Business intelligence in retail industry has made it possible to gain in-depth knowledge about your customer, their needs, their spend patterns, and the correlation with your products and sales is recognized by the Business Community from times immemorial. We also need to recognize that Retail Businesses operate on thin margins hence a Smart Business Owner …
How retail business intelligence is transforming. Read More »
Accounting practices across various industry segments including Retail and Wholesale, from times immemorial have been very well defined, are logically structured and hence have a limited room for innovation. Also, to add, Accounting as a function lays a lot of emphasis on certain fixed and nonnegotiable aspects like accuracy, integrity, and timeliness of data. In …
Insights on the “New Age Accounting” for Retail Businesses Read More »
The purchase activity in retail setup throws up the dual challenge wherein the owners face the dilemma of having an optimum/ timely inventory and of saving on unnecessary spend, and managing space and wastages. Maintaining the freshness and relevance of the products is another added troublesome dimension to it. The question therefore is can we …
Solution to Working Capital Optimization while avoiding Stock Out Read More »
Retail business owners today face the dual challenge of having an optimum replenishment methodology for the depleting stock while maintaining a seamless purchase process on the supply chain management front. The questions they frequently come across are… How much to purchase and hold in stock value? What kind of product quality and grade to go …
How to Automate Your Replenishment and Purchase Process? Read More »
Retail Inventory Management has assumed a lot of importance especially during the current COVID 19 pandemic times when all kinds of food and nonfood items were sold online on a very large scale. On the flip side, it had led to stock outages, broken supply chains, uneven distribution and unavailability of products. A lot of …
Interesting Trends in Retail Inventory Management Read More »
With the advent of Omnichannel Retail, optimizing inventory and automating the related processes has become imminent. In this regard, one of the biggest challenges today’s Retailers face is how much inventory to hold, in what proportions and for what duration. The primary reason for the enormity of the challenge is the inability of the systems …
How to Optimize and Automate your Inventory Processes? Read More »
Client Overview Rand Outfitters is a leading multi store retailer of Branded Footwear based in Johannesburg, South Africa. Apart from the outlets, they do online eCommerce selling as well. All of their inventory management happens from a 4000 sq.ft centralized warehouse, which helps in greater stock holding and faster customer deliveries. Problem Statement With the …
Posibolt Support paved the Growth of Rand Outfitters, South Africa Read More »
Omnichannel retail is the new norm in the world of Retail and online e-Commerce Businesses, and there are a variety of reasons behind its phenomenal growth. Right from the inception of Globalization of the physical stores, to the emergence of Internet-based cataloguing/ selling, to the mobile revolution and finally the COVID 19 pandemic have all …
How to Transform your Business to Omnichannel Retail Read More »
Product promotion is one among the top marketing strategies employed to stimulate sales and improve brand awareness of your retail business. It also helps in building a long lasting relationship with customers and helps in generating new leads. Promotions serve as a strategic tool that leverages its resources effectively and plays a crucial role in …
The Value of Product Promotions in Retail Businesses Read More »
Automation has become a household term. Smart homes, smart cities, et. al. have made life easy and convenient for the common man to say the least. Businesses are no different. From mundane tracking of inventory, bills and the works, businesses today have come a long way in embracing technology, thanks to business benefits technology and …
