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Articles

Cloud ERP with POS Integration: Definition, How It Works and Best Practices for Connecting Your ERP and Point of Sale

Jan 8, 2025 | lightspeedhq.com | Francesca Nicasio |Jody Hewitt

Retailers managing multiple locations or expanding their operations need tools that simplify and unify their workflows. And when you have various applications in place, keeping them integrated is a must. This is where a cloud ERP and POS integration comes into play. Connecting systems like ERP and POS ensures data flows seamlessly across every aspect of the business. This improves efficiency and delivers actionable insights that experienced retailers rely on to make decisions.
What Is it & How Does it Work?

Jan 7, 2025 | lightspeedhq.com | Jody Hewitt

Consignment inventory is a supply chain model that enables retailers and suppliers to build flexible, mutually beneficial partnerships. Whether it’s high-end jewelry, seasonal decor or artisan goods, consignment inventory agreements can be a win-win for both parties. However, like anything in business, effective consignment inventory management requires careful planning and execution to succeed.
Complete Guide to Perpetual Inventory

Jan 7, 2025 | lightspeedhq.com | Jody Hewitt |Francesca Nicasio |Emily Polner

Efficient inventory management is the backbone of any successful retail operation. It ensures products are available when customers are ready to buy them, prevents overstocking and reduces waste. Enter the perpetual inventory system—an increasingly popular approach that offers real-time stock management and eliminates many of the challenges associated with traditional inventory methods like the periodic system.
Use Cases, Benefits & Drawbacks

Jan 6, 2025 | lightspeedhq.com | Jody Hewitt
What is Automated Inventory Management? An Ultimate Guide

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.
What Is Retail Shrinkage? Causes, Types and 7 Strategies to Reduce It

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.
How to Recalibrate Your Finances After the Holiday Shopping Season

Dec 17, 2024 | lightspeedhq.com | Kashmala Omar

In many ways, Black Friday marks the start of the holiday shopping season for shoppers. Fresh off Thanksgiving, consumers flocked online and in droves to malls, outlets, big-box stores and other shops to take advantage of deals, discounts and sales. But how can you ensure your business transitions smoothly from this whirlwind of a holiday shopping season? That’s what we’re here to talk about.
Inventory Liquidation: A Guide for Retail Businesses

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.
GST/HST Tax Break in Canada: Some Helpful Information for Businesses

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.
How Flexible Payment Options Can Attract Customers and Drive Sales

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.