Students are in for a treat at the 2019 NRF Foundation Student Program. Top retail brands such as Kohl's, PetSmart and others will host registered attendees at their New York City locations to tour their store and talk with associates and executives on their team. Sign up.
The new class of retail entrepreneurs looks and thinks a little differently than those before them. Using new data from NRF's 2018 Small Business Owners Survey, NRF Research Director Sam Berndt outlines four ways new retail business owners differ from their more established peers. Read more.
Dynamic pricing enables businesses to react to market fluctuations, avoid volume losses and improve profit, according to this McKinsey analysis. "Identify potential impact in order to create a strong business case and ensure the top team is fully aligned with and committed to capturing that potential," the authors advise as a first step.
Manufacturers can differentiate themselves through clearly defined core values, writes Web Industries executive Kevin Young. Consider how the company has changed, embrace continual improvement and use deal-making to strengthen key focuses.
Lean initiatives and other process-improvement strategies struggle to hold initial gains, according to five years of data covering more than 200 projects at a European bank. While clear communication and having executives act as coaches can help such initiatives get going, companies must also mitigate the malaise that can set in after the initial stages of an improvement project.
More than 70% of respondents to the State of Logistics Outsourcing Study said they are investing in enterprise resource planning software, with lesser proportions investing in visibility tools or warehouse or transportation management systems. This year's survey found "only 55 percent of shippers declared themselves satisfied with what [third-party logistics partners] are giving them in the area of technology," writes Robert Bowman.
Businesses can inspire better safety, financial outcomes and reduced employee turnover by taking a transformational approach to leadership, writes Richard Fulwiler, a faculty member at the Harvard School of Public Health. He shares data from a Cintas facility that demonstrates tangible effects of what he calls "a culture of caring."
Modern manufacturing is a thriving, highly competitive industry that offers workers the potential for strong compensation, write the Manufacturing Institute's executive director, Carolyn Lee, and Susan Elkington, president of Toyota Motor Manufacturing in Kentucky. The next step, they argue, is for manufacturers and educators to work more closely together on education.
Generation X is a smaller group than millennials, but they're a critical workforce segment that should be valued for their experience and leadership potential, writes John Fish, chairman and CEO of Suffolk. "As the bridge between baby boomers and millennials, Generation X drives execution and brings new ideas to reality," he writes.
BrodyCo purchased 8 acres of the Lakewood Shopping Center in Durham, N.C., with the goal of redeveloping 82,000 square feet of retail. The retail center, anchored by Food Lion and Dollar General stores, was obtained during a foreclosure sale.