How Retailers Can Get More Cash Through Strategic Inventory Management l Dane Cohen, Management One

In this episode, Stephanie talks to Dane Cohen, Director of Sales and New Business Development, Management One, LLC.
 
 3:14: Dane joins the family business, Lesters (https://lesters.com/) , a multi-store location in New York, New Jersey, and Connecticut!
4:06: A shift to Management One LLC, (https://www.management-one.com/) Dane uses his diverse background to help strengthen independent and family-owned retail businesses with open to buy and inventory management.
5:31: Motto, “Onwards and Upwards" - guiding clients to success through learning, growth, and evolving together.
6:05: The optimistic approach to business. Play offense when it comes to being a merchant.  To grow the business, you need to attack success!
7:10: The state of independent retail is growth!
10:38:  Cash flow and Inventory.  The simple fact is that more than 50% of your cash is going back into inventory.
13:12: Two big factors for good inventory Budgeting - How much product do you really need and when do you need it to hit your store?
16:00: The need to take risks!  If you have a budget and understand when the product will land, you can take calculated risks!
18:19: Distribution!  Trade shows (https://asdonline.com/blog/retail-news/exhibiting-trade-shows-success-stories/) are critical to source new products and manage relationships with suppliers to ensure you can get product to your store on time!
23:56: Transparency, communication, and problem solving!
24:58: Sourcing! ASD launched Sourcetique, a dedicated platform with vetted manufacturers that can offer lower MOQ and drop shipping fulfillment to large and small boutique buyers.
26:40: Private Label (https://asdonline.com/vendor-preview-2023/) is a genius way for retailers to compete in this economy!  It is your own method of vertical distribution.
28:58: What can you learn from big box retailers.  How data driven decisions help retailers make smart decisions when purchasing inventory.
31:56: Go in with a plan! Dane dishes on how to best prepare to optimize success at tradeshows!

Follow Management One:
Website: Click Here (https://www.management-one.com/)
Facebook: Click Here (https://www.facebook.com/ManagementOne)
Instagram: Click Here (https://www.instagram.com/m1retailexperts/)
Youtube: Click Here (https://www.youtube.com/channel/UCukh7eTZjj2KC5gHlD6HTVg)
LinkedIn: Click Here (https://www.linkedin.com/company/management-one-ltd/)

Follow ASD Market Week:
Instagram: https://www.instagram.com/asdmarketweek/ (https://www.youtube.com/redirect?event=video_description&redir_token=QUFFLUhqbERfV0w5eVltMUhPX0pQY242c19NWGRJQlk1Z3xBQ3Jtc0tsTTFsMHdzZWRtRWpIX0c4UENYclVEOW1LSW9ZQmtqNVpwYkRUaEZDc0gxaTJqWklJNXhScUhtam4waUZ4TjhrNDk5aGpjSmFTYXF2bS11SXdaZkxLcXBnS0RBcEpGbFBScVJuc2RscERJakRhUVMzRQ&q=https%3A%2F%2Fwww.instagram.com%2Fasdmarketweek%2F&v=f0BAlPTbGYA)
Facebook: https://www.facebook.com/ASDMarketWeek/ (https://www.youtube.com/redirect?event=video_description&redir_token=QUFFLUhqa2g4bTFPd0t2MHpfVXJXREo0dmJfVWxMQXF1d3xBQ3Jtc0ttY1J0YWlISlRLWkV6cVZFaW1KWnpSaXluRGNTcVNRQUVXRk9aanNOdjBqeUpKZkk1bkt5UzlEanpSaVYwd2pHcjNEeGlhQ1lQUWYtckl1Y3pSdTRKTVoxU3ZLZmpPRTYtb2V5ay1FWWRhS0lac0hOcw&q=https%3A%2F%2Fwww.facebook.com%2FASDMarketWeek%2F&v=f0BAlPTbGYA)

Видео How Retailers Can Get More Cash Through Strategic Inventory Management l Dane Cohen, Management One канала ASD MARKET WEEK