Management information system for the retail menswear industry
It is only comparatively recently that U.K. menswear retailers have begun to implement modern management techniques and information systems. However, those systems that do exist lack any foundation in an understanding of the market processes involved. This paper presents the results of a project into the possibilities for rapid-access computer-based information systems for use in marketing planning and sales forecasting. The systems which are proposed integrate the results of continuous market research and previous sales trends, utilising the diffusion of innovations as the underlying theoretical model. The paper is based on discussions with a substantial number of managers, and an analysis of 200+ sales patterns relating to men's suits. A suite of computer programs has been designed not only to handle the basic "house-keeping" of sales statistics, but also to aggregate these into fashion cycles. It would appear that such statistics are amenable to standard forecasting methods.
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