The Weekly Buying Plan is the central piece of The Edge’s “Just-In-Time” inventory purchasing philosophy. Gone are the days of forecast buying once or twice a year to stock your store – “Just-In-Time” is a proactive approach that builds this week’s buying plan based on last week’s sales and historical performance.
By ordering small quantities more frequently you can:
- Stay on top of changing trends
- Have a consistent flow of new merchandise for customers to view
- Shape and optimize your inventory to fit your needs
- Reduce the accumulation of aged inventory
The Weekly Buying Plan consists of 3 steps:
- Reorder Fast Sellers
Identify and immediately order fast sellers and, optionally, styles below designated stock levels.
- Replenish Base Stock
Review interim sellers, e.g. styles that sold outside of fast seller threshold but prior to becoming old.
- Recovered Funds Redeployment Guide
Review funds recovered through sale of old inventory for potential reinvestment elsewhere.
NOTE: This feature is designed to work in concert with the Aged Inventory Management System (AIMS) to implement a proactive, systematic approach to prevent the accumulation of old inventory.