Tag Archives: inventory management

In 2019, Michelle and Gary Meny, owners of Meny’s True Value, purchased a third location in Ferdinand, Indiana, which was the catalyst to bring all three locations under one umbrella. Prior to opening the new location, the first two did …

With an Excel file, a few well thought out formulas and a desire product selection at the basic level, Cody Miller created his own program for determining the profitability of each department—down to a 4-foot section in each—in his operation’s …

Even when the lingering supply issues from the COVID-19 pandemic resolve, inventory management will continue to be a high priority for retailers. Jared Brown, director of business intelligence for The Aubuchon Company, shares five insights into making the process easier …

Whether it was the Kansas City Chiefs home opener win on Thursday night, the product assortments, the pricing, or a combination of everything, spirits were high on the floor of the Blish-Mize Fall Market in Overland Park, Kansas over the …

While shoplifting receives most of the attention when looking at shrinkage, internal theft and fraud also account for a large percentage. While the National Retail Federation (NRF) doesn’t track the data anymore in its annual National Retail Security Survey, in …

If an operation didn’t already utilize e-commerce and contactless systems before the pandemic, they most likely added them during the shutdowns to better serve their customers. Customers have come to expect these options, so retailers should stay on top of …

Adding or enhancing a niche requires more than ordering products and putting them out in your store. Below are five best practices to guide you in managing inventory in a niche category. To learn more about inventory management for all …

Traditionally, if you wanted to manage your inventory effectively, you relied on efficiencies such as just-in-time delivery, minimal backstock and a reliable sales history. But in one year, everything changed. During the pandemic, consumer demand for home improvement products accelerated. …