A lot of inventory management advice will set you up for failure. Here are 5 things you should ignore if you are getting started ๐ ๐ถ๐๐ฐ๐ผ๐ป๐ฐ๐ฒ๐ฝ๐๐ถ๐ผ๐ป ๐ญ.Always maintain high levels of safety stock to avoid stockouts.๐๐ผ ๐๐ต๐ถ๐ ๐ถ๐ป๐๐๐ฒ๐ฎ๐ฑ:Safety stock is important.But maintaining high levels of it can actually lead to excess Read more…
There are several challenges that a jewellery retailer may face: 1. ๐๐ผ๐บ๐ฝ๐ฒ๐๐ถ๐๐ถ๐ผ๐ป: There is a lot of competition in the jewellery industry, and it can be difficult for a retailer to stand out in the market. 2. ๐ฃ๐ฟ๐ถ๐ฐ๐ฒ ๐๐ฒ๐ป๐๐ถ๐๐ถ๐๐ถ๐๐: jewellery can be a significant purchase for many consumers, and price Read more…
Challenge your definitions every day for every SKU at every store. Ensure your head is always available.Keep your belly trim.Cut down your tail. Are you struggling with low inventory turnover or cash flow issues?It might be time to take a closer look at your product mix. Are all products created Read more…
As long as sales are incentivised only for volume sold into the channel and marketing only for market share, companies will never become demand-driven.To make the move on demand-driven initiatives, companies must focus on profitable sales through the channel. We want to shorten our response time to market, achieving better Read more…
Firms often take a piecemeal approach to sustainability.They demand that suppliers replace materials with greener ones, for instance, and they tweak their own operations with recycling, energy-efficient equipment, and the like.Although these changes often seem worthwhile individually, they may in the grand scheme generate unintended consequences, such as higher financial, Read more…