similar, it ought to be possible by conference, in- 
-Juding not only producers and distributors but also 
sthers who could lend their experience, to readjust 
‘hese conditions with the least injurv to either 
PurcHASING MzeTHODS UNCHANGED 
Mr. Epcar KaurMmany, president of the 
Kaufmann Department Stores, believes that 
he term ‘“‘hand-to-mouth™ buying is a mis 
nomer for the word “turnover” which has 
heen in existence as long as retailing has been 
conducted. 
Mr. Kaufmann states that “with the ex- 
seption of a few years during the war 
period, which should not be used in this dis 
-ussion, our method of purchasing has not 
changed a great deal over the times prior to 
the war. Any organization as highly devel 
oped as ours, if there were a decided change 
‘n the purchase method our inventories would 
reflect this change. They do not. It shows 
that we keep a very even inventory twelve 
months of the year with practically no peaks. 
This would indicate that the so-called *hand- 
romouth’ buying, which manufacturers are 
sbiecting to. is not as serious as it seems.” 
Mr. George H. BusuNELL, vice-presi 
dent of the J. C. Penney Company, which is 
2» nation-wide institution operating six hun- 
dred and seventy-six stores, states: “In pur 
chasing staple merchandise it is our policy to 
anticipate our needs, insofar as it is possible, 
so that the manufacturer may have a bonafide 
order for this merchandise and have it ready 
for distribution at the time wanted.” 
StyLe CHANGES A GREAT FacTOR 
Mr. Bushnell regards the increased stress 
>f the style element as the most important of 
he new conditions in merchandising and be- 
ieves that the intensity and rapidity of style 
“hanges have been a great contributing factor 
n what he terms “conservative buying.” He 
selieves that the buying of such merchandise 
must be accepted as a permanent condition 
and that in so doing it will prove its own cor- 
rective. He thinks, however, that it will be 
necessary for the manufacturer and the re 
tailer to make the adjustment, as the problem 
is a mutual one. He states that the retailer 
at the present time is building a more efficient 
organization by watching turnover, keeping 
stock down to the minimum, and by not car- 
rying such large lines of shelf-worn merchan- 
ise. He adds: “A condition of over-produc- 
-ion, such as exists at present in many of the 
ines we buy, is vastly more expensive than 
ny other process. As this adjustment pro- 
seeds we believe that production will be cut 
to meet the demand by having a better knowl 
>dge of quantities needed through efficiency 
xn records of previous purchases. If the prod- 
act is made to fit the present style—whatever 
it may be—and if greater efficient effort is ex- 
ended on both sides, the merchandising 
sroblem will be many times reduced.” 
Sees No Rapicar Crane in CONDITIONS 
On the other hand, Mr. Georce W. Mit- 
ron, president of the Jordan Marsh Com- 
sany of Boston, does not seem to regard the 
oresent situation as being particularly un 
asual. He says: 
“Speaking as a man who has been in the retail 
susiness for thirty-nine years, I would say that 
he practice of retail buying from manufacturers to 
ny mind is not in the slightest degree different than 
t ever has been during these thirty-nine years, with 
he exception of two periods. One was the so 
:alled Roosevelt boom of 1907, and the other was 
luring the inflation period caused by the great 
World War. Outside of these two periods the re- 
ailer has always bought as far as he possibly could 
‘rom hand-to-mouth, and if he does not he certainly 
:an make no profit. In my opinion, manufacturers 
luring the long period of the war got so in the habit 
>f having their mills sold up and having enormous 
ppeculative orders placed ahead that they forget 
what normal conditions are. It is my belief that re- 
ailers in the future will never buy any differently 
han they are today unless we have another extraor- 
Jinary condition which will cause a speculative 
situation in the commodity market.” 
Mr. Mitton, referring to the hardships of 
‘he manufacturer carrying a big stock of mer- 
~handise on hand, calls attention to the prob 
lems and the hardships of the retailer: “Take 
sur own case for instance—we carry from 
eight to ten million dollars’ worth of merchan 
dise on hand, most of which is subject to 
change in demand, change in style or fashion, 
ind other causes of deterioration. How many