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I’d like to introduce myself.
hi, I’m Taylor. I have a B.S. in fashion merchandising, and worked as a retail buyer and merchandiser for leading brands like Levi’s, Old Navy, and Johnston&Murphy.
Handling millions
of dollars worth of inventory.
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hi, I’m Taylor. I have a B.S. in fashion merchandising, and worked as a retail buyer and merchandiser for leading brands like Levi’s, Old Navy, and Johnston&Murphy. Handling millions
of dollars worth of inventory. 1/
I did a LOT. Sales analysis, trend watching, inventory monitoring, allocation, distribution plans, size packs, purchase orders, negotiating with vendors, investment planning, product selection, product styling and placement, pricing, promotions...
The list goes on
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The list goes on
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I see lots of entrepreneurs these days who have a cool product and have some success, but then they don’t know how to grow or evolve their business. 
The merchandising function helps gain a holistic view of your market trends, competition, sales, and inventory metrics.
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The merchandising function helps gain a holistic view of your market trends, competition, sales, and inventory metrics.
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Merchandising also helps you make more informed strategies and decisions for your business.
Notice that a new product you just launched is selling way more units per week than others that you sell?
That’s a clear merchandising lever - i.e. BUY MORE!
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Notice that a new product you just launched is selling way more units per week than others that you sell?
That’s a clear merchandising lever - i.e. BUY MORE!
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(But not too much 
)
This is where your retail math comes in handy.
Say your new product sold 22 units last week, and 55 units this week.
Your avg ROS (rate-of-sale) is 38.5 units.
Now calculate your WOS (weeks of supply).
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)This is where your retail math comes in handy.
Say your new product sold 22 units last week, and 55 units this week.
Your avg ROS (rate-of-sale) is 38.5 units.
Now calculate your WOS (weeks of supply).
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Let’s say your total on-hand inventory is 120 units, divided by your ROS:
120 units
38.5 units per week = 3.1
This would indicate that you have just over 3 weeks of supply remaining, so to avoid a stock-out, you’ll need to get replenishment in just 3 weeks!
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120 units
38.5 units per week = 3.1This would indicate that you have just over 3 weeks of supply remaining, so to avoid a stock-out, you’ll need to get replenishment in just 3 weeks!
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These types of mathematical analyses of the state of your business help you move and modify, adapt to your trends, drive revenue, accelerate unit sales, and increase profitability.
If math isn’t really your thing - don’t worry, you can learn! It just takes practice!
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If math isn’t really your thing - don’t worry, you can learn! It just takes practice!
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If you’d like to read about these and other metrics that business owners can check to stay on top of their business, check out this #guestpost I wrote for @skubana_erp ! Https://skubana.com/blog/inventory-KPIs
Follow for more retail and ecommerce tips!
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