Chapter 8 Managing a Retailer’s Finances

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Presentation transcript:

Chapter 8 Managing a Retailer’s Finances Nanut Sitthiphong Chun-Lan Yeh

Chapter 8 Overview Merchandise Budget 1. Planned sales 2. Planned BOM and EOM inventories 3. Planned retail reductions 4. Planned purchases at retail and cost 5. Planned gross margin.

Merchandise Budget

Chapter 8 Overview Retail Accounting Statement Inventory Valuation ⊙ Income Statement or Profit and Loss Statement ⊙ Balance Sheet ⊙ Statement of cash flow Inventory Valuation ⊙ Accounting Inventory System - The Cost Method - The Retail Method ⊙ inventory pricing systems - FIFO - LIFO

How to get the right merchandise assortment and sufficient stock to achieve planned sales According to Retail Reporting Calendar Using Forecasting Technology Peclers paris Planalytics Sourcing Simulator

Retail Reporting Calendar

Peclers P a r i s Dominique Peclers established the styling agency in 1970. In 1998, joined the British-American group Fitch Worldwide, specialists in brand and design consulting. Today, international trend forecasting leader. 21 agents throughout the world. Peclers Paris forecasts and deciphers today the fashion moods of tomorrow, imagine the future, and give sense to the product.

Peclers P a r i s Service provided: - Style and product design consultancy - Promotion and communication consultancy - Origination and publication of trend books

Planalytics Weather and climate-sensitive industries, both directly and indirectly, account for about one-third of the Nation’s gross domestic product, or $3.0 Trillion. -Conrad C. Lautenbacher, Jr. Vice Admiral, U. S. Navy (Ret.) Under Secretary for oceans and Atmosphere, United States Dapartment of Commerce. – The benefits for retailers are more effective store-specific merchandise assortments, higher customer satisfaction levels, less safety stock at all levels of the supply chain, increased stock turns, fewer stock-outs, fewer markdowns and increased profitability.

Planalytics Business Forecasting service to help firms planning the merchandise budget by providing forecasting weather-driven changes in supply, demand and prices for products and services. Results : - Risk Management - Improved Control of Cost - Increased Revenue

Sourcing Simulator Developed by researchers at North Carolina State University, working with Textile/Clothing Technology Corp. ([TC]2) and the DAMA Project to facilitate retailers analyzes various "what if" sourcing scenarios.

Sourcing Simulator Benefits: - Analyzes various "what if" sourcing scenarios on methods of supply [quick response (QR) vs. vendor-managed inventory (VMI) vs. fixed delivery times] and amounts of merchandise - Provides financial performance measures for comparison

Sourcing Simulator What can you manipulate in Sourcing Simulator? - the line of apparel: number of stock keeping units (SKUs), wholesale costs, other procurement costs, inventory carrying costs, etc. - the buyer's preseason forecast of demand: total volume, SKU mix, and seasonality pattern. - means of merchandising: retail price, markdown schedule, etc. - sourcing means: type of vendor, initial delivery quantity, number of in-season replenishment orders, lead time until receipt, vendor reliability, etc.

THANK YOU QUESTIONS?

Source http://findarticles.com/p/search?qt=planalytics&tb=art&qf=free http://www.peclersparis.com/index2.html http://reliability.sandia.gov/Software/Sourcing_Simulator/sourcing_simulator.html http://www.planalytics.com/app/corp/start.jsp Retailing, Dunne Lusch, 5th Edition.