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Retail
What Is Merchandise Planning? 2024 Guide for Retailers
Merchandise planning is the strategic management of product procurement, allocation, and sales to maximize profitability. It is a critical aspect…
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Financing
The Prime Rate: What It Is & Why It Matters
The prime rate can affect the interest rate you get on a loan, although lenders may use varying methods. It…
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Restaurants
What Is a Bar Tab? How It Works, Benefits & Tips
A bar tab is a running list of a customer’s orders, organized by name or number so it is easy…
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Retail
Product Validation: What It Is & How to Do It in 2024
Product validation is an important process whether you’re starting a new retail business or launching a new product for your…
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Retail
Level 2 and Level 3 Credit Card Processing Explained
Level 2 and 3 credit card processing are transaction types reserved for businesses that accept payments from other organizations (typically…
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Accounting
Accounts Payable Internal Controls: Best Practices + Free Manual
The main objective of accounts payable internal controls is to reduce the risk of error and fraud that may proliferate…
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Starting a Business
What Is a Franchise & How Does It Work? SMB Guide
A franchise is a business model in which a parent company, or licensor, grants permission to a licensee to share…
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