Look for an advisor who has industry experience, understands your situation and can provide you with a concrete action plan.
Author: Ritchie Sayner, Vice President of Business Development for RMSA Retail Solutions
Ritchie Sayner, Vice President of Business Development for RMSA Retail Solutions
I am a certified instructor of retailing, speak regularly to retail groups and write articles for various industry publications on a variety of issues facing today’s retailers. I have a degree in marketing from the University of Wisconsin-LaCrosse.
In retail, habits good or bad, make your store what it is. It is all about recognizing what behaviors need to be changed.
Strong, positive cash flow is a must for any thriving retail establishment. The benefits of positive cash flow are numerous: pay vendors on time, take discounts,…
Strong, positive cash flow is a must for any thriving retail establishment. The benefits of positive cash flow are numerous.
When a store is able to procure off-price merchandise from a supplier, it can serve to generate several benefits.
Establishing ideal delivery start and completion dates for inventory orders can be just as important as price points.
Every merchant should resolve to sell more merchandise more quickly each and every year.
Book and physical inventory should be monitored at the store and classification level. Several things can cause a disparity between these numbers.
If over 30 percent of your inventory stock is old, you have a problem that needs to be addressed now.
Results of poor open to buy planning or no planning can be quite costly and generally lead to inventories that are out of balance.