The Retail Inventory Method (RIM) of accounting offers the unique opportunity to devalue inventory by recognizing the cost of markdowns to provide more accurate forecasting, accountability, and lower taxes. However, since it applies a cost to markdowns and sales based on a Cumulative Markup of all inventory in the same class and store, it has […]
The Anatomy of Loyalty Plans
Loyalty programs are an ideal way to maximize the Return on Investment (ROA) of marketing efforts as they are targeted for retention of the most loyal and most profitable customers as well as creating more advocates from the pool of existing customers. We all know that it costs more money to attract new customers than […]
New Physical Inventory Device
We are happy to announce support for the AML LDX10 Mobile Handheld for taking physical inventories. We are impressed with this integrated design based on Windows® Embedded 6.0 with a rugged case, built in touch screen, tactile keyboard and built-in scanner. But it’s best feature is the ability to load a validation file of all […]
Diagramming a Data Breach
Nobody thinks a credit card breach can ever happen to them. Until it does. These are some frightening statistics. Click on image to enlarge
Why the Retail Inventory Method Isn’t Obsolete
There have been several posts claiming that modern technology has made the Retail Inventory Method (Retail Method) obsolete for valuing inventory. While all these articles have valid claims regarding the retail method’s limitations, it doesn’t mean the valuation method is obsolete. The difference is to know when the Retail Method should be used, and when […]
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