Having developed the assortment plan to appeal to customer
profiles at individual store level, taking into account current
trends, it is then essential to allocate stock accurately first
time. With many fashion retailers refreshing the range every 4-6
weeks, there is little flexibility to redistribute product without
impacting on range transitions and incurring unnecessary
cost.
Integration of the allocation function with the planning process
alleviates spreadsheet nightmares and allows Merchandisers to
update the assortment plans with actual current store data,
comparing it to:
- Current store inventory
- Current store sales
- Current store profile down to style / colour /size
Thereby targeting the assortment to where there is the greatest
demand, reacting faster to changing conditions and enhancing the
customer experience with continuous availability of fresh and
appealing products.
Spot buys, short deliveries or other products outside the
mainstream assortment process can be allocated using a similar
item's allocation as a template or calculated using historical
sales and current stock levels.
A retailer can use this single system for allocating one pool of
stock to all its channels. This may include franchise partners and
stores, or ring-fencing stock for Internet and mail order, where
stock can be allocated to a dummy store or location in the
warehouse for call off.
Contact us to discuss your
specific requirements