Early on in my career when I started as a planner at Montgomery Ward, signs in all of our offices said:
“Right product, Right store, Right time.
In retail – Nothing else matters.”
— Arron Montgomery Ward
In the late 1800s, Arron Montgomery Ward defined assortment planning. But are the three R’s—Right product, Right store, and Right time—still relevant today?
Customers now have more options than ever. The number of stores has grown, and access to information has transformed the shopping experience. Shoppers can compare prices, read reviews, and seek opinions from friends via social media—all from their smartphones. If you don’t have the product when they’re ready to buy, you lose the sale. Customers will simply go elsewhere, whether in-store or online.
So yes, the three R’s remain crucial today, but they must adapt: Right product, Right store/channel, and Right time. However, an essential fourth element is missing—Right Buy Quantity.
Ensuring You Have the Right Buy Quantity
Retailers must be in stock to support today’s fast-paced shopping journey. The most successful brands focus on demand-driven, omnichannel assortment strategies to ensure they meet customer expectations. Digital transformation has provided retailers with tools to improve assortment depth, breadth, and planning accuracy. But buying the right product means nothing if you don’t buy it in the right quantity.
Do You Have the Right Merchandise?
- Appropriate depth and breadth to match your store/channel format
- The right balance of fashion vs. item planning products
- Alignment with design and trend board strategies
Do You Have the Right Inventory On-Hand Across Channels?
- Merchandise tailored to the target market
- Location-based demand analysis to inform purchase decisions
- Optimal inventory levels to prevent missed sales and avoid excessive markdowns
Does Your Merchandise Floor Set Align with Trend Strategies?
- Optimized initial assortment allocation and minimal replenishment frequency
- Clear visibility into seasonal product availability to plan launch timing
- Timely restocking of key merchandise
The Importance of Buying the Right Quantity
The supply chain remains a major challenge. But even a flawless supply chain won’t help if you didn’t buy the right product in the right quantities for each location.
Stockouts and inventory shortages are among retailers’ worst nightmares. When you don’t have what customers want when they want it, you risk lost sales, lower satisfaction, and declining loyalty. Common causes of stockouts include:
- Inaccurate buy quantities
- Erroneous or inconsistent data
- Outdated technology slowing decision-making
The Need for Advanced Planning Tools
Today’s multi-channel retailers can no longer rely on Excel-based tools for complex assortment planning. Instead, they need advanced solutions that empower teams to make data-driven, multi-dimensional decisions.
daVinci Retail is built to address these challenges. For over two decades, we have helped retailers increase inventory productivity and profits by ensuring they buy the Right Products, in the Right Quantities, for the Right Channels, at the Right Time.
