It was my pleasure to be interviewed by Inside Retail on this topic.
What we do know is that Retail is diverse and dynamic in nature.
That’s why is takes a “special kind of crazy” to be in the Retail game (and we do love it!)
A common misconception, however, is that Merchandise Planning is a rigid, one size fits all discipline. Quite to the contrary, when Planning is done right, it understands and embraces the nuances of the underlying business model – even elevating the competitive edge through that point of difference.
Planning affords a framework for more informed decision making, as well as providing enhanced visibility, a measure of objectivity, and a glimpse at what may lie ahead (good, bad or ugly) - which allows for course correction to capitalise or avoid, as required.
This article from Inside Retail – The Art of Buying explores different buying approaches, with consideration given to the role that Planning can (should) play in partnership with a variety of models.
View Article: Inside Retail - The Art of Buying