How to Calculate OTB
In retail planning, open-to-buy (OTB) is one of the most important concepts to understand. By calculating your OTB you can ensure maximum profitability and keep your inventory management practices on target. Here are the...
Tagged: inventory
Including Guests In Home Decor
Every year around this time, the reality of overnight guests, dinner guests, party guests, and other sorts of guests spurs last-minute runs to the store. Home decor retailers should be prepared for questions like,...
Optimize Product Life Cycles With The ChainDrive Matrix
The Merriam-Webster dictionary defines a matrix as something within or from which something else originates, develops, or takes form. This is exactly how ChainDrive’s Product Management software utilizes the power module we call “the...
5 Ways to Make the Most of Your Footwear Retail Management Solution
Footwear retailers have a lot of sole, pardon the pun. If you don’t want customers giving your retail store the boot, however, you’ll need to take great care to manage the operations smoothly. Not...
Why Web Order Fulfillment Should Be Fast and Accurate
There are two things that will kill your web orders – inaccuracies and slow speeds. Why Your Web Order Fulfillment Processes Should Be Accurate Customers order what they want. If you get the orders...
What Impact Do Prices Have On Profits?
E-book distributor Smashwords has done some studies on e-book pricing, and what they’ve found is that $2.99 is one of the best price points for e-books in any genre, hence the reason that is...
7 Reasons to Optimize Your Point of Sale
Your point of sale (POS) system is one of your retail chain’s most important assets. Optimizing it is essential. Here are seven good reasons you want to optimize your POS for better business. Integrate...
5 Principles of eCommerce for Brick-and-Mortar Retailers
If you are a traditional retailer with several brick-and-mortar stores in your chain and you’re ready to go full steam into eCommerce, you might have some questions. One of those questions may be, “What’s...
What Can Retail Analytics Help You Measure?
It’s important, in the retail business, to be able to measure your progress to determine if your business is successful, profitable, and growing. But what exactly should you measure? Every retail business is different....
6 Ways to Synchronize Your Retail Operations
Operations management is one of the most important aspects of retail. You can have great customer service, outstanding merchandising practices, plenty of inventory, buyers who understand your market, and the best point of sale...
