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As a retailer, you depend upon a wide-range of metrics to understand the health of your business. Inventory management has a lot of them, but...

A stockout will often happen to retailers when they haven’t fully developed their inventory management processes. It simply means that an item...

Managing your rate of inventory turnover can be a major challenge for any retail business. Low turnover rates mean that holding costs are taking....

Theft can be one of the most costly problems for specialty retailers. Shoplifters aren’t the only ones you have to look out for because your employees...

You’ve got inventory management down to a science. You gather data and analyze the trends, but inventory shrinkage always seems to be an obstacle. So...

Competition in retail gets tougher every year. Changes in technology and how people communicate have made it even more difficult for small businesses...

While the holiday season is in full swing, another fiscal year is quickly coming to an end. It’s that time of year, again, to close out your books, so you can have a...

When it comes to retail marketing, the latest trend is experiential marketing. It combines fun and engaging activities with recent advances in technology...

We see it every day when we go to the grocery store. Some products are priced much higher than others, yet they are practically the same thing. The difference is...

Even with Amazon hitting all-time highs, 94% of all purchases are still completed in store. The biggest reason for this is that consumers want to see, feel...

Putting items on clearance does more than simply move poor performing inventory. Clearance sales can attract bargain hunters that are typically new customers...

To run a successful retail business, your company needs to be running as efficiently as possible. Any mistakes or missteps could result in lost revenue and profits...

It’s natural for everyone to feel a little self-doubt. Even successful entrepreneurs have moments of sinking confidence when a challenge presents itself...

Small business owners work hard to make their dreams become reality. They are entrepreneurs, so they are naturally driven to succeed. They are also...

A common problem for retailers is getting stuck with surplus inventory, often caused by unforeseen market shifts, new technology, or optimistic forecasting...

Retail business are open to greater risk when taking physical counts on an annual basis. Compared to cycle counts, annual counts are less accurate and interrupt...

Every retail store has a flow of customers with traffic patterns and the proper placement of top-selling products can drive more sales. But this requires...

Everyday, retailers make hundreds of small decisions regarding their business. They also have quite a few major decisions that may affect its health and...

Retailers need to make cash flow a priority or else feel the negative effects of a cash crunch. This means digging deeper into sales and operations to reduce...

Today, more than ever, our lives are being pulled into a million directions. That’s why we develop skills to help meet the demands of our modern lives...

Sometimes it’s hard to stay motivated when running a small business. Temporary setbacks and exhaustion increase stress levels, which leads to complacency...

One way to reduce your workload and free-up time is to delegate many of your less important tasks. We all know that project delegation is important...

Yes, teaching soft skills is possible, especially if your employees are eager to learn. The hardest part is taking the time to mentor them. But, if you do take...

Many small retailers have little time to spend away from their business, especially when they get started. Their everyday tasks may keep them from expanding...

Surprisingly, 46% of small businesses use a manual inventory control system. The disadvantages of a manual system greatly outweigh the advantages...