BIG Tip of the Month 9-16-14
When is your store the most vulnerable to theft? When the safe is opened and the merchandise has not yet been set and locked in the showcases (during store opening procedures). The same applies to your closing procedures. Keep Doors Locked - During opening and closing processes. Do not leave door unlocked because an employee "will be there shortly". Always [...]
BIG News in September
Thoughts from Ann Arnold, BIG's Chief Strategy Officer We constantly hear from our clients and colleagues that this industry has to change. For those that do not know me, prior to joining the BIG team earlier this year, my family and I owned Lieberfarb bridal manufacturing company for over 40 years. As many others in this industry, I grew up [...]
A Method of Determining Inventory Levels for Retail Jewelers
It’s important to understand the nature of budgeting inventory using a formula. I have attempted in this article to explain an approach for determining inventory levels that can be used by any business, regardless of its makeup. However, using a goal, such as GMROI to arrive at an inventory budget does not address the myriad strategic decisions that should [...]
Ann Arnold Joins BIG
Buyers Intelligence Group (BIG) is pleased to announce a new addition to the BIG team, Ann Arnold as Chief Strategy Officer. Ann will focus on integrating BIG's three powerful industry products, enabling the company to provide a comprehensive, scalable, industry solution that delivers dramatically improved performance to jewelry retailers and manufacturers. Arnold is a 27-year veteran of the fine jewelry [...]
The Profit
by Abe Sherman I’m not a big fan of reality television, but there is one show that every business owner should be watching. The Profit, which debuted last fall, stars Marcus Lemonis, a billionaire investor who is called in to save ailing companies. Regardless of the products the company sells, his approach is to make sure the three P’s [...]
New Sales Report!
By Abe Sherman We are excited to launch the new Balance to Buy™ Sales report. The new Sales report is an extremely comprehensive view of your sales data, which you will be able to run Daily, Weekly or Monthly. Clients were asking us to design a sales report that they would receive automatically each day showing sales from the day [...]