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Need an research paper on fda fashion buying and merchandising (unit : trading the product). Needs to be 10 pages. Please no plagiarism.
Need an research paper on fda fashion buying and merchandising (unit : trading the product). Needs to be 10 pages. Please no plagiarism. They are afterwards expected to decide which attributes of the forecasting process should be stored and which one should not. The accuracy error is always between 0% and 100% (Jackson and Shaw 201). If actual quantity is the same as the forecast then the forecast accuracy is said to be 100%. The error is calculated by subtracting the actual quantity from the forecast.
As for Weeks cover the calculation, was made for EVERY LINE/SKU on the department. The cover depended on: the length of period, type of product, PLC, lead times, and the type of business. In this case they 5 weeks cover, which is considered to be the most appropriate period for fast fashion. The first step involves researching for the sales figures for the 5 weeks (Posner 152). After getting the total sales for the 5 weeks, the group determined the average weekly sales for the 5 weeks. This step should be followed by calculation of the week’s inventory on hand by dividing the total value of inventory by the value that resulted from the calculation of the average weekly sales (Elliott and Rider 123). Therefore, if for example a company has $8000 in the inventory items present, with an average weekly sales of $4000, they will have two weeks of inventory on hand.
Sell through can be very important because of its ability to provide a composite measure of sales and inventory. The most common formula for calculating sell through is: Sell Through % = Units Sold / (Units On-Hand + Units Sold) (Donnellan 156). For fast moving products, sell through is always evaluated on a daily basis while for the slow moving products they evaluation can take place on a weekly basis. The higher the value of a product sell through the batter. This would be an indication that a business’ sales velocity is appropriate and their inventory is well forecasted. In a case where the sell through is low, it can be said that the sales are very poor and there is too much inventory.
