Assortment optimization, pricing decisions, and promotional activity fall flat if a product is not available for purchase. Out-of-stocks, overstocks, and markdowns drive down already strained profit margins. Replenishment, however, maximizes sales while minimizing inventory expense. By understanding replenishment, and planning and allocation, enterprise can determine the best strategies for addressing forecasting and inventory concerns, and improve profit margins.
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and Planning & Allocation. What is Planning and Allocation (P&A) ? Merchandise Planning is defined as the process of setting and maintaining future performance goals for sales, inventory and other financial metrics and tracking actual results and variances to those goals. Planning decisions are based on historical trends and management insight into expected future changes such as number of stores, calendar shifts, business shifts, and promotional events. Depending on the needs of the company and the sophi