Buyers Intelligence Group, LLC (BIG) announced today a new product to transform merchandise planning and buying at trade shows just in time for the Las Vegas shows.
BIG is excited to introduce the newest addition to their cloud-based platform for jewelry retailers: MAPS. MAPS (Merchandise Analysis and Planning System™) finally answers the question, “WHAT DO I NEED TO BUY?” Unlike other systems, which use ambiguous or generic factors to tell you what to buy, MAPS is driven by each client’s budget and goals, specific to their store.
MAPS works in conjunction with real-time data from Balance to Buy™ and retailer defined turn, Gross Profit and inventory goals to create instant buying plans. These plans can be created for vendors, categories, or any combination. It allows users to create plans and budgets that buyers can quickly print and take to vendor appointments.
To ensure this product was filling a practical need, BIG collaborated closely with industry insider and BIG staff member Denise Sober. As the Buyer and Accountant at Occasions Fine Jewelers, Denise was an integral part of the creation of the MAPS program. “MAPS is based off a set of spreadsheets that I have personally used for Occasions over the last two years that Abe Sherman, my brother Mike Fleck and I worked on together. It allowed us to increase our sales significantly while reducing our inventory by $1,000,000,” Sober said.
Sober continued, “MAPS uses real-time data from Balance to Buy™ along with the turn goal, gross profit, and/or inventory goals you set to print out exactly what you need to purchase. I implemented and used MAPS this January and my preparation time to go to the buying shows was cut from 2 weeks to 48 hours. And the best part was that just prior to leaving for the show, I was able to update all my plans to reflect current inventory levels and sales!”
MAPS is a game changer for individuals budgeting and planning for retail stores. It is offered as a stand-alone product for retailers that are not currently Balance to Buy™ clients.
Find Buyers Intelligence Group at Luxury and JCK Show Booth L-109.
To learn more about BIG and MAPS contact the group at [email protected].
