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  1. 1. William Lee Innovation Centre,William Lee Innovation Centre, Textiles & Paper, School of MaterialsTextiles & Paper, School of Materials Buying & Merchandising 2 Dr Neil Towers The TASk Development Partnership is part funded by the European Social Fund under the Equal Community Initiative Programme
  2. 2. William Lee Innovation Centre,William Lee Innovation Centre, Textiles & Paper, School of MaterialsTextiles & Paper, School of Materials Learning Objectives  To understand Fashion Retail Buying and Merchandising  To evaluate a Weekly Sales, Stock and Intake schedule
  3. 3. William Lee Innovation Centre,William Lee Innovation Centre, Textiles & Paper, School of MaterialsTextiles & Paper, School of Materials Definition of a range  Scope  Width of choice  Depth of styles, colours, sizes and price points  Price Points  Architecture  Link to strategy and communication
  4. 4. William Lee Innovation Centre,William Lee Innovation Centre, Textiles & Paper, School of MaterialsTextiles & Paper, School of Materials Fashion changes  Residual stock gives flexibility to respond  Captures new trends  Value Fashion retailers  Higher volumes and greater cash commitment  Slow moving stock management
  5. 5. William Lee Innovation Centre,William Lee Innovation Centre, Textiles & Paper, School of MaterialsTextiles & Paper, School of Materials Internal Planning  Financial planning  Stock model planning  List and De-Listing from range
  6. 6. William Lee Innovation Centre,William Lee Innovation Centre, Textiles & Paper, School of MaterialsTextiles & Paper, School of Materials Range Planning for own label  Collating qualitative and quantitative appraisal  Planning for an own label range  Proposal for future ranges
  7. 7. William Lee Innovation Centre,William Lee Innovation Centre, Textiles & Paper, School of MaterialsTextiles & Paper, School of Materials Buying Branded Fashion merchandise  Smaller quantities  Selection from a catalogue  Influence of season trading  Outlets  Store or Non store
  8. 8. William Lee Innovation Centre,William Lee Innovation Centre, Textiles & Paper, School of MaterialsTextiles & Paper, School of Materials Seasonal contribution  Weighting  Merging grey seasons  Capacity and Response
  9. 9. William Lee Innovation Centre,William Lee Innovation Centre, Textiles & Paper, School of MaterialsTextiles & Paper, School of Materials Support from others  Involve agents or Fashion show promotions  Manufacturers have identified and marketed brand  New Product Introduction supported by manufacturer’s contribution
  10. 10. William Lee Innovation Centre,William Lee Innovation Centre, Textiles & Paper, School of MaterialsTextiles & Paper, School of Materials Intake “A term relating to the amount of stock delivered or planned to be delivered into a fashion business” (Jackson and Shaw, 2001, p189)
  11. 11. William Lee Innovation Centre,William Lee Innovation Centre, Textiles & Paper, School of MaterialsTextiles & Paper, School of Materials Demand profiles  Seasonal sales variations  E.g Fashion women’s wear sales  Ranges from 12% in December to 6% in February  Departmental stores with seasonal sales  Managed by category  Swimwear in Spring and Tee Shirts in Summer
  12. 12. William Lee Innovation Centre,William Lee Innovation Centre, Textiles & Paper, School of MaterialsTextiles & Paper, School of Materials Demand profiles  Typical cross sales ratios  Top garments to bottom garments as 2:1  Women’s wear Lingerie  Menswear Ties to shirts
  13. 13. William Lee Innovation Centre,William Lee Innovation Centre, Textiles & Paper, School of MaterialsTextiles & Paper, School of Materials Commitment “The value of stock (usually at selling price) that has been ordered by the buyer, but not delivered or paid for.” (Jackson and Shaw, 2001, p184)
  14. 14. William Lee Innovation Centre,William Lee Innovation Centre, Textiles & Paper, School of MaterialsTextiles & Paper, School of Materials Time scale commitment  Long term Forecast  Based on comparative analysis; LFL Sales  Monthly Schedule  Respond to emerging trends  Weekly Plan  Committed requirements
  15. 15. William Lee Innovation Centre,William Lee Innovation Centre, Textiles & Paper, School of MaterialsTextiles & Paper, School of Materials Open to Buy  “the amount of buying money available at any one time”  OTB = Opening stock – Closing stock sales (Jackson and Shaw, 2001, p192)
  16. 16. William Lee Innovation Centre,William Lee Innovation Centre, Textiles & Paper, School of MaterialsTextiles & Paper, School of Materials Typical delivery dates  China - Product can be made in all parts of the country and there is an indeterminate time to get to the port. But FOB Chinese port it's 6-8 weeks, route dependant.  Indonesia - 6 weeks.  Morocco - 8-10 days. this depends on how much of the route is by sea, and how much by lorry. The quickest being by sea to Spain then on by land.  Romania - 6 - 8 days.
  17. 17. William Lee Innovation Centre,William Lee Innovation Centre, Textiles & Paper, School of MaterialsTextiles & Paper, School of Materials Weekly Sales, Stock and Intake (WSSI) plan  Sales phased by week  Intake by schedule and forecast  Fixed, Firm and Tentative  Forward Plan for opening and closing stock
  18. 18. William Lee Innovation Centre,William Lee Innovation Centre, Textiles & Paper, School of MaterialsTextiles & Paper, School of Materials Delivery schedule  Use WSSI to plan forward stock  30% - 40% OTB at beginning of the season  Respond to Fashion Phasing within season  Incentives to stimulate demand
  19. 19. William Lee Innovation Centre,William Lee Innovation Centre, Textiles & Paper, School of MaterialsTextiles & Paper, School of Materials WSSI plan exercise  To demonstrate constructing the merchandise plan
  20. 20. William Lee Innovation Centre,William Lee Innovation Centre, Textiles & Paper, School of MaterialsTextiles & Paper, School of Materials OTB and Intake 0 500 1000 1500 2000 2500 3000 1 3 5 7 9 11 13 15 17 Week Number Cum Intake OTB
  21. 21. William Lee Innovation Centre,William Lee Innovation Centre, Textiles & Paper, School of MaterialsTextiles & Paper, School of Materials Learning Objectives  To understand Fashion Retail Buying and Merchandising  To evaluate a Weekly Sales, Stock and Intake schedule

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