This is a series of “mini blogs” in the format of PLANNING POSTCARDS.
They are captured here as 3 separate blog posts, with the latest series below.
The previous 2 series can be found in the blog index.
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Series 3 - The “even newer” Series
From July and August 2021, as NSW went through a fresh round of lockdowns:
#17 Always Be Curious
#18 Clarity Creates Confidence
#19 Upstream & Downstream
#20 Dollars & Sense
#21 Risk & Remedy
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Series 2 - The Summer Series
These were released through December 20 and January 2021, almost a full year on from the start of the pandemic.
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Series 1 - The Covid Series
I shared these messages through March and April of 2020, as a way to stay connected, as the Covid-19 pandemic was unfolding across the globe.
PLANNING POSTCARDS - Introduction to the “even newer” Series
💌 You’ve got mail! (again 😃)
Hi Planners,
My Planning Postcards first launched in March 2020 (at the start of COVID-19 lockdown here in Aus).
They weren’t intended to become a “series”, but here we are -
🗓 18 months,
🗂 2 series, and
📬 16 postcards later.
⏳ So much has changed, and yet it can feel like time is standing still.
What hasn’t changed …
❤️ my passion for, and fascination with, Merchandise Planning
💡 my brain is still ticking over with Planning concepts
📡 I want to share both with you
🤔 I hope they resonate with you, challenge your thinking, or inspire you
🤗 I hope they help you stay connected to, and focused on, #MerchandisePlanning
Keep an eye out over the next 2 months, for new Planning Postcards in your feed.
PLANNING POSTCARD No.17 – Always Be Curious
💌 You’ve got mail!
Hi Planners,
My ABC of Planning - ALWAYS BE CURIOUS.
It’s a good “catch all phase” for the style of #MerchandisePlanning I try to foster.
Many valuable traits of a #MerchandisePlanner are obvious
🔍 attention to detail
🧮 strong numeracy
💻 computer literacy
💡 problem solving
🍒 To that I’ll add a big dollop of COMMERCIAL CURIOSITY 🍒
⁉️ Focus on Who, What, When, Where, Why, How,
and “so what” (see “R.E.A.L Reporting” in comments 👇)
🤓 understand the data, “where” it comes from, “what” it’s made up of
🧐 consider “how” you impact the broader business
🤭 “who” do you need to engage with for input, or to inform
🤓 dig deeper to learn “what” influences “what”
🤔 ask “what-if” questions to create scenarios
🤓 factor in the “when” of multiple time dimensions
🧐 ask “why” to dig deeper and determine root cause
👉 Retail is dynamic and so is Merchandise Planning
👉 If you “always be curious” you’ll be equipped for change
👉 And, you'll be much more effective as a Planner #VIP
❓What questions do you find useful?
❓How do you bring commercial curiosity to your day?
Take care
Susan
PLANNING POSTCARD No.18 – Clarity Creates Confidence
💌 You’ve got mail!
Hi Planners,
Merchandise Planning, and all its associated tasks, is informed by numerous factors …
📊 historical analysis and data
📈 future trend direction
🗒 marketing and promotional activity
📅 events - good and bad, planned and unplanned
🗂 customer and competitor activity
📝 resource and logistical constraints
🔐 financial parameters
… the list goes on
To add to the fun -
🤦🏻♀️ the insights from all of the above often don’t align
🤷🏻♀️So how do you know when you’ve arrived at the right decisions?
🙋🏻♀️ Well, it’s not about being “right”, it’s about being confident in the position you’ve formed through the process
💡You achieve that confidence through clarity
☯️ You achieve that clarity through taking a comprehensive approach
[👈 refer previous posts, and 👆list above for what that might involve]
What factors do you consider, to achieve the clarity that gives you confidence in your decisions?
Take care, Susan
PLANNING POSTCARD No.19 – Upstream & Downstream
💌 You’ve got mail!
Hi Planners,
My mental association for Retail is often that of a river.
I think it’s because of the fluidity or movement.
Some run deep and fast, some wide and slow, some are streams, some have rapids.
They all have the perpetual flow.
The metaphor extends well to cover my message on context.
I always encourage Merchandise Planners to understand their environment -
💧 upstream, and
💧 downstream
There are so many cycles flowing through a Retail operation, overlapping, intersecting, starting and ending at different times.
It’s imperative as a #MerchandisePlanner to think beyond the scope of your specific role.
Which functions are upstream from you, and play a role in each process before your involvement?
🌀 Finance?
🌀 Trend?
🌀 Design?
🌀 Marketing?
Which functions are downstream from you, are are impacted by the contributions and decisions you make?
🌀 Buying?
🌀 Production?
🌀 Supply Chain?
🌀 Suppliers?
🌀 Store Operations?
This connectivity is key to achieving a synergised outcome.
Even more so these days when our physical environments see us working separately, remember to go beyond the bounds of your desk (or laptop).
We need to remain aware that it’s all connected in a very dynamic way.
And, if it’s not taking it too far …
🔷 who is in the boat with you most of the time?
Take care, Susan
PLANNING POSTCARD No.20 - Dollars & Sense
Hi Planners,
🤦🏻♀️ Have you ever seen things go really wrong, because someone was being just way too literal?
😥 I’ve encountered it more often than I would like.
It occurs right across junior and senior roles, and yes -
even us #MerchandisePlanners fall into this trap.
😱 How does it happen?
❗️Too much pressure to achieve a predetermined outcome
❗️Too singular a focus on a certain KPI
This can
⚠️ drive the wrong behaviours
⚠️ cause us to skip checkpoints, and
⚠️ miss warning signs
Add to this -
🚫 Lack of experience
❓I don’t know what to look for
🚫 Lack of context
❓I don’t know the full story
🚫 Lack of perspective
❓I didn’t consider the big picture
🚫 Lack of communication
❓I wasn’t clear on the end game
🚫 Lack of consultation
❓I didn’t check my thinking with others
... and things are not looking good.
It’s critical to maintain
✅ commercial thinking
✅ a balanced approach, and
✅ to remain open minded and objective
At the end of the day
💵 we definitely want to make the DOLLARS
💡 but it also has to make SENSE
Have you found yourself in this type of situation?
What were the contributing factors?
Take care, Susan
PLANNING POSTCARD No.21 - Risk & Remedy
💌 You’ve got mail!
Hi Planners,
We are all very familiar with the trade-off that goes with
⚠️ RISK, and
💵 RETURN
Another important relationship in our world is that of
❤️🔥 RISK, and
❤️🩹 REMEDY
It is a natural part of our jobs in #MerchandisePlanning to take risks;
🤪 not crazy risks
🤓 calculated, commercial risks
🤕 The safeguard is identifying the accompanying remedy
For example -
➡️ Based on the successful trial of a new product, colourway, size or fabric, you decide to back this new direction and put volume behind it.
➡️ You plan strong growth, and anticipate the program will continue to perform at this rate for a full season.
➡️ Product is booked, and orders are placed in line with lead times.
❓What is your “get out” plan?
❓What is your remedy if things go wrong?
Things won’t always go to plan.
❗️Maybe a competitor will beat you to market, taking the edge off your planned growth, leaving you with overstocks
❗️Maybe the customer will switch focus, lose interest, and turn purchasing power to something else
❗️Maybe the product will arrive with a flaw in the fabric
You can’t anticipate every scenario, nor should you.
But you can anticipate the possibility of things not going to plan.
✅ Leave a little wriggle room to get out of a tight spot.
✅ Leave a little buffer in your figures for ups and downs.
✅ Consider which levers you could pull if things went wrong, and what the knock on effects could be.
I’m not describing an obsessive, in-depth, onerous activity to accompany every decision you make.
I’m describing a way of thinking and an awareness.
What remedies do you rely on?
Take care, Susan