Retail merchandising involves developing, pricing, supporting, and communicating a retailer's product assortment. It aims to offer the right products at the right time, price, and appeal. Merchandise management encompasses analysis, planning, handling, and control of products. The merchandise planning process involves developing sales forecasts, determining product requirements, merchandise control using tools like open-to-buy, and assortment planning to determine product quantities.
Managing the merchandise and retail marketingSanjay Jana
these are very useful slides related to retail marketing and merchandise management. it helped me a lot in understanding the changing scenario of the consumers from unorganized retailing to organized retailing.
Managing the merchandise and retail marketingSanjay Jana
these are very useful slides related to retail marketing and merchandise management. it helped me a lot in understanding the changing scenario of the consumers from unorganized retailing to organized retailing.
Key measure of the retailer’s success is selling as much merchandise as possible at the highest profit margin.
Retailers can no longer depend on random sourcing / buying in the hope that they will sell them all.
There are two major areas of profit leakage in retail. Firstly - lost sales resulting from lack of stock, and secondly - forced margin reductions (markdown) due to excessive stock.
There are processes and solutions in order to reduce and eliminate excess inventory and maximise profit. That is "Merchandise Planning".
Merchandise Planning is "A systematic approach by the retailer, aimed at maximising return on investment, through sales & inventory planning, in order to increase profitability”.
Main goal of Merchandise planning is to maximize the use of assets, and resources a company owns.
In the long run, effective merchandise planning can save time, help streamline business processes and objectives, and optimize and mobilize inventory to get it off the shelves into the hands of the consumers for the right price.
Details about Merchandise management and product decisions related with. It is a part of Retail Marketing. Interested people can gather knowledge from this PPT
Key measure of the retailer’s success is selling as much merchandise as possible at the highest profit margin.
Retailers can no longer depend on random sourcing / buying in the hope that they will sell them all.
There are two major areas of profit leakage in retail. Firstly - lost sales resulting from lack of stock, and secondly - forced margin reductions (markdown) due to excessive stock.
There are processes and solutions in order to reduce and eliminate excess inventory and maximise profit. That is "Merchandise Planning".
Merchandise Planning is "A systematic approach by the retailer, aimed at maximising return on investment, through sales & inventory planning, in order to increase profitability”.
Main goal of Merchandise planning is to maximize the use of assets, and resources a company owns.
In the long run, effective merchandise planning can save time, help streamline business processes and objectives, and optimize and mobilize inventory to get it off the shelves into the hands of the consumers for the right price.
Details about Merchandise management and product decisions related with. It is a part of Retail Marketing. Interested people can gather knowledge from this PPT
[DSC Europe 22] Riddles in Supply Chain Management - How AI solves them - Nin...DataScienceConferenc1
In the talk, we will look at how the use of artificial intelligence can help supply chain management – from optimising inventory levels and production planning to the ordering process itself, applied to a distribution centre and a manufacturing company. The talk will go through the challenges of Supply Chain Management, and we will present what artificial intelligence methods are, and how they are used to predict a demand for products on the market and optimise the production and purchasing of products or raw materials.
No Sales, No Business and No company!! Hence, regardless of an Industry, Inventory Management is important Supply Chain Management. It may be Hospital, Retail Store or what not, all need to sell on pull basis - not push.
Classifying inventory items by their value using ABC analysis has long been associated with “always better control”. However, classifying items based on one or two value factors can be too simplistic and limiting in today’s dynamic supply chain. To resolve the shortfalls, inventory can be optimized by pairing ABC analysis with XYZ analysis which classifies inventory items based upon their amount of demand variation.
With the combination of ABC analysis and XYZ analysis, inventory managers can effectively collaborate with other key functional managers in production, sales, logistics, accounting, and procurement. These functional departments can better work together to increase inventory optimization.
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• Refine inventory management policies and develop systems to implement best practices.
• Optimize the trade-offs among the costs, risks, and benefits of holding inventory.
• Break down of functional silos within an organization while factoring in stakeholders’ needs into the inventory policy.
• Better alignment of inventory systems and procedures with corporate strategic objectives.
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"𝑩𝑬𝑮𝑼𝑵 𝑾𝑰𝑻𝑯 𝑻𝑱 𝑰𝑺 𝑯𝑨𝑳𝑭 𝑫𝑶𝑵𝑬"
𝐓𝐉 𝐂𝐨𝐦𝐬 (𝐓𝐉 𝐂𝐨𝐦𝐦𝐮𝐧𝐢𝐜𝐚𝐭𝐢𝐨𝐧𝐬) is a professional event agency that includes experts in the event-organizing market in Vietnam, Korea, and ASEAN countries. We provide unlimited types of events from Music concerts, Fan meetings, and Culture festivals to Corporate events, Internal company events, Golf tournaments, MICE events, and Exhibitions.
𝐓𝐉 𝐂𝐨𝐦𝐬 provides unlimited package services including such as Event organizing, Event planning, Event production, Manpower, PR marketing, Design 2D/3D, VIP protocols, Interpreter agency, etc.
Sports events - Golf competitions/billiards competitions/company sports events: dynamic and challenging
⭐ 𝐅𝐞𝐚𝐭𝐮𝐫𝐞𝐝 𝐩𝐫𝐨𝐣𝐞𝐜𝐭𝐬:
➢ 2024 BAEKHYUN [Lonsdaleite] IN HO CHI MINH
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➢ Winner [CROSS] Tour in HCM
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➢ HCMC - Gyeongsangbuk-do Culture and Tourism Festival
➢ Korean Vietnam Partnership - Fair with LG
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➢ Vietnam Food Expo with Lotte Wellfood
"𝐄𝐯𝐞𝐫𝐲 𝐞𝐯𝐞𝐧𝐭 𝐢𝐬 𝐚 𝐬𝐭𝐨𝐫𝐲, 𝐚 𝐬𝐩𝐞𝐜𝐢𝐚𝐥 𝐣𝐨𝐮𝐫𝐧𝐞𝐲. 𝐖𝐞 𝐚𝐥𝐰𝐚𝐲𝐬 𝐛𝐞𝐥𝐢𝐞𝐯𝐞 𝐭𝐡𝐚𝐭 𝐬𝐡𝐨𝐫𝐭𝐥𝐲 𝐲𝐨𝐮 𝐰𝐢𝐥𝐥 𝐛𝐞 𝐚 𝐩𝐚𝐫𝐭 𝐨𝐟 𝐨𝐮𝐫 𝐬𝐭𝐨𝐫𝐢𝐞𝐬."
Discover the innovative and creative projects that highlight my journey throu...dylandmeas
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Have you ever heard that user-generated content or video testimonials can take your brand to the next level? We will explore how you can effectively use video testimonials to leverage and boost your sales, content strategy, and increase your CRM data.🤯
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Falcon stands out as a top-tier P2P Invoice Discounting platform in India, bridging esteemed blue-chip companies and eager investors. Our goal is to transform the investment landscape in India by establishing a comprehensive destination for borrowers and investors with diverse profiles and needs, all while minimizing risk. What sets Falcon apart is the elimination of intermediaries such as commercial banks and depository institutions, allowing investors to enjoy higher yields.
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Visit : https://www.avirahi.com/blog/tata-group-dials-taiwan-for-its-chipmaking-ambition-in-gujarats-dholera/
1. Retail Merchandising is the process of
developing, securing, pricing ,supporting
and communicating the retailer’s
merchandise offering.
It means offering the right product
at the right time at the right price
with the right appeal!!
3. The process of merchandise planning
1.Developing the sales forecast:
• Review past sales
• Analyze economic conditions
• Analyze the changes in the sales potential and marketing strategies
2.Determinig the merchandise requirements
• The creation of Merchandise Budget:
1)The sales plan,
2)The stock support plan,
3)The planned reductions
4)The planned purchase level
5)The gross margins
• Types of merchandise
4. The process of merchandise planning
3.The Merchandise Control:
Open to buy
4.Assortment Planning:
Determine the quantity of each product. Details of color, size
brand, materials
6. PRODUCT PROFIT
• The profit margin a product earns is a well
established performance measure
– Gross margin (mark-up)
• The difference between cost and selling price
– A mark-down is a price reduction that reduces the
gross margin
7. PROFITABILITY
• The profit a product generates depends on:
– gross margin
– rate of sales
• GMROI (Gross margin return on investment)
allows a retailer to compare the performance of
products with different % profit margins and
different sales turnover
• GMROI=Gross Margin/Average inventory at cost
9. Types of Buying Systems
Staple Merchandise Fashion Merchandise
Predictable Demand Unpredictable Demand
History of Past Sales Limited Sales History
Relatively Accurate Forecasts Difficult to Forecast Sales
10. Staple Merchandise Buying System
Monitor Compare
Forecast Order Inventory
SKU Sales and
Merchandise to Basic
Sales Inventory
Stock List
11. Considerations in Determining
How Much to Order
• Basic Stock Plan
• Present Inventory
• Merchandise on
Order
• Sales Forecast
– Rate of Sales of SKU
(Velocity)
– Seasonality
12. Basic Stock List
Indicates the Desired Inventory Level for Each SKU
– Amount of Stock Desired
Lost Sale Due
to Stockout
Cost of Carrying
Inventory
14. Cycle and Buffer Stock
150 -
Order 96
Cycle
100 - Stock
Units Available
50 -
Buffer
0- Stock
1 2 3 4
Weeks
15. Forecasting Demand
Forecasting -- extrapolating the
past into future using
statistical and mathematical
methods
Objectives:
– Ignore random
fluctuations in demand
– But be responsive to
real change
16. Order Point
• Order point = the point at which inventory
available should not go below or else we
will run out of stock before the next order
arrives.
• Assume Lead time = 0, Order point = 0
• Assume Lead time = 3 weeks, review time =
1 week, demand = 100 units per week
• Order point = demand (lead time + review
time) + buffer stock
• Order point = 100 (3+1) = 400
17. Merchandise Budget Plan
• Plan for the financial aspects of a
merchandise category
• Specifies how much money can be spent each
month to achieve the sales, margin, inventory
turnover, and GMROI objectives.
• Not a complete buying plan--doesn’t indicate
what specific SKUs to buy or in what
quantities.
18. Steps in Preparing Plan
• Forecast Six Month Sales for Category
• Breakdown Total Sales Forecast into Forecast for each Month
• Plan Reductions for Each Month
• Determine Beginning of the Month (BOM) Stock to Sales
Ratio
• Calculate BOM Inventory
• Calculate EOM Inventory
• Calculate Monthly Additions to Stock
19. Open to Buy
• Monitors Merchandise Flow
• Determines How Much Was Spent and
How Much is Left to Spend
20. Open to Buy
Limits overbuying and under buying
Prevent loss of sales due to unavailability
Maintains purchase within the budgeted limits
Reduce markdowns which may arise due to
excess buying
21. Open-to-buy for Past Periods
Projected EOM stock = actual EOM stock
Open-to-buy = 0
There is no point in buying merchandise for a
month that is already over.
22. Open-to-Buy for
Current Period (I)
• Projected EOM stock =
• Actual BOM stock
• + Actual monthly additions to stock (what was
actually received)
• + Actual on order (what is on order for the
month)
• - Plan monthly sales
• - Plan reductions for the month
23. Open-to-Buy for
Current Period (II)
• Open-to-buy =
• Planned EOM stock (from merchandise
budget plan)
– Projected EOM stock (based on what is really
happening)
25. ABC Analysis Rank Merchandise
By Performance Measures
Contribution Margin
Sales in Units
Gross Margin
GMROI
Use more than one criteria
26. ABC Analysis for Dress Shirts
C 100
10% 90 Sales
B
20% 80
70
60
Percentage of Sales Dollars
A 50
70% 40
30
20
10
0
No Sales
10 20 30 40 50 60 70 80 90 100
A B
5% 10% 65% C 20% D
Percentage of Items
27. ABC Analysis
Rank - orders merchandise by some
performance measure determine which
items:
– should never be out of stock.
– should be allowed to be out of stock
occasionally.
– should be deleted from the stock selection.
28. Sell Through Analysis Evaluating Merchandise Plan
A sell-through analysis compares actual and planned sales to determine
whether more merchandise is needed to satisfy demand or whether price
reductions are required.
13-28
29. Evaluating a Vendor:
A Weighted Average Approach
n
Ij *P ij = Sum of the expression
i 1
= Importance weight assigned
I j to the ith dimension
= Performance evaluation for
Pi jth brand alternative on the
jth issue
1 = Not important
10 = Very important
30. Evaluating a Vendor:
A Weighted Average Approach
Performance Evaluation of Individual
Brands Across Issues
Importance
Evaluation Brand A Brand B Brand C Brand D
Issues of Issues (I) (Pa) (Pb) (Pc) (Pd)
(1) (2) (3) (4) (5) (6)
Vendor reputation 9 5 9 4 8
Service 8 6 6 4 6
Meets delivery dates 6 5 7 4 4
Merchandise quality 5 5 4 6 5
Markup opportunity 5 5 4 4 5
Country of origin 6 5 3 3 8
Product fashionability 7 6 6 3 8
Selling history 3 5 5 5 5
Promotional assistance 4 5 3 4 7
Overall evaluation = 290 298 212 341
n
I j * P ij
i 1