-
Dec 17, 2024 | 
lightspeedhq.com | Alix Fraser
Countless hours counting stock, struggling with inaccurate spreadsheets, constantly worrying about stockouts… at one point or another, nearly every retailer has been there. Manual inventory management is a major drain on your time and resources. Fortunately, there’s a better way. Automated inventory management empowers retailers to optimize their stock control, improve efficiency and boost their bottom line.
-
Dec 17, 2024 | 
lightspeedhq.com | Alix Fraser
Think you’re running a tight ship? Think again. Every retailer, no matter how seasoned, faces the silent threat of inventory shrinkage. It’s the phantom thief that steals profits right from under your nose. From shoplifting to administrative errors, shrinkage erodes your bottom line and disrupts operations. Understanding the causes and implementing preventive measures is crucial for protecting your hard-earned revenue.
-
Dec 17, 2024 | 
lightspeedhq.com | Alix Fraser
Ever feel like your warehouse is turning into a graveyard for unsold products? As a savvy retailer, you know that stagnant inventory is a profit killer. That’s where inventory liquidation comes in. It’s the strategic art of clearing out excess, slow-moving, or obsolete stock to free up space and boost your bottom line. While liquidation offers benefits like increased cash flow and reduced carrying costs, it’s important to navigate potential risks like brand image and profit margin implications.
-
Dec 13, 2024 | 
lightspeedhq.com | Alix Fraser
The Canadian government has announced a GST/HST holiday, a temporary tax break designed to support consumers and stimulate spending. For a limited period, the Goods and Services Tax (GST) or Harmonized Sales Tax (HST) will not be charged on eligible purchases, providing businesses with an opportunity to attract more customers and boost sales. The GST/HST break may encourage Canadian shoppers and diners to spend more, but businesses should be prepared to apply the tax reduction.
-
Dec 13, 2024 | 
salon.com | Alix Fraser
Social media is killing children, but House Speaker Mike Johnson, R-LA, is refusing to meet with their grieving parents to pass legislative safeguards to protect other kids.
-
Dec 3, 2024 | 
lightspeedhq.com | Kashmala Omar |Alix Fraser |Jody Hewitt |Catherine Schwartz
These days, consumers expect nothing less than seamless shopping experiences from start to finish. As the final step, checking out is equally as important as the rest of the buying process. And as retail competition grows in a global marketplace, flexible payment options can make or break a sale. In the purchasing journey, convenience and a variety of options are becoming increasingly important to customers.
-
Nov 27, 2024 | 
lightspeedhq.com | Alix Fraser |Jody Hewitt |Catherine Schwartz |Kashmala Omar
QR codes are transforming inventory management by providing a fast and versatile way to track and manage stock. These scannable squares can be attached to individual items or shelves, holding detailed product information such as serial numbers, location and purchase history. Using a smartphone or dedicated scanner, businesses can instantly access this information, streamlining tasks like stocktaking, receiving goods and identifying items for sale or transfer.
-
Nov 20, 2024 | 
lightspeedhq.com | Catherine Schwartz |Kashmala Omar |Jody Hewitt |Alix Fraser
Stock management means overseeing a business’s goods from A to Z. Essentially, it involves overseeing how a company orders, stores, tracks, and controls its inventory. Solid stock management ensures businesses maintain the optimal levels of stock. Its goal is simple: to meet customer demand. It aims to avoid having too much stock or running out of products. Too much stock can waste money, while running out can disrupt operations and hurt sales.
-
Nov 4, 2024 | 
lightspeedhq.com | Kashmala Omar |Jody Hewitt |Alix Fraser
Effective supply chain management can save businesses both time and money. Two of the most important components of supply chain management include efficient inventory management and accurate demand planning and forecasting. While deeply connected, each serves a different but equally important purpose. Supply chain management encompasses all the processes involved in sourcing, procuring, producing and distributing goods.
-
Oct 31, 2024 | 
lightspeedhq.com | Jody Hewitt |Alix Fraser |Kashmala Omar
Inventory management is crucial in business—but it can be easier said than done. Without full visibility into what you have and what people want, you can easily find yourself ordering too much stock—at the risk of never moving it—or ordering too little, leading to stockouts and frustrated customers who’ll start looking elsewhere. The solution? Good inventory management techniques.
