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Declining store traffic is a problem. The Five-Star metric helps furniture retailers increase traffic, sales volume, store revenue and bottom line profitability.
Why 20% Inventory Is Too Much!
You can escape the excess inventory trap before you become too entangled, or avoid it altogether if you understand the reasons why so many otherwise good companies get caught.
Dynamic Inventory Management – Part 3
Buyers, who aren’t involved in the inventory management process, produce lower GMROI. It is, therefore, critical that they become expert inventory managers and that their duties don’t end with the filing of a purchase order.
Are You Inventory Rich and Cash Poor?
Poor buying practices, supplier performance issues and insufficient attention to lean inventory practices are among the major causes of having too much inventory and too little cash.
Dynamic Inventory Management – Part 2
This series looks at tools and techniques you can use to measure and improve the health of your inventory over time.
Dynamic Inventory Management – Part 1
A two-part series that looks at tools and techniques you can use to measure and improve the health of your inventory over time.
Articles
Retail Break Even Analysis
This article will demonstrate how to calculate your break-even point of sales. It also provides real world examples of ways smart retailers can reduce their break-even points and level of risk.
Five Smart Steps To e-Tail Inventory Management
Today, consumers initiate their shopping experience. If they find you through Google, you have a chance to get their business. Here’s how to manage your e-tail inventory to make the most of an initial website contact. Included is a 12-step process that will help to make their buying decision easier.
Get Furniture Store Employees to Do What YOU Want
Using rewards as enticements and threats of punishment are approaches aimed at obtaining obedience and compliance, but they can overpower, rather than empower.
Pay For Performance!
A prime reason why top performing companies out perform their average performing peers is because they pay people extra when they perform better. Here is how to go about taking this path to success.
Let’s Simplify Your Furniture Inventory – Part 2
This article is about selling more inventory and improving inventory buying. David McMahon presents a coordinated approach to age your inventory, mark it down and provide sales compensation incentives to improve profitability.
Let’s Simplify Your Inventory
David McMahon shows you the core practices that the most profitable businesses follow to achieve the highest return on their inventory investment.
Eight Techniques to Boost Profit in Tough Times
Some retailers seem to always manage to perform well. In this article David McMahon takes a close look at what those successful retailers do to cut costs during lean times and achieve maximum returns. Specific steps to cut fixed costs and make retail operations more responsive to cost cutting measures are examined.
Measure Gross Margin Return On Inventory
Track this inventory metric to understand your customer’s buying patterns, establish a more relevant product mix, satisfy more people and sell more.
7 Common Characteristics of Profitable Furniture Businesses
What are the characteristics that separate the best operations from the worst?
Harness The Power Of e-Marketing – Part 2
Old media techniques broadcast a campaign that is the same for everyone. Here’s how to target specific groups with messages they want to see, when they want to see them.
Boost Cash Flow & Generate Sales Now
This article tells the story of a furniture store owner in St. Augustine who used fresh tactics to beat last year’s numbers in November, December, and January. How he did it is instructive and worth your attention.
You Can Harness The Power of e-Marketing
New media is uncharted territory for many furniture retailers, but with a bit of knowledge you can be one of the first in our industry to do it right.
Modern Ways To Increase GMROI – Part 2
Part 2: Old school ways to increase this critical measure are just not enough anymore!
Modern Ways To Maximize Your GMROI – Part 1
This article will highlight some modern ways to increase your GMROI by using technology to pull in extra customers and move merchandise while minimizing costs.
Add 250,000 Gross Margin $$ Without Raising Prices!
Clearance sales may have their time and place, however, there are many other more productive ways to increase GMROI. You can do this without increasing prices or holding inventory clearance sales.
Markdown Strategies That Work!
Part 4 of the Dynamic Inventory Management Series presents the Five Golden Markdown Steps. This efficient markdown system has a considerable impact on profitability and cash flow because it greatly increases turns, improves gross margin, sales and cash flow.
Why 20% Inventory Is Too Much!
You can escape the excess inventory trap before you become too entangled, or avoid it altogether if you understand the reasons why so many otherwise good companies get caught.
Dynamic Inventory Management – Part 3
Buyers, who aren’t involved in the inventory management process, produce lower GMROI. It is, therefore, critical that they become expert inventory managers and that their duties don’t end with the filing of a purchase order.
Are You Inventory Rich and Cash Poor?
Poor buying practices, supplier performance issues and insufficient attention to lean inventory practices are among the major causes of having too much inventory and too little cash.
Dynamic Inventory Management – Part 2
This series looks at tools and techniques you can use to measure and improve the health of your inventory over time.
Dynamic Inventory Management – Part 1
A two-part series that looks at tools and techniques you can use to measure and improve the health of your inventory over time.