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Inventory turnover is the rate at which products are sold. It can help you figure out when to order items and if your prices or products need adjusting.
Calculate your reorder point so you can have just the right amount of available stock for customers. Too much is money wasted, too little is money lost.
Prevent out-of-stock situations by having a smart inventory plan for your business. Read our tips to reduce the chances of being out of stock of items.
Many consumers use the terms "SKU" and "UPC" interchangeably, but for small business owners and for employees who manage inventory, it's important to know the difference. Briefly, SKU numbers are internal product inventory codes unique to a particular company, while UPC barcodes are external product tracking codes that are standardized for universal use by any [...]
The majority of the world’s purchasing power — 80 percent, to be exact — live outside the United States, according to the U.S. Chamber of Commerce. This makes international shipping one of the best ways for American companies to attract new business. But companies that ship worldwide also face significant challenges and risks, ranging from [...]
Receiving and processing orders, and then successfully delivering them to customers is order fulfillment in its most basic form. As a small business grows larger, a glitch in this process can result in customer loss and reputation damage. A startup, for example, may begin its business taking orders on an ecommerce marketplace like Shopify or [...]
When you get in line at the grocery store, you probably choose the line that appears to be moving at the most efficient pace. If you see the lines next to you moving faster, you might even switch. There’s an entire mathematical theory dedicated to waiting in line — called queuing theory. If a shopper [...]
Your retail business' customer experience should constantly evolve. Audit the experience to learn what you're doing right and what you need to improve.