Fact or Fiction? Loyalty programs use discount tactics, which cheapens your brand. If you’re not playing in the discount market (where it’s pretty much a race to the bottom), you might be wary of discounting. Many retailers hesitate to use discount tactics, even sparingly. They worry that it might cheapen their brand and devalue their […]
Third-party logistics is a growing area, and expectations are that this upward trajectory will continue into 2023 and beyond. In fact, ReportLinker’s Third-Party Logistics (3PL) Global Market Report 2022 found that 3PL is expected to jump from a $906.98 billion USD valuation in 2021 to a $1,418.70 billion USD one in 2026 worldwide. That’s a […]
To quote writer and editor Stewart Brand: “Once a new technology rolls over you, if you’re not part of the steamroller, you’re part of the road.” Wise words in this day and age when more and more aspects of manufacturing and ecommerce are being automated, computerized, and digitized. In supply chain management, an important technological […]
A manufacturer’s inventory is its lifeblood, the basic ingredients for whatever is being made. When it comes to storing materials in the warehouse, there has to be enough materials on hand at all times, and they have to be in good condition. If these requirements aren’t fully met, a factory could shut down. Therefore, managing […]
Any company aims to have their operation run so smoothly and efficiently that they’ll have minimal outlay and make maximum profit. Sadly, many fall short of that goal because of holdups along their internal supply chains. These holdups create bottlenecks, jams in the system that slow the process down at the point they’re happening and […]
Storage facilities and large stocks of inventory can be a huge drain on a business. The physical area has to be taken care of, rent has to be paid, and personnel have to spend time overseeing and maintaining all the stock. But what if a company could function without having to have a large store […]
Logistics was coined by the military to describe the complicated organization involved in moving troops and equipment from one place to another. Similarly within the supply chain, logistics is about getting everything from goods to equipment to people from one place to the other. Logistics is no easy matter. Things have to be in place […]
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Although not very often, factory shutdowns happen. Whether planned or unplanned, shutdowns cause major disruptions and financial losses, and therefore, you must understand how to deal with them. Planned plant closures are usually for maintenance purposes. Essential to keep machinery and equipment in good working order, they usually happen once or twice a year. During […]
According to the eMarketer report, global retail ecommerce sales that amounted to $4.248 trillion USD in 2020 are expected to reach $7.391 trillion USD by 2025. The rise in ecommerce is indicative of the shift in consumer preference in shopping. You can sell your products online if you want to expand your business. If you […]
If you are a business owner, you must communicate with other organizations, including your suppliers, customers, and stakeholders. Communicating in an old-fashioned way using a ton of paper is slower, less secure, and less efficient. With the world moving towards digitalization, business communication should also be digitized. This will not only improve the speed, security, […]
’Tis the season for joy, merriment, and giving. That last part is the important one for retailers everywhere. That’s because Christmas is the biggest shopping season of the year. Over the last five years, Christmas-season sales have averaged around 19% of total sales for the year, and that percentage can be higher for some retailers, […]
In a way, customers are like golden geese: The fact that they buy your goods is the reason you have a business and are making profits, but they’re likely to fly away if you don’t give them a good shopping experience. For a customer, this good buying experience comes down to finding the products they […]
In today’s automated world, retail and manufacturing companies control their business processes with several different software applications, each of which performs a specific function. For instance, there are applications for accounting, supply chain management (SCM), and inventory management (IMS). While they’re separate and perform their own clearly defined tasks, it’s vitally important for them to […]
