TREK #2

SEASONALITY MASTER

GOAL: 

Push beyond your fears and go boldly for seasonal profiling results

OUR APPROACH:  MEASURE  
Let's do this together.  If you can create profiles and immediately measure and see their success and gaps, you will have the
tools and confidence to refine and continue   

 

Typically the last area that even seasoned inventory pros believe that they master. 

Let's take it in steps, together

WHY?

#1 "We don't have seasonality"
Really??   Let's keep an open mind!

COMMON

PITFALLS

PREPARE FOR SUCCESS:

1 UNDERSTAND THE GOAL  
New item excellence is as much about collaboration as your components

2 COMPONENTS NEEDED  
The guidance below is designed to help you to the best start possible

3 ONGOING COLLABORATION  
Keep your partners in the loop and feeling ownership of new item success

1 DEMAND FORECAST:

 

Let’s face it, when we get a new item from our merchandising team, we feel the urge to cut the estimated forecast by about 50% (and then often that’s too high!).  Having said that, whatever number we eventually land on, we need to set it, document it, and watch it closely. 

 

The initial sales are typically higher than normal, so a strategy of freezing the item until all of the initial pipeline fill occurs will keep the forecast in place.  Remember these items won’t fall into an exception category when they are frozen (which is a good strategy), so a Watch Code, System Class Report, or unique grouping with an open group code are all good tactics to use

MR FRIENDLY'S COMPONENT GUIDANCE

fRANK vAN vLECK

NOW MEASURE & REACT

DAILY P-T-D WARNINGS  
A quick daily view
Click to view Live Sample Chart

PERIOND END DASHBOARDS
Comprehensive analysis
Click to view Live Sample Dashboard

NEW PIVOT EXCEPTIONS  
From 30K feet, zoom to your needs
Click to view Live Sample Pivot

New Items Are..

5%

Of Total Items

Making Up..

8%

Of Total Inventory $

Driving..

3%

Of Sales Revenue $

And Achieving..

89%

Service Attained

WHAT ARE YOUR NUMBERS TELLING YOU?

ADDITIONAL STEPS FOR EXCELLENCE

Overstock Watch
Overstock has to be monitored much more closely on New items.   Catch it before it catches you.
Incorporate overstock analysis into your period-end program.  Introduce the format to your supplier and merchandising partners so that they work with you to avoid those costs.
CLICK FOR SAMPLE CHART
Overstock has to be monitored much more closely on New items.   Catch it before it catches you.
Incorporate overstock analysis into your period-end program.  Introduce the format to your supplier and merchandising partners so that they work with you to avoid those costs.
New Item Warnings
Keep Colaborating
Overstock has to be monitored much more closely on New items.   Catch it before it catches you.
Incorporate overstock analysis into your period-end program.  Introduce the format to your supplier and merchandising partners so that they work with you to avoid those costs.

TIPS FROM THE COMMUNITY

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