An up and coming Merchandise Manager asked me recently regarding the pros and cons of merchandise purchased on Sale or Return (SOR) versus purchased outright.
The definition of price points varies but it is generally accepted that suggested retail price points are determined in such a way as to compete with prices of the same product or other products.
The department store model in Asia is almost always stores within stores.
Sam Walton opened his first Walmart store on July 2, 1962 and within 5 years he owned 24 stores. The rest is history.
The Open to Buy is a highly effective blunt instrument used by most general merchandise retailers to plan their purchasing and control inventory.
Theoretically margin has to end at about 99.9%. At this point suppliers would be charging you $10 for an item that sells at $10,000.
GMROII is one of those terms that is bandied about a lot, but yet is surprisingly poorly understood.
Relationships between buyers and sellers have existed since humans began trading goods and services.
Inventory management is an art, not a science, and is a serious challenge for even the best retailers in the world.
The short answer is that Business Intelligence Tools are used to extract, analyse and report on data in order to support fact based decision making.
We are all becoming ever more aware of the so called “Data Deluge”. Most retailers and wholesalers are not suffering due to lack of data, but rather from an excess of data.