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class project

working on a final project

Overview

The final project for this course is the creation of a six-month merchandise plan for the women’s dresses department. The final product represents an authentic demonstration of competency because it provides an authentic experience of completing a buying plan. The final deliverable will be the completion of the Six-Month Plan Workbook and a presentation of the summary using the Final Project Presentation Template, and the final product will be submitted in 
Module Seven.

In this assignment, you will demonstrate your mastery of the following course outcomes:

· Apply concepts of retail merchandise planning by analyzing relevant data for informing merchandise decisions

· Explain merchandising strategies for addressing real work issues based on results of data analyses

· Design plans for merchandising that maximizes profit

Prompt

When the buyer for the women’s dresses department started to develop the merchandise plan for the spring season, they reviewed the six-month plan in Figure 35 from your textbook. Use the Six-Month Plan Workbook to complete the calculations for this project.

Buyers begin the planning process well in advance of buying for the next season. The Six-Month Plan Workbook spreadsheet represents the dress department’s spring six-month plan. 
Last year’s results are as follows:

· Net Sales amounted to $4,500 million. (Note that all sales on all reports are in millions of dollars.)

· Cumulative markup percentage was 68.5%, and markdowns for the season were $1,914, representing a journalized markdown percentage of 42.5%, which resulted in a gross margin of 55.1%.

· Turn for the season was 0.96.

The numbers that were achieved represent the department’s performance last year for a fast-selling and up-trending department. The buyer was given the following information to plan for the upcoming spring season:

· Percent increase/decrease average of planned sales: +6.8%

· Planned markdown percentage: 46.1%

· Planned turnover: 0.98

· Cumulative markup percentage: 68.7% 

For next spring, the buyer has to take into account a shift in Easter selling. Last year, Easter occurred on the first Sunday in April. Therefore, pre-Easter sales happened the last two weeks in March. This year, Easter falls on the third week of April. Based on the sales success this department has experienced over the last two years, the buyer is concerned about keeping that trend going.

Specifically, you must address the 
critical elements listed below. Most of the critical elements align with a particular course outcome (shown in brackets).

I.
Analysis: Create an Excel spreadsheet. Acting as the buyer for the activewear department and using the spring season’s six-month plan as a template, create a spreadsheet and formulate the plan, markdown percentages, and beginning-of-month (BOM) stock needed
. You will want to use the table above to help you do the calculations.

a.
Sales Last Year: Calculate each month’s percentage of sales for last year. Note: Your response should be in percentages and rounded to the nearest tenth.

b.
Sales Next Year: Calculate the total planned season sales by month for the next year. Note: You will want to account for the Easter shift.

c.
Planned Markdown Dollars: Calculate the planned markdown dollars and percentage by month.

d.
BOM Stock: Calculate the BOM stock needed by month.

e.
Purchase Dollars: Calculate the purchase dollars in retail (also known as receipt dollars needed to achieve the BOM stock).

II.
Summary: Summarize the six-month plan and add recommendations for enhancing the department’s overall success in the long run. Include the following:

a.
Planned Monthly Sales: Explain the rationale behind the monthly percentages calculated for the planned monthly sales.

b.
Planned Markdown Percentages: Explain the rationale behind the planned markdown percentages by month.

c.
Inventory: Evaluate whether there is sufficient inventory at the beginning of each month to achieve your sales plan, and explain why or why not.

d.
Slowing Down: Explain how the buyer should address their concern regarding sales potentially slowing down. Use data and examples to support your response.

e.
Increase in Sales: Explain how the buyer should address inventory levels with an increase in sales. Use data and examples to support your response.

f.
Gross Margin: Examine the potential effect of a higher markdown percentage on gross margin.

Milestones

Final Submission: 
Merchandise Plan
In 
Module Seven, you will submit your final project. It should be a complete, polished artifact containing 
all of the critical elements of the final product. It should reflect the incorporation of feedback gained throughout the course. 
This submission will be graded with the Final Project Rubric.

What to Submit

The “Analysis” section of your merchandise plan must be submitted as an Excel document, and the “Summary” section must be submitted as a PowerPoint file and written in APA format. The Excel document should provide the equations you used to complete each calculation. The target audience is a business professional audience. Visit the 
Software for Students, Faculty, and Staff page for additional information about PowerPoint access.

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