Is your Inventory Planned ?
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The art of Merchandise Mix and Inventory Hierarchy
The objective of merchandise hierarchy is achieving the following
The Right Product
The Right Place
The Right Quantity
The Right Quality
The Right Price
The Right Mix or Assortment
The Right Time
In order to satisfy every customer’s needs, the retail store must have the right product in right place, in right quantity, with right quality, at the right price, with the right mixes or sizes or variants at the right time. The function of Merchandise Hierarchy is to achieve all these ‘RIGHTS’ so that the sales are high with an ideal level of inventory holding and thus more Profits.
Is your Inventory Planned - To learn more about this author, visit Nilesh Shah's Website.
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