In a research report in 2015, IHL Group, a retail analyst firm, found that $1.75 trillion dollars are lost every year due to the ghost economy. The term ghost economy is unknown to many retailers. It’s the hidden costs that appear due to inefficiencies that are preventable. They are made up of many components. Instead […]
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Using Artificial Intelligence in Inventory Management
In order to grow your business, you must consider some key factors that will affect inventory management. When working with stock you are always managing inventory levels, optimizing space, dealing with inaccurate forecasting, along with customer satisfaction. All these factors are unavoidable. Without the proper technology, it is extremely difficult to keep track of everything. […]
Top 5 Clear Spider Blog Posts of 2018
Over the past year, we have covered a wide range of topics related to Inventory Management. Here are the top 5 Clear Spider blog posts of 2018: What is Lean Inventory Management? Cycle Count Best Practices: The Top 5 Things You Should Be Doing 3 Ways IKEA Aces Inventory Management (And You Can Too) The […]
How Vision Picking Transforms Inventory Management
Vision picking is the process of efficiently picking items out of inventory to fulfill an order. Augmented reality (AR) layers virtual SKUs and paths onto real life. How do these two things fit together? Vision picking is simply an application of AR in supply chain. This emerging technology is making strides in warehouse management, and it’s […]
3 Ways Amazon Aces Inventory Management
What’s the secret to Amazon’s booming success? How do they manage over 3 billion products across 11 marketplaces and still have potential for growth? In 2017 alone, Amazon generated more than $177 billion in sales, and year over year they see a growth rate of at least 27%. When it comes down to it, it’s […]
The BOPIS Model: A Guide to Inventory Management
Introduction to BOPIS BOPIS is an acronym that stands for buy online, pickup in-store. This model is a strategy that many retailers have adopted in order to keep up with consumer demand for convenience. It’s an extension of online shopping that gives the customer freedom to browse online, but also allows them to save on […]
