Return on Inventory
By Joe Palzkill
About Joe
Joe is vice president of sales and business development at Direct Tech, Inc., a company which helps catalog and e-commerce retailers drive profitability, increase demand and optimize inventory investment by providing best-in-class applications and services. Joe is a member of Direct Tech’s seasoned management team, which has more than 150 years experience with demand planning, inventory optimization and merchandise planning in the multichannel retail industry. For more than two decades, Direct Tech’s applications and services have enabled leading multichannel brands to grow their businesses.Joe is a 28-year veteran of the direct merchandising industry with hands-on experience in marketing, merchandising, inventory management and business development at multichannel retail companies including Lands’ End, LifeSketch.com, Nordstrom.com and Duluth Trading Company. At Direct Tech, Joe uses his experience to help customers and prospects understand how to improve sales and profits through applying industry best practices in merchandise planning and inventory management systems and processes.
Retail Rambles
SkyMall Helps You Prepare for the End of the World
Apr 2, 2012Perhaps I've been watching too much of "The Walking Dead" or maybe too many episodes of "Doomsday Preppers," but my paranoia about the...
Retail Rants & Raves
Really ‘Fair and Square’? How J.C. Penney Alienated a Valuable Customer
Mar 12, 2012Shoppers want to think they're getting a good deal. By taking advantage of sales and using coupons, they get that...
Shipping Insights
Parcel Rate Increases for 2012
Dec 19, 2011UPS has announced 6.9 percent air increases, partially offset by a 2 percent fuel surcharge reduction. It's also announced a...
ThinkAbout: Inspirational Verve for Your Product Line!
Can You Up the Ante on Your Products’ Amusement Factor?
Oct 17, 2011Can you up the ante on any of your products’ amusement factors? Is there some ho-hum aspect of your product...
Return on Intelligence
The New CompUSA Rights a Wrong
Mar 16, 2011Two weeks ago in my blog, I totally skewered CompUSA and its warranty company (found out it's Assurant Solutions)...
Creating Positive Customer Experiences
How to Love Your Customers So They’ll ‘Just Love’ Your Business
Feb 14, 2012Customer loyalty is customer love for doing business with you. In fact, neuroscientists studying consumer behavior have discovered that when...
4 Multichannel Inventory Planning Best Practices
It seems every retailer I've spoken with recently is scrambling to gain control of their inventory planning, regardless of channel. It's not just the cross-channel marketers fighting it; even pure-play internet retailers are struggling to support their "minichannels" — search engine optimization, search engine marketing, email marketing, Amazon stores and more.
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How to Manage Nonproductive Inventory, Part 2
Left unaddressed, nonproductive inventory can be a major financial drag on your business. But you can reduce its negative impact and even create some positive outcomes by following the simple guidelines laid out here.
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How to Manage Nonproductive Inventory, Part 1
An inherent fact in retailing is nonproductive inventory — i.e., inventory that's sitting idle in stores or distribution centers with no immediate sales plan for moving it. Nonproductive inventory can be overstocks (inventory you own that exceeds projected future sales, primarily for discontinued and soon-to-be-discontinued items) and too-much-too-soon inventory, for which you have a future sales plan but your weeks-of-inventory ownership is far greater than needed. Both can have a...
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How Inventory Planning Supports Marketing Decisions
Many smaller retailers simply don’t believe that improvements in inventory planning will provide enough incremental profit gain for a company its size to justify investing in staff, systems or processes. However, they may be overlooking a crucial piece of the puzzle: how inventory planners help marketing and merchandising grow sales and increase gross margin.
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Planning for Inventory Returns
Retailers are in the midst of the holiday peak. While the sales peak ends at Christmas for most, the inventory returns peak is yet to come. This annual phenomenon invariably creates waves, especially if you sell products with typically high return rates (e.g., footwear and apparel).
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