Retail Inventory Planning
Learn how to plan inventory and calculate buying budgets for retailers with this comprehensive course. Perfect for inventory planners, merchandisers, and supply chain managers. Gain valuable insights into inventory management concepts and tools. Excel templates provided. Ideal for those looking to build a career in retail.
What you’ll learn
- An overview of the product/Inventory /Merchandising cycle
- How to plan inventory from an Open to Buy perspective from simplistic to very Advanced
- Various concepts that influence Inventory planning
- How does the various inventory concepts relates to each other whilst planning inventory
- how to use a OTB, SSI, WSSI or MSSI Tool based on different scenarios
This course empowers you to plan and calculate Buying Budgets to acquire inventory that enables a retailer to have sufficient stock/inventory to achieve Sales and not overburden the cash flow at a retail organization . This is a crucial element of Inventory management and supply chain management and financial planning as well.
Question of the hour: How much inventory should a retailer buy and for when to achieve sales target without burdening the business?
We cover two methods to calculate the buying budget or OTB from very simple to advanced
Method 1: OTB Tool that can be used in its simplistic form to build a topline buying budget to achieve a certain sales plan
Method 2: SSI Tool to build advanced buying budgets that spans over a period of time rather than a point in time and factors in certain elements of inventory management that are crucial to getting a proper flow of stock.
As we approach these two methods, we introduce and explain you the various concepts of retail inventory management like merchandising, safety stock, inventory cover, markdown, terminal stock, etc. and their relationships
We will share excel templates of the OTB tool and SSI tool that you can use by yourself to calculate open to buy in your retail organization
Who this course is for:
- This course is for dedicated inventory planners, merchandisers, financial controllers, supply chain managers, category managers and anyone that has a role in managing the inventory for a retailer
- this course is also for candidates that are looking to build their careers in retail organisation to manage stock or inventory
- anyone wanted to understand and learn about how inventory can be planned
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