3 Tips for Managing Your Retail Merchandise More Efficiently
Enterprise Apps Today recommends that you choose a supply chain solution that is tailored to your specific industry:
“There are hundreds of off-the-shelf supply chain software packages or component modules on the market today, and most implementations end up requiring some level of customization and integration with other systems,” said John Freund, CEO of JumpTech. “Do your homework and start your research with systems that were designed for companies in your industry, or that are similar to yours in some key aspect. Odds are your project will end up in the ‘better, cheaper, faster’ category that way, and you’ll likely get a number of handy system features you won’t get if you venture too far afield from your space.”
That’s good advice, and it foreshadows our own advice about managing your merchandise more efficiently. Here are our three best tips for helping you do that.
How to Manage Your Retail Merchandise the Right Way
- Pick the Right Software for Your Company – You are better off managing your merchandise using a solution that is tailored to your company. That means picking one that you can integrate into your current retail management solution and that will help you more efficiently buy and sell according to the schedule that works best for your retail operation.
- Measure Your Buying and Selling Cycles – Few things in retail management are as important as having the right analytics package. You know the old adage, “You can’t change what you don’t measure.” Increase your business intelligence with retail analytics that will show you the data you need to see when you need to see it. Manage your entire operations–from product purchasing to selling–with the right analytics solution.
- Manage Your Warehouses More Efficiently – Your store managers can manage your merchandise at the store perfectly and you can still lose money on product by having an inefficient warehouse system. Manage your warehouses more effectively and you can increase your bottom line on product many times over.
When it comes to efficient merchandising, you need a solution that can rock your retail operations from top to bottom. Buy the right product, sell the right product, and price the product correctly for the right customer. Do it on time every time with ChainDrive’s Retail Management Solution. When you get it right, you’ll know it, and so will your customers.
