The model stock plan

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Monograph

Identifikator:: 1820833348

URN:: urn:nbn:de:zbw-retromon-210730

Document type:: Monograph

Author:: Filene, Edward A. http://d-nb.info/gnd/123562244

Title:: The model stock plan

Place of publication:: New York

Publisher:: McGraw-Hill Book Company

Year of publication:: 1930

Scope:: xiv, 253 Seiten

Digitisation:: 2022

Collection:: Economics Books

Usage license:: Get license information via the feedback formular.

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Document type:: Monograph

Structure type:: Chapter

Title:: Chapter X. The more-profit time to buy - the buying calendar

Collection:: Economics Books

142 THE MODEL STOCK PLAN may make a lot of money by foreseeing a probable demand that is not visible to our competitors. In short, the more definitely. we take into consideration all the factors that influence the manufacturer’s busiest season and all the factors that make for his having large or small supplies on hand the better shall we be able to supply our trade at the right prices with profit to ourselves. We must remember that the manufacturer’s busiest season is the time when he makes his.greatest profits. I have always held in our business that we should be able to make the most money when trade is generally declining. This conclusion is based primarily on three facts: 1. We are then willing to work harder, fight bad conditions more, turn our stocks more rapidly, and study more determinedly the scientific principles underlying good merchandising. 2. The supplies of available merchandise at such a time are the largest and can be bought more advantageously. 3. The difference between scientific and rule-of-thumb methods is more important when trade is declining than in a buoyant market and, therefore, scientific operation outruns competition by a greater margin. From all this there develops a fundamental buying rule: Buy, if possible, at the time when the fewest other people want what we wand. We might phrase that in another way: in buying, eliminate all the competition possible; outdo others by harder work, greater zeal, greater knowledge, and closer study of market conditions affecting supply and demand, both as they are now and as they will probably develop in the future. I know of one great manufacturing corporation that always refused any orders beyond its planned output. A great panic occurred. Almost everybody refused to buy. Yet this firm never failed to keep continuously busy. It was managed this way: At the time of the panic its factories were provided with orders for the first part of the period. Cancellations did not affect them seriously because of their well-known, unbroken rule to book and fill every

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