If you took all the 8th & Walton classes coming up in Dallas in May, you’d have a complete path to an essential skill: forecasting and replenishment.
We’re offering both beginning and intermediate Retail Link courses, and Retail Link is the key to getting the data you need for Walmart demand forecasting and replenishment.
Then we’re offering SPLY201 – Planning & Forecasting , a full-day course on the essential components of demand planning, including seasonality, assortment planning, forecasting, and working with promotions and events.
Finally, SPLY203 – Replenishment & Inventory Management gives you the know-how to recommend and implement strategies in the area of seasonality, forecasting and inventory management.
At its simplest, forecasting and replenishment are all about making sure that you know how much of your product will be needed in a given store during a given period of time.
If your demand forecast is too low, you won’t have enough stock on hand. Research conducted last year by the Harvest Group indicated that one third of shoppers who find an item out of stock will just buy a competing product. Some may go to another store and make their purchase, but many will do without your product. In most cases, your out of stock results in lost sales.
If your demand forecast is too high, you face markdowns or ending the season with too much product on hand. Either way, you’re looking at loss of profits and potential damage to your relationship with your buyer.
It’s a lot like driving: your goal is not to occupy the same space as another car at the same time. It sounds simple enough, but misjudgement in either direction means disaster.
Disaster is avoidable — with the right knowledge.
Sign up for any or all of the courses being offered in Dallas, or click through the names of the courses above to find when they’ll be offered in your area.