Fashion retailing, where and how to purchase

  For any fashion retailer, optimal merchandising is a means to rationalizing of its management. It is important how many different products (width) to purchase and to have the assortment (depth) of those products. In addition, for product support, it is also important to sustain optimal inventory.   Among them, it is very important to maintain an adequate level of inventory in fashion retail management. If a retail shop has insufficient inventory and stock quantities, it cannot immediately satisfy the needs of customers. Then, the retailer’s business image may be damaged, and some of customers may soon be lost.   On the other hand, if there is too much inventory of a product in the retail stop and the product does not sell well, the burden of inventory costs increases. Of course, when the demand for the products stocked in the shop increases and the retail price rises, then the inventory itself becomes a voluntary investment. However, as the sales volume of a product dec...

As the headlines of big news from the world’s leading media, Lee Kun-hee, Samsung Chairman who transformed the small television maker into a global giant of consumer electronics, left us at the age of 78.   According to “Samsung Electronics and the Struggle for Leadership of the Electronics Industry,” a 2010 book on the company by Tony Michell, the Gumi factory’s 2,000 workers gathered in a courtyard and were made to wear headbands labeled “Quality First.” Mr. Lee and his board of directors sat under a banner that read “Quality Is My Pride.” + The New York Times continued to introduce the realistic report in this book. “Together they watched as $50 million worth of phones, fax machines and other inventory was smashed to bits and set ablaze. The employees wept.” In the next 10 years, the company has been reborn as a world-class company. It is true that it was due to the management strategy of ‘Quality First’ that Chairman Lee pursued. Many merchants in Dongdaemun market have also be...