|Saratoga National GC|
Planned sales + Planned Markdowns + Planned End of Month Inventory – Planned Beginning of Month Inventory = Open to Buy at Retail
Being under bought will create missed sales opportunities but can only be properly avoided if the Planned part of the above formula is based on solid principles and an analysis and understanding of the shop’s sale history, space and fixturing.
Another concept that is tossed around in the industry but rarely understood and properly utilized is that of count-and-fill. The phrase immediately brings to mind the maintenance of the proverbial solid shirt program but redefining and instituting its new meaning across all pertinent categories can lower inventories and insure against loss of sales more effectively than open-to-buy reports.
|Mendham Golf and Tennis Club|