If you are in retail, please do this today! If you require help, or something is not clear, please DM me. I can even run this meeting for you! But, please do this. Building Alignment is the most important step. If you are in Retail, just do this to significantly Read more…
๐ Back from an Incredible European Adventure! ๐บ๏ธ Hello, LinkedIn fam!I’m back from an absolutely amazing three-week vacation in Europe! ๐โ๏ธ My family and I had the pleasure of exploring three incredible countries: the Netherlands, Belgium, and the enchanting city of love, Paris! ๐ณ๐ฑ ๐ง๐ช ๐ซ๐ท This vacation has been Read more…
Many companies have their own in-house inventory management system.There are some ready-made solutions in the market: 1. ๐๐น๐ผ๐๐ฑ-๐ฏ๐ฎ๐๐ฒ๐ฑ inventory management systems: Web-based systems like TradeGecko, SkuVault, Zoho Inventory, Odoo and Brightpearl. 2. ๐ข๐ป-๐ฝ๐ฟ๐ฒ๐บ๐ถ๐๐ฒ inventory management systems: Programs that are installed on a business’s own servers and can be accessed only Read more…
Moving from a centralized inventory system to a decentralized inventory system is aimed atโข improving supply chain efficiency,โข reducing transportation costs, andโข improving customer satisfaction levels. Till 2015 Flipkart had a single warehouse located in Bangalore. ๐๐ฑ๐๐ฎ๐ป๐๐ฎ๐ด๐ฒ๐ of moving to a decentralized inventory system: 1. ๐๐ฎ๐๐๐ฒ๐ฟ ๐ฑ๐ฒ๐น๐ถ๐๐ฒ๐ฟ๐: Helped improve its Read more…
Loved Rick‘s post yesterday on Walmart’s Investor Day (link in comments). This got me interested and spent some time going through the session. I felt a lot of retailers could benefit from this. 3 main points for future growth:1. growth (toppling and even more bottom line),2. margin improvement, and3. return Read more…
Companies need to focus on the customer experience and invest in technology to succeed in the last mile. – Amazon: works with local businesses to provide last-mile delivery services, and allows individuals to deliver packages using their own vehicles. – Walmart: Using its network of physical stores, including curbside pickup Read more…
By regularly reviewing your product performance and inventory turns, you can make informed decisions about budget planning and ensure that your business is on track to meet its financial goals. 1. Determine your planned inventory turns for the year. This will be based on your sales projections and desired inventory Read more…
Well, well, well…look who’s finally made it to the micro leagues on LinkedIn!That’s right, it’s TOC Flow Consulting.After three years of posting, networking, and shamelessly begging my family to follow me, I’ve finally hit the first step of social media – 1,000 followers. When I first started on LinkedIn, I Read more…
The concept of stores responding to current trends and buying patterns is not new, and many successful companies have implemented it to drive sales and customer satisfaction. One such company is Amazon, which constantly updates its product offerings based on what people are buying and searching for. Its recommendation system Read more…
– In the 1980s, Coca-Cola decided to change the formula of their flagship product to better compete with Pepsi. However, the new formula did not resonate with their loyal customers who had grown to love the original taste, and the company faced significant backlash. Eventually, Coca-Cola had to bring back Read more…