Perhaps the most important consideration for a merchant in securing sensitive credit card information is the level of credit card data being retained. The card retention level has a direct correlation to the level of the Self Assessment Questionnaire that merchants must complete to be PCI-DSS compliant (see the related article PCI: Data Security Standard […]
The Cost of Security is Not Expensive
Can you afford not to accept credit cards in your store? NO! Can you afford costs in excess of $50,000 if your system is breached? NO! Can you afford security? You can’t afford to NOT have a secure system! If your credit card data is compromised, you will be held responsible for the loss as […]
Merchandise Planning – Friend or Foe?
Budgets? We don’t need no stinkin’ Budgets! No one likes to hear that dreaded phrase: “Sure it would be great, but it’s not in the budget!” That one expression always seems to bog down progress, innovation, and the entrepreneurial spirit! But, as our friendly controller reminds us, “Without a budget, we can’t make profits; without […]
Effective Inventory Management – The Importance of Planning
The ongoing challenge for every independent specialty retailer is the constant need to increase sales, control expenses and improve profitability. Because of these key business factors it is more important than ever for today’s retailer to effectively manage their largest investment: inventory. Maximizing the return on inventory investment is the key to profitability in retailing. […]
How to Set Up a 4-5-4 Calendar
The 4-5-4 Calendar is ideal for merchandise analysis and planning as it divides the year into comparable periods of time. Rather than incrementing periods based on the Gregorian calendar, the 4-5-4 Calendar divides the year into four and five week periods. Unlike the Gregorian calendar, the 4-5-4 calendar assures that comparable periods always include not […]
