Reg the confusion between Merchandise planning and Demand planning .
๐๐ถ๐ณ๐ณ๐ฒ๐ฟ๐ฒ๐ป๐ฐ๐ฒ ๐ฏ๐ฒ๐๐๐ฒ๐ฒ๐ป ๐ ๐ฒ๐ฟ๐ฐ๐ต๐ฎ๐ป๐ฑ๐ถ๐๐ฒ ๐ฝ๐น๐ฎ๐ป๐ป๐ถ๐ป๐ด ๐ฎ๐ป๐ฑ ๐๐ฒ๐บ๐ฎ๐ป๐ฑ ๐ฃ๐น๐ฎ๐ป๐ป๐ถ๐ป๐ด
โข Merchandise planning and
โข Demand planning
are both ways that store owners make sure they have the right things in their store for people to buy.
But they are a bit different.
๐ ๐ฒ๐ฟ๐ฐ๐ต๐ฎ๐ป๐ฑ๐ถ๐๐ฒ ๐ฝ๐น๐ฎ๐ป๐ป๐ถ๐ป๐ด is like picking out the clothes you want to wear.
Store owners want to make sure they have the right clothes in their store for people to buy. So, they plan ahead by choosing which clothes the store will sell.
Deciding how much to charge for the clothes and making sure they have the right amount of clothes in stock.
๐๐ฒ๐บ๐ฎ๐ป๐ฑ ๐ฝ๐น๐ฎ๐ป๐ป๐ถ๐ป๐ด is like making a shopping list for a store.
Store owners want to make sure they have enough of the things that people want to buy. So, they plan ahead by
โ looking at past sales,
โ talking to customers and
โ studying the market to predict what people will want to buy in the future.
They also decide how much they should order and when they should order it, and make sure they can get the products from the supplier on time.
Merchandise planning is about ๐๐ต๐ฎ๐ ๐๐ผ ๐๐ฒ๐น๐น ๐ฎ๐ป๐ฑ ๐ต๐ผ๐ ๐๐ผ ๐๐ฒ๐น๐น ๐ถ๐, while
Demand planning is about ๐ต๐ผ๐ ๐บ๐๐ฐ๐ต ๐๐ผ ๐ต๐ฎ๐๐ฒ ๐ถ๐ป ๐๐๐ผ๐ฐ๐ธ ๐ฎ๐ป๐ฑ ๐๐ต๐ฒ๐ป ๐๐ผ ๐ต๐ฎ๐๐ฒ ๐ถ๐.