In Enhanced Retail Solutions Retail Primer, CEO James Lewis offers specific education and techniques on how to think like a buyer, improve collaboration and planning to profit. Key topics include:
- Understanding a buyer’s point of view, expectations and openness to vendor involvement.
- Looking for opportunities for growth (statistics, retail assortment, demographics).
- Retail math and measurement definitions and standards. Terminology guide included.
- Fundamentals of planning- forecasting, item planning and tracking of KPI’s.
- Assessing risk on margin guarantees and markdown negotiations.
- How to set up a Vendor Managed Inventory program.
- How to competitive shop and look for white space.
Whether you are a retailer, manufacturer, brand or just interested in how retail math works, the primer is an excellent way to learn. Great as a refresher or reference guide for seasoned buyers or new hires.
James E Lewis, a former JC Penney buyer who has managed and bought key categories in mens, children’s and home textiles throughout his 20 year career, founded Enhanced Retail Solutions in 2002 to help improve the retail business acumen of suppliers.