start:overstock
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start:overstock [2017/01/10 14:26] andre [Overstocked] |
start:overstock [2017/06/27 08:47] (current) andre [To Be Discontinued] |
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| **Key Retail Sites** – Implemented by key retail (Guy)\\ | **Key Retail Sites** – Implemented by key retail (Guy)\\ | ||
| Overstock, Wayfairer, Amazon Lightning Deals (Laura)\\ | Overstock, Wayfairer, Amazon Lightning Deals (Laura)\\ | ||
| - | **Regular Wholesale Accounts + Wholesale Reps** – E-Blast created and sent by Marketing (Bri)\\ | + | **Regular Wholesale Accounts + Wholesale Reps** – E-Blast created and sent by Marketing (Bri) FIXME\\ |
| + | \\ | ||
| <color red>Next 30 Days</color>\\ | <color red>Next 30 Days</color>\\ | ||
| **Off Price Wholesale Accounts** – TJX (Brandon/David), Tuesday Morning (Brandon), Nordstrom Rack (Brandon), Sierra Trading Post (Scott), Ross Stores (Scott), Saks (Scott), Burlington Coat Factory (Chris) , Century 21 (Brandon)\\ | **Off Price Wholesale Accounts** – TJX (Brandon/David), Tuesday Morning (Brandon), Nordstrom Rack (Brandon), Sierra Trading Post (Scott), Ross Stores (Scott), Saks (Scott), Burlington Coat Factory (Chris) , Century 21 (Brandon)\\ | ||
| + | \\ | ||
| <color red>Next 90 Days</color>\\ | <color red>Next 90 Days</color>\\ | ||
| **Promotional Accounts** – Promo Department (all members)\\ | **Promotional Accounts** – Promo Department (all members)\\ | ||
| - | <color red>Final Days (over 200 days with quantities still categorized as Overstock)\\ | + | \\ |
| + | <color red>Final Days</color> //(over 200 days with quantities still categorized as Overstock)//\\ | ||
| Decision by management to consider larger discount | Decision by management to consider larger discount | ||
| =====To Be Discontinued===== | =====To Be Discontinued===== | ||
| This status means the item will not be reordered for general inventory, no backorders will be accepted, and all goods in this status will be immediately put on sale at **40%** off the wholesale price. Offers may be accepted as low as 0% margin (cost) with management approval. Any offers that will create a loss require partner/owner approval.\\ | This status means the item will not be reordered for general inventory, no backorders will be accepted, and all goods in this status will be immediately put on sale at **40%** off the wholesale price. Offers may be accepted as low as 0% margin (cost) with management approval. Any offers that will create a loss require partner/owner approval.\\ | ||
| The designation of items to this status usually occurs annually in June when there will be an overall review of item sales and inventory levels. In general, the inventory planner will be identifying items based on one or more of the following criteria:\\ | The designation of items to this status usually occurs annually in June when there will be an overall review of item sales and inventory levels. In general, the inventory planner will be identifying items based on one or more of the following criteria:\\ | ||
| - | 1. Sales less than $20,000 in the last 12 months\\ | + | - Sales less than $20,000 in the last 12 months |
| - | 2. Inventory turns less than 1.5 per year\\ | + | - Inventory turns less than 1.5 per year |
| - | 3. Return rates greater than 5%\\ | + | - Return rates greater than 5% |
| - | 4. MOQs that result in inventory levels greater than 12 months on hand\\ | + | - MOQs that result in inventory levels greater than 12 months on hand |
| In most cases, items will not be designated with this status until the June following 12 months after the items introduction date. Items designated will not be featured in the following year’s catalog but will remain on the price list and our websites and databases until inventory is reduced to zero.\\ | In most cases, items will not be designated with this status until the June following 12 months after the items introduction date. Items designated will not be featured in the following year’s catalog but will remain on the price list and our websites and databases until inventory is reduced to zero.\\ | ||
| As soon as an item is designated as to be discontinued, the inventory planner will change the status in GP/Sales Pad and add the item (including image) to the specials list located in S/Purchasing/Overstock. The available quantities will be updated weekly by the inventory planner.\\ | As soon as an item is designated as to be discontinued, the inventory planner will change the status in GP/Sales Pad and add the item (including image) to the specials list located in S/Purchasing/Overstock. The available quantities will be updated weekly by the inventory planner.\\ | ||
| Line 39: | Line 42: | ||
| <color red>First 14 Days</color>\\ | <color red>First 14 Days</color>\\ | ||
| **Off Price Wholesale Accounts** – TJX (Brandon/David), Tuesday Morning (Brandon), Nordstrom Rack (Brandon), Sierra Trading Post (Scott), Ross Stores (Scott), Saks (Scott), Burlington Coat Factory (Chris) , Century 21 (Brandon)\\ | **Off Price Wholesale Accounts** – TJX (Brandon/David), Tuesday Morning (Brandon), Nordstrom Rack (Brandon), Sierra Trading Post (Scott), Ross Stores (Scott), Saks (Scott), Burlington Coat Factory (Chris) , Century 21 (Brandon)\\ | ||
| + | \\ | ||
| <color red>Next 14 Days</color>\\ | <color red>Next 14 Days</color>\\ | ||
| - | **Regular Wholesale Accounts** – Urgent e-blast created and sent by Marketing (Bri) Mike M. will set default wholesale pricing in GP/SP to 40% off wholesale for a two week sale period. \\ | + | **Regular Wholesale Accounts** – Urgent e-blast created and sent by Marketing (Bri) FIXME Mike M. will set default wholesale pricing in GP/SP to 40% off wholesale for a two week sale period. \\ |
| + | \\ | ||
| <color red>Next 60 Days</color>\\ | <color red>Next 60 Days</color>\\ | ||
| **Flash Sale Websites** – Implemented by key retail (Guy)\\ | **Flash Sale Websites** – Implemented by key retail (Guy)\\ | ||
| Zulily, Rue La La, Hautelook, Guilt, Joss & Maine\\ | Zulily, Rue La La, Hautelook, Guilt, Joss & Maine\\ | ||
| **Key Retail Sites** – Implemented by key retail (Guy)\\ | **Key Retail Sites** – Implemented by key retail (Guy)\\ | ||
| - | Overstock, Wayfairer, Amazon Lightning Deals (Laura)\\ | + | Overstock, Wayfairer, Amazon Lightning Deals (Laura)\\ |
| + | \\ | ||
| <color red>Final Days</color> (indefinitely)</color>\\ | <color red>Final Days</color> (indefinitely)</color>\\ | ||
| **Promotional Accounts** – Promo Department (all members)\\ | **Promotional Accounts** – Promo Department (all members)\\ | ||
| Line 55: | Line 61: | ||
| During the <color red>first 90 days</color> the maximum discount is **60%**\\ | During the <color red>first 90 days</color> the maximum discount is **60%**\\ | ||
| Off Price Wholesale Accounts – TJX (Brandon/David), Tuesday Morning (Brandon), Nordstrom Rack (Brandon), Sierra Trading Post (Scott), Ross Stores (Scott), Saks (Scott), Burlington Coat Factory (Chris) | Off Price Wholesale Accounts – TJX (Brandon/David), Tuesday Morning (Brandon), Nordstrom Rack (Brandon), Sierra Trading Post (Scott), Ross Stores (Scott), Saks (Scott), Burlington Coat Factory (Chris) | ||
| - | After 120 days of being marked for liquidation, inventory will be offered to close out buyers/liquidators with the goal to “take all” for the following discounts:\\ | + | After 120 days of being marked for liquidation, inventory will be offered to close out buyers/liquidators with the goal to “take all” for the following discounts:\\ |
| + | \\ | ||
| <color red>After 120 days</color> **70%**\\ | <color red>After 120 days</color> **70%**\\ | ||
| <color red>After 210 days</color> **80%**\\ | <color red>After 210 days</color> **80%**\\ | ||
| <color red>After 300 days</color> **90%**\\ | <color red>After 300 days</color> **90%**\\ | ||
| - | These will be negotiated sales that must not exceed a 90% discount from wholesale without partner/owner approval. All liquidated sales will be identified on the monthly margin analysis report.\\ | + | \\ |
| - | This list is updated by the planner weekly to ensure accurate available inventory is communicated to the sales team. | + | These will be __negotiated sales__ that must not exceed a 90% discount from wholesale without partner/owner approval. All liquidated sales will be identified on the monthly margin analysis report.\\ |
| + | This list is updated by the planner __weekly__ to ensure accurate available inventory is communicated to the sales team. | ||
| =====Discontinued===== | =====Discontinued===== | ||
| Once an item that was To Be Discontinued, Phased Out, or Liquidated has an inventory level of zero in all locations, zero on order, and zero allocated, the type (GP card) and status (SP field) will be changed to “Discontinued” discontinued by the inventory planner. A physical inventory must be done to verify all bins are zeroed out prior to the change of status.\\ | Once an item that was To Be Discontinued, Phased Out, or Liquidated has an inventory level of zero in all locations, zero on order, and zero allocated, the type (GP card) and status (SP field) will be changed to “Discontinued” discontinued by the inventory planner. A physical inventory must be done to verify all bins are zeroed out prior to the change of status.\\ | ||
| The inventory planner will notify the Licensing Supervisor when a blank item that has active licensed kits is discontinued. The licensing department will be responsible for updating GP/SP, notifying sales team and customers and making sure all databases are updated. Refer to policy S/Licensing/_Procedures/LICENSING STUFF/Licensing Notes/Licensing Procedure for Discontinuing Licensed Items.\\ | The inventory planner will notify the Licensing Supervisor when a blank item that has active licensed kits is discontinued. The licensing department will be responsible for updating GP/SP, notifying sales team and customers and making sure all databases are updated. Refer to policy S/Licensing/_Procedures/LICENSING STUFF/Licensing Notes/Licensing Procedure for Discontinuing Licensed Items.\\ | ||
| - | ____________________________________________________________________________________\\ | + | ---- |
| The Specials list is available to Sales Managers and Marketing Coordinator to use for mailings, e-blasts, and various flash sales and specials. The internal sales/service teams in the Wholesale and Promotional Depts. also have access to this list and have commission agreements in place as an added incentive to sell these items quickly. It is saved in S/Purchasing Supply Chain/Overstock/Picnic Time Special 2017 with Images (and Picnic Time Overstock Specials 2017 with Images).\\ | The Specials list is available to Sales Managers and Marketing Coordinator to use for mailings, e-blasts, and various flash sales and specials. The internal sales/service teams in the Wholesale and Promotional Depts. also have access to this list and have commission agreements in place as an added incentive to sell these items quickly. It is saved in S/Purchasing Supply Chain/Overstock/Picnic Time Special 2017 with Images (and Picnic Time Overstock Specials 2017 with Images).\\ | ||
| This policy will reside in the Picnic Time Knowledge base and be updated by GM (Kevin). The Word document will be saved in S/Reference/Office Procedures and Instructions/Inventory Management Procedures for Overstocked and Obsolete Inventory. | This policy will reside in the Picnic Time Knowledge base and be updated by GM (Kevin). The Word document will be saved in S/Reference/Office Procedures and Instructions/Inventory Management Procedures for Overstocked and Obsolete Inventory. | ||
start/overstock.1484087201.txt.gz · Last modified: 2017/01/10 14:26 by andre
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