David Rivera

In this article, we’ll define predatory pricing and take a closer look at how it works, its short- and long-term effects, and real-world examples. How Does Predatory Pricing Work? Predatory pricing is a strategy that unethical businesses adopt for customers to flock toward their goods or services and away from competitors—often those with smaller financial…

The bullwhip effect occurs when small changes in customer demand cause large changes in ordering and inventory upstream in the supply chain. The name comes from the physics of using a whip—a smaller force or movement at one end can result in a much more powerful movement at the other end. In this article, we’ll…

Supplier relationship management (SRM) is the set of practices and approaches that a business uses to create and maintain a friendly, productive relationship with its suppliers. The purpose of building a good relationship with suppliers is to increase the efficiency and reliability of your inventory flow, purchasing operations, and product sourcing—reducing overall costs and wasted…

Though startup costs can vary from business to business, almost all new businesses will have at least a few expenses, such as getting a business license, setting up a website, and marketing. Some costs of starting a business are not required but are helpful, such as an initial emergency fund or equipment. For the simplest…

Shrinkflation is the process of companies shrinking the size or quantity of products while maintaining the same product prices. This results in financial savings for the company producing the goods, but it can also make consumers feel frustrated or cheated. Shrinkflation is caused by rising production costs that lead retailers to find ways to save…

A good salon point-of-sale (POS) system not only lets you take appointments and easily process payments, but it also tracks customer preferences, inventory, and, in some cases, payroll information. We regularly evaluate and test the top POS systems and select the best systems specifically designed for salons. Based on our evaluation, the best salon POS…

In 3D printing, a special printer creates three-dimensional physical objects via an additive manufacturing process. 3D printing has been around in some form for decades, but only in recent years has the technology become so prevalent and so available that anyone with a few hundred dollars to spare can own a 3D printer at home….

Starting a business as a student carries a few extra challenges: you’d likely be working with a very small starting budget and you won’t have much work experience. But this doesn’t mean you have nothing to offer. Like any other place, a school campus is filled with people who need things—things that you can provide,…

Online businesses are easy to scale and often cheap to set up, making them the perfect venture for first-time entrepreneurs. You’ll find many success stories of people with 9-to-5 jobs who have turned their small investment into a successful online brand. This article features the best online business ideas to help you get started. 1….

As an artist, you may have specific visions for your work, its presentation, and even your future business. And, up until this point, you’ve likely sustained your artistry through pure passion alone. However, if you want to turn that passion into income and sell art online, it’s time to take the following steps. Step 1:…

Although you can create and manage a loyalty program independently, good customer loyalty program software will help streamline your operations. The best software will also provide automation features and unique loyalty elements that you can utilize to encourage customer retention and drive sales. We looked at over a dozen customer loyalty program software and narrowed…

The point-of-sale (POS) system is a business command center for retail merchants worldwide. Modern POS technology allows retailers to do much more than simply process payments and transactions. Some of the benefits of a POS include the ability to track inventory, monitor data in real time, build customer loyalty, sell online, and even operate in…