Studies of major direct to consumer companies show a high percent of customers (80% in one study) say ease of returning product is important to their purchasing decision. Studies also show a high percentage of customers are more likely to shop with an online merchant if the merchant offers “free returns”.Read More >
In today’s world of constantly looking for ways to improve the company’s bottom line, many Operations are being asked to reduce costs or better yet, increase productivity and efficiency and lower cost at the same time. Here are some ideas and practices that we have identified from inventory assessments and warehouse assessments that we have conducted.
A company’s merchandising strategy is at the heart of its growth and profitability. Saying that is not to minimize marketing and fulfillment’s roles, but without strong merchandise you don’t have a business. Great marketing cannot compensate for the lack of good product, though great marketing can radically improve the sales for product.
Inventory management and forecasting are strategic issues. Companies that recognize this fact can typically provide higher levels of service to their customers and post higher profits.
Developing a comprehensive inventory strategy involves a number of departments — including fulfillment, marketing, and merchandising — as well as inventory control. It also involves implementing inventory best practices. Here are 14 best practices that will most likely benefit your business the most.