Retail Operations Posts

Online to In-Hand: Managing Virtual Inventory

In the highly competitive landscape that is retail, it’s all about saying “yes” to your customer—“yes, we have that product in-stock,” “yes, we can order it for you,” and “yes it can get shipped to your home.” Strong virtual inventory practices allow for a leaner, more agile inventory operation. This means carrying core product groups in-store while still being ready to fulfill any number of orders not in your physical inventory. All in all, a well-managed virtual inventory will set you up for success when it comes to satisfying customer demands.

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[Video] What the Heck is an API and Why Would you Need One?

I have a confession to make. When I entered the software world, I didn’t really understand what an API was. I knew it wasn’t to be confused with a type of craft beer, but I was struggling with understanding APIs beyond that!

I came to realize that an API, or an Application Program Interface, could help increase business efficiencies and somehow connect different software systems together but that was the extent of my knowledge.

Today we’re going to break APIs down a bit and explain just some of the things that they can do for you.

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Leading with Excellence in Device Repair

There is no finish line when it comes to learning, networking or growing your business. The name of the game is value and first place trophies are engraved ‘best customer experience.’ Even without the trophy ceremony, you’ve already won the retail game. Many do not realize it yet. Your customers drop off and pick up their devices at your store. What other retailer has the chance to see the same customer twice within a day or even within an hour? What are you doing with that customer experience? Unfortunately, for many, their answer is “not enough.”

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The 3 Biggest Challenges Faced by Repair Stores and How to Fix Them

This is a guest blog post written by iQmetrix Integrated Partner, Sourcely.

For many years now, mobile devices have been a significant part of our lives. They are no longer a luxury, but a true necessity to communicate, plan, purchase, navigate, acquire information, share memories, and (let’s be honest) just pass the time. 

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Service & Repair Dealers' VMI Integration

This just in! iQmetrix is pleased to announce the launch of our new Service and Repair Vendor Managed Inventory (VMI) partners. These integrations create a seamless experience between our Service & Repair vendors, RQ and our RQ Repair customers. It will help to connect parts inventory and supply chain management all in one quick streamlined process.

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The Do's and Don't for a Wireless Retailer

As a business owner, there are many aspects of your business that keep you awake at night such as optimizing operations, maximizing profits, increasing customer conversion rates, along with many others. In an attempt to ease your mind (so you can get back to a restful sleep), we’ve compiled some tips and tricks about two important facets of your business; investing in your sales staff and optimizing the in-store experience. Let’s look at how we can create a loyal, repeat customer—one opportunity at a time!

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8 Essential Steps to Increase Profits and Stay Competitive

From selling high-consideration products with constantly changing variety to long repurchase cycles, multi-layer sales transactions, and complex add-ons, cell phone dealers face some unique challenges in the world of retail. Add in increasing competition and changing consumer demands, you may be asking yourself, how can you manage to increase profits and stay competitive at the same time?

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Your Data, Your Way: Become a Master of Reporting

Businesses that make decisions based on data have 6% higher profits on average. What does that mean for you? It means that successful businesses ensure they have the right tools and necessary information to make key decisions, and if that isn’t your business, you’re missing out on revenue potential. So, where do you start?

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[Video] Service & Repair: The New Buzzword

The service & repair industry has been around for years, but recently it has been becoming a large buzz word in wireless. But it’s more than just cell phone repair; it’s the ever-changing landscape of what needs to be repaired. These products range from cell phones and drones to even home security systems.  It’s a fast-paced industry that will continue to change and in order to allow for that change—while still being able to grow and profit—retailers need to be thinking about processes. 

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The Ideal Merchandising Strategy According to Psychology

You've probably heard the saying "presentation is everything". At iQmetrix, we tend to agree: the way a place or product looks can have a huge impact on how we feel about it. This holds true for brick-and-mortar store locations. A wireless retailer's store environment can have a profound affect on how customers perceive a brand and their likelihood to make a purchase—and visual merchandising plays a big part in creating the right atmosphere to drive sales and gain customer loyalty.

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All Things Inventory

In case you haven’t heard, the RQ Bootcamp is right around the corner! Hosted March 25 - 27, 2018 in Scottsdale, Arizona, the RQ Bootcamp is an in-depth, 3-day intensive training on all the key features of your RQ retail management system. Attendees will hone their operational skills with actionable takeaways, enabling them to become power users of RQ.

To get you excited for this awesome event, the iQmetrix blog will be highlighting four key areas that will be the focus of the educational tracks at Bootcamp: Inventory, Operations, Finance, and Reporting.

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How They Work: Defining Endless Aisle, Dropship, and RQ

These days buzzwords are more abundant than ever, and wireless is no exception. Two commonly confused terms in the industry are Endless Aisle and Dropship. To provide some clarity, we’ll begin with some definitions and then we’ll go into how Endless Aisle and Dropship work together with our POS software, RQ, to provide endless product options to your customers, allowing you and your sales associates to say nothing but YES.

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How Can New Wireless Companies Still Compete?

The wireless retail market gets more crowded all the time. In 2017, Comcast entered the scene with its new Xfinity Mobile offering, creating ripples across the industry as other major telecommunications companies followed suit. On a smaller scale, hundreds of independent stores, chain expansions, and new carriers opened throughout North America last year. That leads to an obvious question: how can new companies compete in a saturated market with a number of well-established players? There may be no easy answer, but there are a number of strategies that can help upstart wireless companies gain an edge.

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