Cash is king in Retail. Inventory directly affects your cashflow. Getting it right is critical to your survival. The right inventory investment at the right time boosts your cashflow, while the wrong decisions can burn through your cash.
Every retailer must buy products in order to sell products. The art and science of the buy is commonly known as Assortment Planning. This short video series covers the every merchandising team goes through in planning and executing their buy - the Assortment Planning process.
In the unit, you'll learn how to begin the buying and assortment planning process. This is where the strategic Merchandise Financial Plans are translated into a buying framework. The first step in this is the Assortment Strategy, often called the range plan or the skeleton plan.