Merchandise And Assortment Planning Pdf
File Name: merchandise and assortment planning .zip
- SAP Retail assortment planning for retail applications
- Solution Brief for Retail - Merchandise and Assortment Planning.pdf
- Merchandise Planning
Merchandise planning is about striving to make the right product available, at the right time, in the right place, in the right quantities, and at the right price. It has been observed that a retail business has the chances of losing out a deal on their profits due to a reduction in price and loss of sales. To get an idea of the amount of loss you can incur due to markdown and lost sales, in terms of money, have a look at the example given below. And, to have merchandise that is in demand and moves swiftly through the supply chain and order fulfillment process. You have to manage inventory efficiently, observe the sales trends, match them with the forecasted trends and maintain the right amount of products at the right time, for the right time, in front of the right customers, and with the right selling price.
SAP Retail assortment planning for retail applications
Skip to main content. Written by Tommy See. Contact Us. December 07, What is Assortment Planning?
The task of planning product assortments using portfolio optimization is developed and applied to a case in apparel manufacturing and distribution. The planning process begins with the retail buyer, the key individual in the organization that selects merchandise for resale to the consumer. In order to maximize the profit and minimize the risk of the merchandise investment, the retail buyer must simultaneously consider many different factors that impact the merchandise mix decision. A merchandise planning model is developed for the retail buyer based on the concept of stock portfolio theory. The investment returns and risks are considered to determine the product assortment. A retrospective statistical test is conducted to verify the goodness of the product assortment portfolio model.
Solution Brief for Retail - Merchandise and Assortment Planning.pdf
Looking for an assortment software solution that enables you to provide the right products to your customers at the right time and place? Or an assortment optimization service underpinned by our leading software and proven methodology? After booking your free online exploratory consultation, you can expect us to research and evaluate your unique context. Assortment planning is the process of selecting the collection of products which will be on offer in particular areas localisation and during specified periods of time seasonality. It considers the financial objectives and seasonality of the product selection in a way so that both you and your customers gain from the outcome. Assortment planning entails the evaluation of individual product attributes including: Brand, Size, Style, Colour, Function, Price and Stock Keeping Unit SKU performance during selection to address the preferences and needs of your customers. The assortment plan defines the products that make up your categories, sub-categories, segments, and sub-segments.
There is only one way cution processes, it puts you in an ideal real-time performance met- to win it: offer shoppers the kind of position to maximize profits and adapt products they want when they want quickly to changing market conditions. Not only does it holistic approach to your merchandising enable you to create plans based on life cycle — an approach that focuses on preexisting templates, it helps assure the specific demands of your shoppers that those plans are executed as intend- and the positioning of your competitors. The application also helps ensure that This makes it difficult to set strategic your finance and merchandising depart- business objectives that dictate the di- ments, store operations, and trading rection of multichannel merchandising.
The result of an assortment planning process is an assortment plan for seasonal and non-seasonal merchandise. This process includes planning merchandise categories down to the option level style — color — size for fashion merchandise and SKU article for non-fashion merchandise. The planner will determine the number of options to plan and assign these options to a particular assortment.
Staying stagnant is the quickest way to falling behind the competition. There are tons of ways to increase profitability, from in-store events to influencer marketing and everything in between. Assortment planning defined: Assortment planning in retail is when a store optimizes visual merchandising, store layout, and product placement for the most conversions. Product assortment planning happens by period, whether daily, weekly, monthly, quarterly, or some other cadence.
A role-based user can do the following:.