Retail management-implementing merchandise plans

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Retail management-implementing merchandise plans

  1. 1. What is Merchandise Plan ? Merchandise Plan is the plan to assure marketing the : Right merchandise ; At the Right Place ; At the Right Time ; In the Right Quantities ; At the Right Price.
  2. 2. Implementing Merchandise Plans Gathering Information : After overall merchandising plans are set, more information about target market needs and prospective suppliers is required before buying and rebuying merchandise. In gathering data about the marketplace.a retailer has several possible sources like : Consumer Suppliers (Manufacturer & Wholesalers)
  3. 3. Implementing Merchandise Plans Selecting and Interacting with Merchandise Sources : The next step is to select sources of merchandise and to interact with them. Three major options exist : Company – owned. Outside, regularly used supplier. Outside, new supplier.
  4. 4. Implementing Merchandise Plans Evaluating Merchandise : Whatever sources is chosen, there must be a procedure to evaluate the merchandise under consideration. Three procedures are possible : Inspection. Sampling. Description.
  5. 5. Implementing Merchandise Plans Negotiating the Purchase : A retailer negotiates the purchase and its terms. A new or special order usually results in a negotiated contract, and a retailer and a supplier carefully discuss all aspects of the purchase. A regular order or reorder often involves a uniform contract, since terms are
  6. 6. Implementing Merchandise Plans Concluding Purchases : Many medium-sized and large retailers use computers to complete and process orders(based on EDI),and each purchase is fed into a computer data bank. Smaller retailers often write up and process orders manually, and purchase amounts are added to their inventory in the same way. Yet, with the advances in
  7. 7. Implementing Merchandise Plans Receiving and Stocking Merchandise : The retailer is now ready to receive and handle items. This involves : Receiving and Storing. Checking and Paying Invoices. Figuring on-floor assortments. Completing transactions. Arranging delivery or pickup.
  8. 8. Implementing Merchandise Plans Reordering Merchandise : Four factors are critical in reordering merchandise : Order and Delivery Time. Inventory Turnover. Financial Outlays. Inventory versus Ordering costs.
  9. 9. Implementing Merchandise Plans Re-Evaluating on a Regular Basis : A merchandising plan should be re-evaluated regularly, The overall procedure, as well as the handling should be monitored. Conclusions during this stage become part of the information gathering stage for future efforts.

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