Maintaining accurate, standardized product data across all channels is a priority, as consumers have learned to expect a seamless retail experience. Sam Copeland, vice president of merchandising operations for Office Depot, Inc., took time to discuss why expanding assortments and the demand for personalization are placing additional emphasis on the need for centralized master data.
Hedgie Bartol, retail business development manager at Axis Communications, talked to LossPreventionInsights about the company’s upcoming Axis Retail Leadership Forum. Bartol explains that interdepartmental collaboration will be a major theme at this year’s event. Read on to learn more.
When it comes to task management for your small to mid-sized business, don’t get so focused on sales that you neglect to add inventory monitoring and analysis to your “to do list.” Fail to acknowledge the value of this kind of protocol in a restaurant, for example, and you can wind up spending your hard-earned profit on food that spoils and winds up in the dumpster, not on the plate. The same is true for bar owners.
Small business compliance includes a lot of important administrative things that take all the fun out of being an entrepreneur. However, it’s extremely important to deal with these regulations and finish everything in time for these rules to provide necessary safeguards. At the same time, when you fail to follow them, you risk a lot. Do not claim that you were not aware when you made a mistake. Instead, try to avoid it at the earliest stages.
As a supervisor, you may be required to write to-do lists to help you stay on track and be productive, but yet find yourself choosing to complete only the most critical tasks and having ignored the least important ones at the end of the day. Who would blame you? According to researchers, our minds can only process up to 7 tasks without feeling overwhelmed; anything beyond this and we risk pulling our own hair out.
No employer wants to think of its employees as being dishonest, but industry research shows there’s good reason for concern. According to the “25th Annual Retail Theft Survey,” conducted by Jack L. Hayes International, one-third of all business failures each year are attributed to employee theft. Another alarming finding was that 34 percent of 18- to 29-year-old employees believe it’s justifiable to steal from their employer. The report also showed that dishonest employees steal approximately 5.5 times as much as shoplifters.
IRT sits down with Michele Salerno, Director of Marketing and Sales, at Celerant Technology about automating POs, best practices in tracking vendor progress, and more.
According to the latest research from the National Restaurant Association (NRA), restaurant-industry sales are trending upward this year and projected to reach $798.7 billion by year’s end, a 4.3 percent gain over 2016. Quick service restaurant (QSR) and fast-casual sales are expected to reach $233.7 billion this year, representing a 5.3 percent gain over 2016.
No matter what industry you work in, finding the right candidate for the job is crucial. High employee turnover can cost companies big. According to HR firm Zane Benefits, turnover could cost as much as 20% of a mid-range employee’s salary. That’s a big chunk of your bottom line.
The Internet of Things (IoT) is, realistically, still in its infancy. Sure, IoT is already making a mark on retail, but what does IoT’s future look like? Michelle Covey is Vice President of Apparel and General Merchandise for GS1 US, the organization best known as the administrators of the UPC barcode but on that also helps retail companies leverage RFID for inventory visibility.
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