With their new MUSE accelerator platform, Ulta aims to help 8 early-stage BIPOC beauty brands on their path to success. The initiative’s stated mission is to magnify, uplift, support, and empower underrepresented beauty brand founders of color. Offering one-on-one mentorships and training from some of the top leaders in the beauty space, Ulta’s goal is... Read more »
Cloud-based inventory management is the monitoring and maintenance of a businesses’ inventory levels using online software. With a cloud-based inventory management solution, it helps businesses avoid many of the errors and issues that plague traditional methods of measuring stock levels. With this type of inventory management software, you get a system that seamlessly tracks inventory… Read more »
As a retailer, doing physical counts of inventory is likely one of the most annoying task you have to do. It’s a tedious task, counting store merchandise can take several hours, and for some merchants, it may require closing the store down for a period of time. While it’s likely not a job you’re fond… Read more »
The stocktaking process refers to the processes and procedures that are being used when new stock arrives to your business. Performing a complete stocktake a few times a year is essential for maintaining optimal inventory levels and minimizing losses in your retail or wholesale business. Yes, it can be time-consuming, frustrating and a pain in the… Read more »
The growing popularity of online marketplaces like Amazon, Ebay and Etsy has driven massive growth for retailers of all sizes. Some of these companies operate exclusively through online retail, taking advantage of a worldwide target market that doesn’t carry high expenses. Despite leveraging the online marketplace, these retail businesses are still required to pay taxes… Read more »
Economic Order Quantity, also described as (EOQ), is a measurement used in the field of Logistics, Operations and Supply Chain Management. In short, EOQ is a tool you can use to determine the volume and frequency of orders needed to satisfy a specific level of demand while minimizing your cost per order. If your assumptions… Read more »
The concept of a retail warehousing comes from the continued decline of available warehouse space in the United States. According to the Wall Street Journal, retailers throughout the country are experiencing a shortage of available warehouse capacity. The effects of less warehouse capacity causes a lot of issues for retailers, from an inability to meet ecommerce demand… Read more »
While there’s a number of different types of inventory management you can focus on, today is all about retail inventory management. Retail inventory management is not “attractive” or “fun,” but you can bet your bottom dollar that it’s a key component to the success or failure of your business. We still remember when Walmart lost… Read more »
Multi-channel retailing is the practice of using multiple channels to sell your products. Multi-channel-retailing strategies force you to think outside the box, leaving the comfort of a website and exploring other channels that could drive potential customers to your brand. There’s no question about it, consumers are using more avenues today to shop for the… Read more »
When it comes to warehouse management, one of the first steps of operations is receiving inventory. If the inventory coming in is messed up, everything else that follows is going to be messed up too. It doesn’t matter what industry you’re in, receiving inventory is what sets up the rest of your operations. It’s a… Read more »
What is Dead Stock? Inventory that doesn’t turn over, also referred to inventory that doesn’t sell, is often referred to as dead stock. If a business doesn’t have software for their inventory management, dead stock can remain on warehouse shelves for long periods at a time. If inventory is “dead” and sitting around gathering dust,… Read more »