Plan strategically. For markups. For markdowns. For turns.
Your levers are there, waiting for the right touch.
Is it better to generate a POS markdown or a permanent markdown? How does a 20% off POS markdown become a 25% hit on your margins?
Do you take in-season markdowns, or wait until the end of the season?
How much initial markup do you need to cover your markdowns?
What is a healthy percent of markdowns to take, and remain profitable?
What is a good inventory turn for your business, and for your classifications?
How do you compare to similar businesses?
How does turn impact your flow of goods?
What should your turn be, to cover the assortments you need?
If you turn too fast, will you have enough inventory?
If you turn too slowly, will you have too much cash tied up in stock?
How much average inventory should you carry?
If you have a slow turn, how can you end the year with a lower inventory?