Author: Multidev Technologies

retail product life cycle

Understanding the Retail Product Life Cycle

Retail chain operations managers can make their stores and chains more profitable simply by understanding the retail product life cycle better. In general, there are five distinct life cycles for any retail product. Below...

clienteling

7 Things Every Retailer Should Know About Their Customers

Understanding your customers is one of the most important aspects of retailing. No matter which sector of retailing you’re in, you should know the following seven things bout your customers–at a minimum. How much...

department store chain

5 Ways Technology Can Improve Your Department Store

Technology has become an intrinsic part of our lives. Today, most businesses are built entirely around a specific technology platform. Department stores, while they’ve been around for decades, can employ some of the latest...

wholesale management

7 Things Wholesalers Can Do Better

Wholesale operations are easy to improve with the right tools. The one essential tool that can make any wholesale operation better is an operations management solution. ChainDrive has unique features that allow wholesalers a...

retail forecasting

How to Calculate OTB

In retail planning, open-to-buy (OTB) is one of the most important concepts to understand. By calculating your OTB you can ensure maximum profitability and keep your inventory management practices on target. Here are the...

integrated accounting

7 Retail Accounting Functions You Should Integrate Today

If your retail operations are going to be profitable and efficient, you need to integrate your accounting procedures into your operations management solution. At a minimum, you should incorporate the following seven accounting functions...

specialty retail

5 Specialty Retailers That Benefit From Centralize Product Management

Product management for specialty retail stores is more efficient if done from a centralized location. By managing the process from a single database, retailers can set allocation and replenishment limits for each store which...

real-time inventory

How Real-Time Inventory Monitoring Saves Retailers Money

Real-time inventory monitoring is a key feature of the ChainDrive E-commerce Gateway. But what are the benefits of this monitoring? In a word, it saves retailers money. Here are 6 powerful ways you can...

web order fulfillment

5 Ways to Fulfill Web Orders

If you’re just getting started on your online retail venture, you might be wondering what is the best way to handle web order fulfillment. There are some effective ways and not-so-effective ways. Here are...

home decor retail

5 Essential Factors of Cross-Channel Home Decor Retail

Home decor retailers have discovered cross-channel sales. That’s a good thing too, because everyone who does retail today is implementing cross-channel marketing initiatives and sales processes. It’s so essential to modern-day retailing that if...

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