Macy’s Planners maximize sales and gross margin through bottoms up location, financial, and inventory planning. The Planning team operates on our omnichannel SVI (single view of inventory) model and is responsible for the merchandise planning functions across all purchasing channels including Macy’s brick-and-mortar stores and the macys.com website. Planners are highly quantitative, analytical, and systems-oriented.
I start my day by grabbing a bagel at the local deli on my walk to work. I settle into my workspace and turn on my laptop. I really can’t wait to see if my Men’s Tailored Clothing business made plan last month!
The month just ended. I update some of my customized recaps that I built in Excel with the most current data. Then I pull some standardized reporting at both the vendor and product classification level for the total chain. I discuss the financial results with my Omni Financial Planner. We’re excited to see that our formalwear intensification strategy that we built into this season’s plan is continuing to outperform expectations.
The Divisional Merchandise Manager kicks off the meeting with an overview of topline sales performance for the whole division. The Divisional Planning Manager reviews last month’s high performing regions and districts. Next, the Omni Buyers call out performance by product classification and brand. Based on the results, we all agree that we have an opportunity to continue to grow our formalwear business. The Merchandise Planning team mention they can build this intensification strategy into 50 more stores next year.
After the team meeting, I have a quick meeting with my Omni Financial Planner to review our action points. We’re in the process of building pre-season class plans for Men’s Tailored Clothing. He gives me a project to identify the sales growth potential in the 50 additional formalwear intensification doors. I will then need to partner with my Omni Merchandise Planner to review the increased forecast so they can adjust location plans.
I spend the next hour at my desk running some numbers to help me estimate the financial impact of our uptrend. I analyzed what the topline monthly and seasonal impact would be if the trend continues and with the addition of the 50 intensification stores. I adjust my monthly inventory receipt plans to reflect the projected growth in sales.
I meet up with a few of my EDP friends for lunch. It’s a nice day out, so we walk up to Bryant Park and eat outside.
Now, it’s time to get together with my Financial Planning EDPs for a roundtable discussion with the Senior VP of Financial Planning. She wants to check in on our progress and is asking for feedback on our experience so far at Macy’s. I highlight my involvement in the formalwear intensification strategy. We also discuss our transition from college to the Executive Development Program. She’s excited that we are all making friends at Macy’s and enjoying New York City.
All of the Financial Planning EDPs in my class get together to continue learning the Financial Planning System. We were practicing with scenarios where we build pre-season plans for specific vendors and run “what-if” scenarios based on several different merchandise strategies.
The team gets together with our marketing counterparts to review next season’s promotional calendar. Based on company targets, historical performance for my brands, current trends, and any changes to the promotional cadence, I will need to re-evaluate my daily sales expectations for next season. This will get factored into the pre-season financial plan.
At the end of the busy day I get together to work it out with FitFluence, an Employee Resource Group at Macy’s.
I start my day by greeting my team and grabbing a cup of coffee from the kitchen. I settle into my workspace and turn on the laptop. I really can’t wait to see how sales in Polo were yesterday!
This is when I start pulling some key reports and looking at my business ahead of my Divisional Planning Manager’s team meeting. I’ll need to be ready to provide an update on how the latest fashion delivery is performing by selling channel (site and stores), as well as provide an overview of topline sales performance and stock liabilities by product classification and region.
This is our weekly team meeting hosted by my Divisional Planning Manager. We are discussing current business results as well as future sales growth opportunities. Each member of the team has a chance to review a portion of the business and ask questions. We are using this time to collaborate on location plans and MyMacys strategies we might want to implement.
Now that I have prepared my sales reports and vendor analysis, I am reviewing the current season’s performance versus last year and plan by location and channel. This way, I can call out successes and liabilities. I will review my findings with my supervisor which will include a climate analysis before our market appointment at the vendor’s showroom. We’ll want to discuss actions for driving additional sales with the vendor.
The vendor is hosting lunch and presenting the proposed assortment for the following season. We then walk the showroom with the buying team and talk about each new program. We also discuss current business. Next, I will be presenting my analysis in an effort to react to current business and influence assortment decisions for next season’s buy. My climate analysis was very helpful when selecting our assortment for warm doors as well as the website.
Now, it’s time to get together with my EDP project team to work on our Capstone project. It was my responsibility to complete geography and demographic research to incorporate into our project recommendations. I’m excited to share my research with my team.
I am partnering with the Inventory Management team and discussing strategies for next month’s allocations. We are ensuring strong performing locations have enough depth of fashion merchandise and that replenishment parameters are appropriate.
Our assortment planning system is a simple, fast, and flexible tool. It allows buyers and planners to easily manage and execute assortment decisions within a single application. In training, I am learning how to utilize many different functions such as how to build an assortment plan, from adding product, locations, financial targets, and localizing quantities. The assortment plans I build in the system will be used my Inventory Management team to accurately allocate the goods.
With this project I am reviewing my replenishment assortment. Replenishment products are items we consistently carry within our stores. I am reviewing my assortment to ensure all locations are set up with the appropriate replenishment merchandise as designated from the assortment plan. I partner with the Inventory Planning team and discuss strategies and actions for any additions or edits to the replenishment assortment.
I am unwinding at the end of the day with my new Macy’s friends on our intramural softball team. We get together every week and play against other corporate teams from around the city. I’ve met so many people in the city this way!
I start my day by greeting my team and grabbing coffee. I cannot wait to see how Fashion Sheets sales were yesterday! While I drink my coffee, I catch up on industry trends by reading the National Retail Federation SmartBrief emails.
I review inventory levels by location and begin to compile my reports in preparation for my team meeting. I will need to provide an update on how basic replenishment products are performing. Replenishment products are items that we consistently carry within our stores and online. While doing my analysis, I noticed that ivory Micro-Cotton sheets are trending up in both channels (site and store)!
I meet with my supervisor and we discuss current business results as well as strategies we could implement to fuel best-selling styles. We decide to adjust the replenishment parameters on certain styles to ensure upcoming purchase orders reflect the increase in sales.
My team and I meet with our VP. We discuss our allocation strategies for next month’s fashion styles. These fashion styles are part of monthly deliveries reflecting the most current trends and seasonal colors. It’s important for us to allocate them perfectly, because they typically cannot be reordered. We also share best practices regarding our allocation and replenishment systems and discuss opportunities to grow our business/pull back on poor-performing styles.
I review my replenishment forecasts with my Omni Buyer and Financial Planner. I recommend that we pull forward orders to ensure we continue to fuel the ivory Micro-Cotton trend. They agree with my recommendation, so I work on generating a purchase order for both channels.
We have a working lunch with our vendor and discuss stock-out and fulfillment rates by location. I inform them of our decision to pull forward orders, and they confirm they have the stock and will be able to deliver the product. We also discuss turning new colors onto replenishment for the upcoming fall season and making edits to the current assortment.
Before I begin allocating March fashion styles, I meet with the Omni Merchandise Planner to ensure the assortment plans and allocation strategies are in alignment. As I am doing my allocations, I notice that warm doors have been performing particularly well (they are trending up versus last year and turning product quickly), so I increase the depth in several locations within that climate group.
I am learning about a tool that allows us to better analyze our business at the style and location level and maximize our inventory productivity across both channels. My team will be responsible for testing new enhancements to the tool and providing feedback!
I meet with my EDP Capstone project team. We discuss our individual assignments. It was my responsibility to bring a location and size analysis report. We incorporate our findings/recommendations into our PowerPoint presentation.
I head out to meet my EDP friends. We joined the Macy’s Dodgeball Team, and we have a game on the Upper West Side at 7PM. We get together every week and play against corporate teams around the city!