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With appreciation to contributor, Ritchie Sayner, a Management One™ affiliate.

 
The trade show and buying season is now in full gear. As you are analyzing last season’s and last year’s performance, think about the concept of managing the bottom 30. Not only as a review effort, but also as a go-forward strategy. This is an idea that Management One™ affiliate, Ritchie Sayner, advocates.
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The importance of the scorecard is to understand its metrics by class, by vendor. Not every vendor is strong in every classification. Overall performance may be misleading. A vendor may be strong in one category and not another, so the sum may be different than the parts. This is good knowledge to have when you buy.
Metrics should include:
 
- Sales
- Purchases
- GMROI and CMROI for Management One clients
- Sell through
- Markdowns
- Margins
- And ending inventory
 
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Your first impulse may be to drop the vendor, and that might be the best decision.
 
But, only decide after you consider the whys of poor performance.

Was the delivery on time?
Was the quality right?
Were the colors correct?
Was there an issue with the fit?
Should I only buy this vendor in specific classes…and will that work?
Then, it is also important to get feedback from your sales team.

 
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You can either negotiate better going forward, or use some of those dollars that went to the bottom 30% and test other categories and vendors.
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Here is some advice from Management One affiliate, Ritchie Sayner:
 
“Every week, vendors receive a sales report of selling activity. If performance is not acceptable within a 30-day window, you request that action be taken by the vendor. Actions can include marketing money, clinics and incentives for sales associates, markdown allowances or, in some cases, a total return of the product for full credit, including freight. Remember that these vendors are not contributing to your profitable growth.”

Ritchie goes on to state, “This process helps the store to narrow the resource structure. For example, Vendor A is responsible for $100,000 in sales and Vendor B generates only $5,000 in annual revenue. It might be decided to discontinue Vendor B, if more volume cannot be generated from Vendor B, even if that vendor is profitable. The additional dollars might be better served with Vendor A or another strong contributor.”


 
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Buying responsibilities continue long after the initial buy. Paying attention to the bottom 30% will liberate a lot of your cash flow.

 
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ONWARDS & UPWARDS

Marc Weiss
CEO and President
Management One™
And Retail ORBIT®
 
CHARTING PROFITABLE TRENDS
December 2017 through December 2018 sales

The graph below represents monthly sales increases, year to date, based on our clients who have comparable data from last year’s sales as Management One clients.
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January 20-22, 2019 NY MEN’S
Coming up! Have you registered yet?
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Jacob Javits Center NYC
Expect to be wowed! NY MEN’S, held in NYC every January and July, offers an intimate buying experience for the contemporary market.

PROJECT is the preeminent fashion event exhibiting advanced contemporary, premium denim and designer collections. Experience the launch of N:OW at Project - an immersive experience hosted by culturally relevant brands that drive street fashion forward, while remaining commercially viable. N:OW features forums curated by WGSN, entertainment, food/beverage, daily happenings, brand installations and exclusive events.

MRKET is the only show in the U.S. to spotlight such a diverse and large grouping of international sections, such as Made in Italy and Brits in New York, highlighting a mix of refined tailored, sportswear and accessories collections.

 
EVENT UPDATE!
Exclusively for Management One clients!
Join us and UBM Fashion/Informa for a
COCKTAIL PARTY
Sunday, January 20, 2019
4:30 - 6:00 PM
Jacob Javits Center - Room 2010

 
Make connections and enjoy a discussion on “Finding the intersection between Elevated Streetwear and Advanced Contemporary”.

Meet and learn with Lizette Chin, President of Menswear, and Drew Hecht, Retail Relations, for Men’s UBM Fashion/Informa.

Always enlightening, Marc Weiss, CEO and President of Management One, will give us insights into “3 Trends Reshaping Retail.”
REGISTER NOW for NY MEN’S
BRAND MATCHMAKING SERVICE
Connect with Drew Hecht to discover new brands, set vendor appointments and get any other assistance needed for the
NY Men’s Market.
drew.hecht@ubm.com

To learn more about NY MEN’s, and other upcoming UBM Fashion Events
 click here:
https://www.management-one.com/exclusive-tradeshow-access/


MAGIC Las Vegas February 5-7, 2019
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THE place to see the latest in fashion.
THE place to meet, mingle and be inspired.
THE place to enjoy SPECIAL perks from Management One
and UBM Fashion/Informa.

It’s EXCITING. It’s NOT-TO-BE-MISSED! It’s MAGIC LAS VEGAS!


Find the brands and see the trends. Experience new vendors and new lines. It’s all here for you.
REGISTER NOW FOR MAGIC
Join Management One and UBM Fashion/Informa at our
EXCLUSIVE COCKTAIL PARTY
Tuesday, February 5, 2019
5:30 PM
Mandalay Bay, Islander D room in Las Vegas, Nevada
As a Management One client, enjoy special perks like this! Share conversations and ideas during our Cocktail Party. You’ll hear topics of interest during a timely discussion led by Management One President, Marc Weiss. Reconnect, recharge and reach out!
RSVP HERE FOR COCKTAIL PARTY


EXPERIENCE RETAIL SEMINARS
with these
ENGAGING EXPERTS
Paul Erickson, Dan Jablons and Dan Holman

“AVOIDING THE MARKDOWN SPIRAL”
Retailers continue to cut prices to drive traffic into stores. But independent retailers can’t compete on discounts forever, meaning merchants must get creative to survive and thrive. In this seminar with Paul Erickson, recognized for his talents as a retail educator, you will learn specific techniques to increase sales and influence customers without regularly resorting to the markdown drug.
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Tuesday, February 5 at 11:00 AM - Las Vegas Convention Center
Wednesday, February 6 at 1:00 PM - Mandalay Bay
Convention Center

“THE BEST BUYERS DO THESE 5 THINGS”
Buying for retail is not easy. There is a lot to analyze, a lot to watch, and a lot to do! In this informative seminar, delivered with his entertaining style, Dan Jablons, of Retail Smart Guys, will reveal what the best buyers in the industry do to improve sales, create more cash, grab market share, and increase profitability.
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Tuesday February 5:
1:00 pm - Las Vegas Convention Center
3:00 pm - Mandalay Bay Convention Center

“12 STEPS TO RETAIL WEALTH”
What other stores are doing to take
their businesses to the next level
Award-winning Retail Coach, Dan Holman, will guide you through the 12 key steps you’ll need to climb to take your store and your business to the next level. Learn step-by-step how to create a customer driven culture, identify with your target market, merchandise your stores to SELL and create the necessary cash flow to maneuver in today’s modern retail world.
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Tuesday, February 5 at 1:00 pm - Mandalay Bay Convention Center
Wednesday, February 6 at 9:00 am - Las Vegas Convention Center


COTERIE
February 25-27, 2019
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Jacob Javits Center NYC
Join Management One and UBM Fashion/Informa at an
EXCLUSIVE WELCOME BREAKFAST
For Management One clients
MONDAY, FEBRUARY 25, 2019
8:00 AM

Jacob Javits Center
Hear Management One President, Marc Weiss, share insights with his topic “Looking Beyond the Next Season”. He will prompt you to start thinking “Where do you want to be in 3 years?” and “What do you need to do to get there?”

Enjoy a preview of the show and highlights of the brands and categories to look for, from Danielle Licata, President of Women’s Fashion East Coast, UBM Fashion/Informa. She’ll help you make the most of your Coterie experience.
REGISTER NOW FOR COTERIE
 
Want more one-on-one help at MAGIC or COTERIE?

Take Advantage of UBM CONCIERGE SERVICES
You’ll have help finding what you are looking for and getting answers to your questions. Maximizing your show experience is what it’s all about.

ON YOUR RSVP FORM for MAGIC and COTERIE
just click on the button to contact a UBM Retail Concierge
 
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OUR NEWSLETTERS...RIGHT TO YOUR INBOX
It’s easy to sign up and get insights and inspiration from Management One and Retail Orbit CEO, Marc Weiss, every month. Know someone else who would be interested? Feel free to share this link!
CLICK HERE TO SIGN UP
 
IN RETAIL, THERE IS ALWAYS A NEXT LEVEL
Management One™ is the leading provider of inventory and merchandise planning to specialty retailers around the world, through highly trained Retail Experts. Our positive culture and intense attention to our products and our customers make us the premier choice for merchandise planning.
JANUARY 2019 © MANAGEMENT ONE™
Management One

2100 E. Speedway #41565

Tucson, AZ 85717

(888) 921-6663

http://www.management-one.com/
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