The model stock plan

Bibliographic data

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.

Chapter

Document type:: Monograph

Structure type:: Chapter

Title:: Chapter XI. An entire stock of bargains

Collection:: Economics Books

156 THE MODEL STOCK PLAN and strengthen our knowledge of resources by laying out side by side the merchandise in stock of competing resources. This is the scientific way to plan, without undue external pressure or influence. Also, we should get the advice of salespeople, assistants, and heads of. stock, and thus make them realize more fully their responsibility for selling the goods so bought. If the department head actually consults his salespeople in advance about buying a certain article, and they approve it, they will sell it with more enthusiasm than if it is simply placed before them as something decreed by a higher power. To return now to the earliest purchases of the season, the buyer checks up on his early purchases partly by the way that they impress customers and partly by comparison with what other stores are offering. These comparisons he should make not only in the stores of his home-town competitors but also in the metropolitan stores of his central market, whether it is in New York or Chicago or San Francisco. He must do this to make sure that what he has bought is not only good style but also good value. Up to this point, the process is very much a guess. Some- times the buyer’s guess is right, sometimes it is wrong. Those of us familiar with the actual figures of retail mark- downs on style goods know how much difference jt makes in profits when the guess is wrong. Even staples—this cannot be too clearly emphasized—are too often bought solely by rule of thumb. Not only buyers but also managers are at fault in this. The big problem is to foresee general business and financial conditions. A buyer should, then, approach the buying for his first showing in profound humility, acknowledging to himself that he does not know with any certainty what his customers are going to want two or three months hence. It is impossi- ble to overemphasize this need for humility in all buying, even with the best assistance of scientific methods. A buyer who says frankly at all times and lives up to his admission, ““the customer decides, not 1,” has found the best basis for merchandising; he has found the way to greater total profits.

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