Achieve Goals With the Help of Merchandise Management

<h1>Achieve Goals With the Help of Merchandise Management</h1>Author: <a title="jumphigherglobal" href="http://www.articlesbase.com/authors/jumphigherglobal/14792.htm">jumphigherglobal</a> Merchandise management system is a mechanized information system to keep record of the inventory in a store or warehouse. Generally, merchandise can be clustered into product lines. Thus, the merchandise management system shows the exact number of products a business has in stock at any particular time. Merchandising traces its growth to the increase of organized retail in the world. Originally as the retailers managed one or two stores, the function of purchasing the merchandise, costing, etc was much easier. In most of the cases, the retailer himself did it. Though, when retailer begins adding categories and stores, the work load on the buyers raised extensively. Often, buyers have few time or information and they ended up using approximations which is based on volumes to allocate merchandise among stores. This leads to stores exchanging merchandise between them. To overcome this limitation, the function of a planner came in to being; the job of planner is to act as a mediator among the buyers and stores. The de-linking of the functions permitted better interaction among the stores. Planners are able to spend more time to accumulate and study store level data, on other hand buyers are able to devote more time with the vendors. <a href="http://www.etpgroup.com/visitors/products_supply-chain.html">Merchandise management</a> includes all the processes for selling merchandise and procuring encompassing: •	Assortment planning •	Merchandise planning •	Open to buy management •	Sales processing •	Price management and revue optimization •	Inter-store transfer There are some ways to achieve the goals through merchandise management system: •	Higher sales by enhancing inventory availability, achieving by better replenishment, forecasting and monitoring of product performance •	More flourishing promotions by ensuring inventory accessibility all over the promotion, thus developing the promotion’s effectiveness. •	Improved control of buying, and hence inventory levels, via the use of best practice open-to-buy techniques. •	Improved margins via use of zone costing so that prices in individual stores represent the competition and demography of each store. ETP international offers <a href="http://www.etpgroup.com/visitors/products_supply-chain.html">merchandise management</a> tool for superior functionalities for one of the most important functions in the retails and distribution processes – planning. From sales planning, merchandise planning, assortment planning to options planning, the whole functionality of ETP is based on the major concept of multi-level location, merchandise hierarchies, and time, all tightly integrated.About the Author: seo consultantArticle Source: <a href="http://www.articlesbase.com/">ArticlesBase.com</a> - <a href="http://www.articlesbase.com/business-articles/achieve-goals-with-the-help-of-merchandise-management-659158.html" title="Achieve Goals With the Help of Merchandise Management">Achieve Goals With the Help of Merchandise Management</a>

Merchandise management system is a mechanized information system to keep record of the inventory in a store or warehouse. Generally, merchandise can be clustered into product lines. Thus, the merchandise management system shows the exact number of products a business has in stock at any particular time.

Merchandising traces its growth to the increase of organized retail in the world. Originally as the retailers managed one or two stores, the function of purchasing the merchandise, costing, etc was much easier. In most of the cases, the retailer himself did it. Though, when retailer begins adding categories and stores, the work load on the buyers raised extensively. Often, buyers have few time or information and they ended up using approximations which is based on volumes to allocate merchandise among stores. This leads to stores exchanging merchandise between them. To overcome this limitation, the function of a planner came in to being; the job of planner is to act as a mediator among the buyers and stores.

The de-linking of the functions permitted better interaction among the stores. Planners are able to spend more time to accumulate and study store level data, on other hand buyers are able to devote more time with the vendors.

Merchandise management includes all the processes for selling merchandise and procuring encompassing:
• Assortment planning
• Merchandise planning
• Open to buy management
• Sales processing
• Price management and revue optimization
• Inter-store transfer

There are some ways to achieve the goals through merchandise management system:
• Higher sales by enhancing inventory availability, achieving by better replenishment, forecasting and monitoring of product performance
• More flourishing promotions by ensuring inventory accessibility all over the promotion, thus developing the promotion’s effectiveness.
• Improved control of buying, and hence inventory levels, via the use of best practice open-to-buy techniques.
• Improved margins via use of zone costing so that prices in individual stores represent the competition and demography of each store.

ETP international offers merchandise management tool for superior functionalities for one of the most important functions in the retails and distribution processes – planning. From sales planning, merchandise planning, assortment planning to options planning, the whole functionality of ETP is based on the major concept of multi-level location, merchandise hierarchies, and time, all tightly integrated.

seo consultant

Rate this Article:

0 / 5 stars - 0 vote(s)

Re-Publish

Article Source: http://www.articlesbase.com/business-articles/achieve-goals-with-the-help-of-merchandise-management-659158.html

Article Tags: Merchandise Management

Related Articles
Related Q&A

Latest Business Articles
More from jumphigherglobal

What is ratio analysis?

By: Ayaz Haider | 02/01/2010
Ratio analysis is the study of financial statements with respect to calculation and comparison of ratios.

What is Portfolio Analysis?

By: Ayaz Haider | 02/01/2010
Portfolio means a group of investments of various forms under control of an institution or an individual managing privately.

What is feasibility analysis?

By: Ayaz Haider | 02/01/2010
Feasibility is a research process to make financial reports on which business plans are created.

Save time and money by outsourcing investment research

By: Ayaz Haider | 02/01/2010
Investment research has gained significant importance these days. Due to irregular and unexpected fluctuations in market, many investors have loss in bullions.

Emotional investing is your own worst enemy

By: Ayaz Haider | 02/01/2010
Investing can be a thrilling factor for amateurs; to make them feel high. No time is same for any investor; no one can get high and make money at the same time.

MERITS OF OUTSOURCING LIVE CHAT SUPPORT SERVICES:

By: Ayaz Haider | 02/01/2010
Outsourcing Live chat support services are being linked with customer support services which is an active department in an organization. It proposes great remuneration to its consumers; live chat support has made communication easier and faster more than you think. Now, you have nothing to do to contact a support service by phone and or email.

Live chat support service: outsourcing aspects:

By: Ayaz Haider | 02/01/2010
Live chat support service helps numerous web surfers or visitors to communicate with others by using a concept like text messaging on Internet. It is subjected to boost sales and increase customer relationship on an international level.

HOW TO AVOID PITFALLS FOR LIVE CHAT OUTSOURCING:

By: Ayaz Haider | 02/01/2010
Live chat is an option that is being displayed on the website. Live chat outsourcing offers pre-sales exploration and customer support, which is an ideal tool for increasing sales and its maintenance for numerous online businesses. Today, many businesses have touched the peak of success by realising merits of live chat outsourcing and avoiding certain pitfalls.

Give your Home a Contemporary look with Custom-Built Interior Doors

By: jumphigherglobal | 15/05/2009 | Interior Design
The most-commonly used interior doors for residences and garages come in all shapes and sizes. Custom made and designed according to the preference of a user, they come as canopy retractable side hinged and sectional retractable doors. When compared to old garage doors and residential doors they are not only intelligent and long lasting, but also safe and useable.

How can Textile Software help Fashion & Apparel companies?

By: jumphigherglobal | 13/05/2009 | Software
Information Technology is at the core of any company across any industry today, helping retailers, brands & manufacturers ease their flow of operations and refine their functioning. When we talk of the apparel & textile industry, the situation is no different. Textile software is being increasingly used to help producers foster efficiencies of cost and time in their processes.

Get the creative edge with exclusively designed software for fashion designers

By: jumphigherglobal | 13/05/2009 | Software
The world of fashion has not remained untouched by the technologies evolving in the IT industry. With state-of-the-art software applications and CAD suites existing for fashion designers, one can just go ahead and create a sophisticated range of collections to highlight any work in the most professional manner.

Design your own Clothes with Apparel Software

By: jumphigherglobal | 05/05/2009 | Software
With the party organized and games well thought of, one can think about a birthday bash which will be full of fun and frolic. Well, the easy part just got over. Now, it all comes down to the part where you are scratching your head hard and thinking of what the ideal return gift; a gift that will surely turn the birthday anniversary of your loved one into a memorable occasion. It is indeed time to try something new and exciting, which will leave your guests completely stunned.

Companies Leverage high-end benefits from Apparel PLM

By: jumphigherglobal | 05/05/2009 | Small Business
The difference between success and failure can be felt in an environment where rapid decision-making gets affected by complex multi-channel circulation networks, demand to deliver to increasingly time-bound calendars, dynamic consumer demands, and global sourcing.

Real Estate Ajman - Affordable and Dynamic Property Market

By: jumphigherglobal | 10/04/2009 | Small Business
With the population of approximately 1,00,000 and covering an area of only 260 sq km, the emirate of Ajman is in fact the smallest of the seven emirates of the UAE. Though, this small emirates, situated between Sharjah and Dubai is tipped to become one of the next hot spot for property investment, potentially rivaling the incredible growth rates experienced in neighboring Dubai.

Looking For a Right Dubai Real Estate Agent

By: jumphigherglobal | 30/03/2009 | Business Ideas
The luxury lifestyle that Dubai offers is ideal for the perceptive tourist, the city boasts over 30 five-star hotels, and has more hotel rooms than Miami Beach. A wealth of first class restaurants conjures up a world of tastes from around the world.

Make Your Future Bright With Business Administration

By: jumphigherglobal | 18/03/2009 | Education
As the Scope of Business Expands With Drastic Changes and Development in Technology and Global Socioeconomics, There is a Swift Development in the Career Opportunities and Jobs That Require Strong Analytical and Business Skills. Business Administration is a Complete Business Programme Providing Rigorous Training in Management Encompassing Areas Such as Marketing, General Management, Human Resource Management and Finance.