This is a self-explanatory term. “Aged” Inventory means old. Old inventory is a silent killer for any Progressive Retailer. What is the current practice? Depending upon the industry you are in, the approach can vary! from “What can I do,” To “I have done everything what I can do” If[…]
How you measure profit will determine how much profit you “really” make? Last year’s Diwali was a blockbuster. Your jewellery showroom was flooded with customers. You ran several promotional campaigns which brought in good footfall into your store. Several designs sold like hotcakes. But at the end of the day,[…]
Retail inventory management is the key to profitability in business. You may have a great product, a clever pricing policy or an innovative marketing strategy. But if your inventory management is poor, everything is up for a toss. Inventory management is like a canvas and stock turn rotation is just[…]
You have a jewellery showroom with a large Jewellery collection. Hallmarked gold jewellery, Certified Diamond jewellery, Solitaires, all vie for space in your counter display. The collections look very attractive but you know the huge investment you have made. But tell me, how much of this is deadstock? How much[…]
“Change is the only constant”, was the theme of the Seminar by Retail Gurukul at the 14th Edition of the Gem and Jewellery India International Exhibition . It was held at the Chennai Trade Centre recently. Organised by the Madras Jewellers Diamond Merchants Association(MJDMA) and UBM India, the nation’s leading[…]
If You are reading this line, I challenge you—You are dis-satisfied with your business and want to grow it further. Whether Modi and his Uncle are finally brought to justice or not, one thing has surely changed for the jewellery industry and all businessmen in India. The good old days[…]
The Indian Retail industry has never been static. The innovation in science and technologies backed up with new marketing strategies has helped retailers to develop from a small brick and mortar store to now supply their merchandise and influence the e-commerce industry. Not only the demand but also the competition[…]
Inventory management is all about buying, storing and managing merchandise. It is crucial for proper functioning of your retail stores, as it can affect your sales, expenses and profits. An inventory management system can help you “earn more” & “save more” money. 6 tested Retail Inventory Management techniques for Retail stores Accurate[…]