What I Do As President of A Fashion Collection - Part 5

My next step is to place orders with my production department on the styles my accounts like. Hopefully I will have all my accounts orders in when I am ready to place. But that is usually not the case. Many times I have to project additional inventory that is unsold so that I have merchandise for when the stores place their orders. If I do not anticipate I will not have the deliveries the accounts need. I also want to have inventory for in season reorders. A reorder is when an account is doing well with a style so they buy more. This is of course what you would want to see happen. Managing inventory is a bit of an art and a bit of a science. You want to have enough so that you take advantage of all business opportunities but yet not too much so that you have to sell it at a very discounted price. This is also a big part of my job in that here is where you can make your profit or loose your shirt.