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Paul Miller
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In making a financial plan, senior executives should set company and channel goals on at least a quarterly basis, Goodman said, although “a lot of larger companies conduct a constant review.” Then, review plans by channel and use that as a basis for generating your open-to-buy plan.”
In open-to-buy planning, company level plans must be balanced against channel plans. Channel plans are then balanced against merchandise hierarchy plans. “Make sure they’re tied up to channel plans,” Goodman advised, “by locking them in and bringing them altogether.”
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