I’m honored that Jay Filling has asked to guest post on our blog so he can share with fellow retailers the key to his remarkable performance improvements within a few short years. Thank you Jay for being so open with your story. ~ Tim Smyth. I recently thanked Tim Smyth and his team for hosting […]
Managing Purchase Order Commitments
Especially for retailers of seasonal fashion goods, buying markets are the most exciting, nerve wracking, and exhausting times of the year. They are also the most critical for continued success. Decisions made in a few long days affect the life blood of the merchant. Balancing emotions with strategies in the “buy” is the secret. The […]
Merchandise Planning – Friend or Foe?
Budgets? We don’t need no stinkin’ Budgets! No one likes to hear that dreaded phrase: “Sure it would be great, but it’s not in the budget!” That one expression always seems to bog down progress, innovation, and the entrepreneurial spirit! But, as our friendly controller reminds us, “Without a budget, we can’t make profits; without […]
Effective Inventory Management – The Importance of Planning
The ongoing challenge for every independent specialty retailer is the constant need to increase sales, control expenses and improve profitability. Because of these key business factors it is more important than ever for today’s retailer to effectively manage their largest investment: inventory. Maximizing the return on inventory investment is the key to profitability in retailing. […]
How to Set Up a 4-5-4 Calendar
The 4-5-4 Calendar is ideal for merchandise analysis and planning as it divides the year into comparable periods of time. Rather than incrementing periods based on the Gregorian calendar, the 4-5-4 Calendar divides the year into four and five week periods. Unlike the Gregorian calendar, the 4-5-4 calendar assures that comparable periods always include not […]
