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Retailers who manage the product life cycle effectively are the ones who survive the next age of commerce. They are the most competitive, most profitable, and most enduring retail operations on the market. That’s...
The apparel industry is very competitive is built around trends. What’s popular this year may not be popular next year. On top of that, the trends are seasonal. So apparel retailers have to be...
Retail chain operations managers can make their stores and chains more profitable simply by understanding the retail product life cycle better. In general, there are five distinct life cycles for any retail product. Below...
Every retailer anywhere in the world has to grapple with managing products. Each retail operation is different, so there may be different techniques and different methods of managing these four aspects of your inventory,...
Centralized product management allows you to manage your inventory efficiently, effectively, and profitably. Here are 5 ways centralized product management is better for your retail chain. Real-time inventory status – With centralized product management,...
When it comes to managing your products, every retailer can be more efficient and profitable just by monitoring in the real time the following seven necessary metrics: Purchases – Not only should you track...
In retail, product management is one of the most important operational concerns. If you don’t manage your inventory effectively, you could have tons of losses, which eat into your profits, spend countless hours looking...
Retailers can make their product management practices much more efficient is they centralize them. Rather than have each store manage its own inventory, pull it all up to the operations level where you can...
Every retail chain must manage its inventory effectively or it will lose profits. Merchandising is one of the most important aspects of the retail business and there are many ways to do it unprofitably....
Managing the location and status of your merchandise requires the ability to see things in real time. Monitoring purchases, receipts, allocations, sales, transfers, in-transit, on-hands, and all the rest of the details you need...
