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How AI is set to revolutionise inventory management

Inside Retail

Great product diversity, changing consumer demands, and the expansion of e-commerce have turned inventory management into a major pain point for retailers. Poor inventory management results in overstocking and under-stocking, impaired cash flow, and losses from theft and spoilage. Here are some reasons why: 1.

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Why it’s a good idea to offer payment plans to your business customers

Inside Retail

This article outlines why tapping into automated accounts receivable solutions along with offering more convenient payment plans to your business customers is a good idea and smart business practice. Why should your business provide payment plans to business customers? Happy customers are loyal customers.

Planning 264
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‘Always thank your team’ — and other management tips from a Toys R Us exec

Inside Retail

If you want to be a good manager, you should always begin with the end in mind and think of the customer at the centre, according to Rohan Cherian, Toys R Us Canada’s associate vice president of e-commerce and consumer technology. To have a seamless process in your organisation, Cherian said communicating with each other is always necessary.

Other 147
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The retail turnaround rules

Inside Retail

Sometimes, sales and margin underperformance happen quickly; on other occasions, it takes a while for management to realise they are trending downward. The first rule for managing a turnaround is acknowledging the performance problems early enough, rather than at the 11th hour, when there are few cards left in the deck to play.

Flow 130
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Suppliers: How to get your retail business customers to pay you quicker

Inside Retail

In this article, we outline how your business can strengthen its cash flow and grow by providing more payment options to retail business customers. While trade credit may be convenient for your customers as they don’t need to pay anything upfront, it can cripple your business’s cash flow when payments are late. . Boost cash flow.

Flow 355
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AI-driven solutions take supply chain planning to the next level

Inside Retail

Supply chain disruption may have become a singularly hot topic in retail circles these past years, but a focus on improving supply chain planning and forecasting is far more than just a passing trend. The systems are now being employed to manage volatility in demand and material shortages throughout the global supply chain.”.

Planning 130
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How to create an Effective Merchandising Plan

Compliantia

The good news is, with proper planning, not only can you ensure that the right, in-demand products are available to customers when they need them, but also avoid ending up with excess inventory. This is where a merchandising plan can help. What is a merchandising plan and why should retailers care? Let’s get started.