Rocketing Retail Profits

Excellence in retail merchandise planning


Price : $24.95



A store cannot optimize sales, market share, profit or cash without a viable and accurate plan. Guessing about inventory balance, timing, flow and management is no longer sufficient for success. Merchandise planning has a direct impact on your business. In addition, you must be well versed in how to select the right source for your merchandise plans. Great buyers and great sellers are critical to retail success however, most do not have the love of budgeting, planning, controlling cash flow and managing inventory that is imperative for a healthy bottom line. It's time to stop operating from the gut and study the facts. This book provides an end to end look at the process of Merchandise Planning. It examines the critical functions of buying and planning. It engages through interactive and practical exercises which will assist in grounding you in the fundamentals and sharpening the skills and insights of those whom are more experienced. This book will help you add significant dollars to your bottom line.

  • Understand how business strategy provides structure and direction to assortment and financial planning
  • Understand the critical relationship between assortment and financial planning and the respective roles of the planner and buyer
  • Link key tasks in the role as a Planner to the overall plan for the business category
  • Work constructively with buyers to optimize sales, margin and stockturn
  • Identify six assortment strategies
  • Develop a "bottom-up" sales forecast using history and external trends and data
  • Understand the role of the planner in forecasting, ordering and allocation and apply knowledge to improving performance
  • Implement three different forms of analysis in their appropriate context– for tracking, trend and for forecasting
  • Develop an action oriented approach to analysis to improve financial outcomes
  • Identify the required sell-through rates of products at various stages in the selling cycle, taking into account:
  • Type of product (level of fashion)
  • Product life cycle
  • Implement appropriate and timely markdown action on slow selling lines
  • Review sales to identify high performance lines in order to initiate action to capitalise on the performance
  • Review forward cover and take appropriate action to ensure product availability
  • Monitor the performance of trials and implement appropriate action to capitalise on winners and reduce risk on non-performers
  • Work in partnership with stores to understand the reasons behind performance above/below plan and use that understanding to develop appropriate and timely action
  • Work with planner to develop "exception reporting" tools that capture high and low performers
  • Identify and document factors affecting sales performance in order to build the information into future seasonal forecasts
  • Conduct a post season review to identify opportunities to improve range performance in future seasons

Author(s):Prakash Menon and Andrew Cavanagh
Format:Hardcover
Language:English
ISBN:978-0-9945604-4-5
Dimensions:30.6 x 21.6 x 1.8 cm
Weight:1 Kg

   
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