An Introduction to the theory of statistics

An Introduction to the theory of statistics

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Monograph

Identifikator:: 1751730271

URN:: urn:nbn:de:zbw-retromon-127610

Document type:: Monograph

Author:: Yule, George Udny http://d-nb.info/gnd/12910504X

Title:: An Introduction to the theory of statistics

Edition:: 8. ed. rev

Place of publication:: London

Publisher:: Griffin

Year of publication:: 1927

Scope:: XV, 422 S; Ill., Diagr

Digitisation:: 2021

Collection:: Economics Books

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WHAT IS A MODEL STOCK? 51 2. Soon the BB itself will become profitable—the manu- facturer’s price on it will generally come down within a period short enough to make it profitable, if orders can be placed in large quantities at about the time the manufac- turer’s rush business is over. One other point is to be borne in mind, that increased sales under proper management and control largely cut down the percentage of indirect expense, which is often one-third or one-half of the total expense. It is unwise to depend on the plan of using a smaller rate of mark-up at the beginning of the season, however, until we have employed every method to get a BB that pays a fair profit at the start. This should be possible, eight times out of ten, provided the Model Stock Plan and BB’s are integral parts of the business. In many or most stocks the selection of a BB, shopping to make sure it is right, and then correcting the rest of the line by comparison with it, is a business-like, reasonable, and scientific method of making sure that the selling possibilities of our lines are better than those of our competitors. I believe, also, that any stock will be better if the first purchase in it is a BB. If that is impossible or impracticable—as at times it may be—then no large purchases or reorders should be made without determining the salability of that merchandise in relation to the BB standard and after having satisfied our minds as to the coming style. Let us remind ourselves once more that we shall be obliged to meet all the difficulties of competition anyhow, whether we have the Model Stock Plan or not. But we shall meet them much more effectively with it. With the Model Stock Plan established throughout our business we shall have such good values in all of our departments and throughout our lines that we shall establish a reputation for extra values and, therefore, a drawing power that cannot be established equally well by any competitor who only spasmodically meets our 1 For a further discussion of the importance of style under the Mode Stock Plan see p. III.

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