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Open-to-Buy (OTB) Planning: What It Is and How It Can Benefit Your Retail Business
As a retailer, one of the biggest challenges you face is managing your inventory. You need to find a balance between having enough inventory to meet demand and having too much inventory that puts a strain on your finances. That’s where open-to-buy (OTB) planning comes in. Open-to-buy planning is an inventory management method that helps […]
10 Must-Have Payment Gateway Features for eCommerce
As consumer preference for e-commerce increases, thanks to the convenience that online shopping offers, the global digital payment industry is experiencing increased growth. As a result, e-commerce businesses have many opportunities, but only if their payment processes and systems are optimized to support consumers’ new shopping habits. A payment gateway is essential to any e-commerce […]
Top 10 Order Fulfillment Strategies to Drive Sales and Maximize Your Profits
Customer satisfaction is considered the heart of any business. Companies that know and meet the needs of their customers are the most likely to succeed in any industry. Satisfied customers will naturally come back to buy. Customer loyalty is essential to generate profits. The profits generated from sales are then used to scale up the […]
10 Essential Warehouse Management Best Practices – ChainDrive
Businesses are constantly looking for ways to improve productivity, increase revenue, reduce costs, and provide better products/services to customers. One way to do this is to optimize warehouse operations. There are many warehouse management best practices that can help you improve warehouse operations. In this article, we will look at some key best practices that […]
10 Product Management Best Practices for Retail Success
Product management is one of the most important operational concerns in retail. If you don’t manage your inventory effectively, you risk having tons of shrinkage and losses, which consumes your profits, spending countless hours searching for your products, and wasting time and resources on other activities that negatively impact your bottom line. Effective product management […]
10 Retail Merchandising Strategies to Increase Sales – ChainDrive
Retail is a tough game. Even the best retailers are challenged by competition and changing consumer needs. So, brands need to be successful in order to keep operating. One way to increase sales is through merchandising. This is the act of developing and distributing the products your business offers. Merchandising strategies will continue to play […]