accept coupons for its products. Michael Kors plans to cut back on the amount of merchandise it ships to department stores in an…

Every area of retail operations is vital to the success of the business. Although it might seem as if there are grand differences between them, the reality is they all share one element: the barcode scanner. From inventory control to shrinkage prevention, the barcode scanner is a central tool in any retail environment. Not surprisingly,…

Target  is asking many suppliers to take on up to an extra 3 percent to 5 percent of the cost of promotions and price cuts after slow sales so far this year. Retailers often use price discounts combined with promotions to sell slow-moving items and make room for newer products. Suppliers also have their own offers and…

The ability to collect and harness data is a key opportunity for retailers that want to truly enable a consumer-centric supply chain. According to a recent Boston Retail Partners study, 62 percent of retailers named customer identification and personalization of customer experience among their top three customer engagement priorities, more than any other initiative. However,…

We’ve all been there — going online to see if a specific piece of merchandise is currently available at a particular retail store, before taking the time to drive to said store or calling the store directly. If the online site shows that a product isn't currently available at that store (or the store location…

Retailers that manage their inventory using spreadsheets or other antiquated systems are costing themselves a lot of time, which is ultimately money lost. Not having systems in place that automate inventory management is costing retailers money. From the redundancies and productivity losses incurred from paying employees to perform manual tasks that could be automated, to…

Out-of-stock inventory continues to be a huge problem for retailers and suppliers alike. There’s nothing more frustrating for consumers than an empty shelf, and even just one instance of an out-of-stock item can have lasting consequences in terms of customer loyalty and lifetime value. Consider some recent findings from the Trading Partner Alliance consisting of…

Creating a retail assortment is like telling a story. "Every character, location and event in a story needs to be introduced and explained to an audience. Every relevant detail has to be explained, and that explanation is the element of a story which enchants a reader more than any other. It's the essence of storytelling." The…

When retailers talk about meeting the needs of today's consumers, speed is frequently cited as a differentiating factor. From speed to market with new inventory to quick checkout to expedited delivery, it seems all retailers want to do everything fast. That's why it's a little surprising to hear John Hazen, senior vice president, direct to…

Target offered a sneak peek of its upcoming Marimekko swimwear and home décor line, which features the iconic Finnish brand’s untouched, archival prints. And like last year’s wildly successful Lilly Pulitzer launch and the website-crashing Missoni collection before it, the 200-plus item Marimekko for Target collection might also sell out in a New York minute and…