Inventory

1. View and analyze an example of a basic retail inventory performance report: Sample Item Inventory Performance Report
2. Based on your analysis of the unit and sales data in the report, identify at least two items that are under-performing and write a Microsoft Word document. It should be a comprehensive summary (400-500 words) to discuss the following topics:

Discuss at least one (1) merchandising issue that could be affecting the performance of these items (e.g., changes in item locations, poor signage, not following planograms, etc.).

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Thinking back to external factors covered in prior weeks, discuss how environmental factors can affect performance.

Make one (1) recommendation for each of the two under-performing items you identified from the Item Inventory Performance Report.

Expert Answer:

According to the sample Item Inventory Performance Report, there are a few items that are under-performing in terms of units and sales. The first item is a type of shirt that has had a decline in units sold and a decrease in sales compared to the previous year. One potential merchandising issue that could be affecting the performance of this item is a change in its location within the store. If the shirt has been moved to a less visible or less accessible location, it could be impacting its sales. Poor signage could also be an issue, as customers may not be able to easily find the shirt if it is not clearly marked. Additionally, if the store is not following planograms, it could be causing confusion for customers and leading to a decline in sales for the shirt.

Environmental factors can also play a role in the performance of the shirt. For example, if the weather has been particularly hot or cold, it could affect the demand for certain types of clothing. In the case of the shirt, if the weather has been unusually warm, it could decrease the demand for long-sleeved shirts. On the other hand, if the weather has been colder than usual, it could increase the demand for these types of shirts.

One recommendation for improving the performance of this item would be to review the current location of the shirt within the store and consider moving it to a more visible or accessible location. Additionally, ensuring that the shirt is properly signed and that the store is following planograms could also help improve its sales.

The second under-performing item identified in the report is a type of shoe. Like the shirt, this item has also experienced a decline in units sold and a decrease in sales compared to the previous year. One potential merchandising issue that could be affecting the performance of this item is a lack of variety in sizes and styles. If the store is not carrying a wide range of sizes or styles of the shoe, it could be limiting the appeal of the product to customers. Poor signage could also be an issue, as customers may not be able to easily find the shoe if it is not clearly marked.

Environmental factors can also impact the performance of the shoe. For example, if the weather has been particularly dry or wet, it could affect the demand for certain types of footwear. In the case of the shoe, if the weather has been unusually dry, it could decrease the demand for waterproof footwear. On the other hand, if the weather has been wetter than usual, it could increase the demand for waterproof shoes.

One recommendation for improving the performance of this item would be to review the current selection of sizes and styles of the shoe and consider adding more variety to appeal to a wider range of customers. Additionally, ensuring that the shoe is properly signed and that the store is following planograms could also help improve its sales.

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