Columnists David Brown

David Brown

Managing your aged inventory – part II

In our last article we discussed how to manage aged inventory while attempting to recover full price on the item. This month we look at strategies that involve selling it at a discounted price.

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7 Steps to Manage Aging Inventory at full price

Whenever we talk to jewelers there are always two issues that are first and foremost in their minds and create the greatest anguish. The first is problem staff and how to...

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The importance of a solid budget

Don’t let your eyes glaze over – I know this topic isn’t high on the list of priorities of many jewelers, but just because it’s not enjoyable doesn’t mean it’...

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Make money from your repairs

Repairs often suffer as the ugly sister of many jewelry businesses. Compared to the more glamorous gold and silver departments, many stores leave repairs to take care of ...

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It’s time you got Lazy

Many of you will be familiar with the 4 quadrants style of management that has developed in the last twenty years or so. In this process it often talks about the 4 types ...

How are you handling the gold price?

With gold having shot through the $1500 mark at the time of writing, jewelers are increasingly finding the cost of replacing sold product to be a changing game. This mont...

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Profit vs Cash flow - what’s the big deal?

Profit vs Cash flow - what’s the big deal?

If you are running a business, you better know there is a big difference between profit and cash-flow. Though they seem similar, they are not, and you run the risk of put...

The true cost of aged inventory

One of the biggest headaches for most retail jewelers is the issue of surplus inventory and what to do with it. In many cases the majority of this product has become old,...

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It’s Trade Show Season – so, are you prepared?

The next few months promise to be busy ones for most stores with trade shows and group meetings taking up a good chunk of the calendar. Often, depending on their store lo...

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