Assortment Planning for the Garment Industry
The selection of merchandise is a critical part of retail management. Assortment planning aims to ensure that an appropriate mix and quantity of retail inventory is stocked to meet customer demand. It involves gathering and evaluating historical data related to customer demand for various categories of goods to reduce inventory out-of-stock and overstock problems. The collaborative efforts of retailers and vendors assists in synchronizing the market orientation process in assortment planning for the garment or apparel industry.