Question.2578 - Summary: Use last year's figures and prompts given on the Instruction Slides to complete the dollar plan (LY) for an Accessory Department and Develop a future Fall season ($) plan. Utilize learning from Chapter 5 and your planning skills to create a plan as a buyer of the accessories department. Describe your decision criteria for planning sales, markdowns, and inventory levels using question prompts given in the case study. Instruction Slides: Dollar Plan Project Case_Fall2022.pptx (https://canvas.cpp.edu/courses/53384/files/5450793?wrap=1) Blank Dollar Plan Spreadsheet: Blank Format.xlsx (https://canvas.cpp.edu/courses/53384/files/5450794?wrap=1) (https://canvas.cpp.edu/courses/53384/files/5450794/download?download_frd=1) Due Dates: Submit Optional Draft: Nov 29; Final Submission: Dec 2 Submission instructions: **Read the chapter (5) carefully and practice all problems before attempting the case study. 1. Case Study Questions and Spreadsheet will go hand-in-hand. You will work on both simultaneously. 2. Submit 1 Excel spreadsheet with financial plan and 1 word document with answers to case study questions. Number each question and response as given in the case study 3. Case Study Questions should be submitted on a well-formatted word document [25 pts]: Explain your responses to the case study questions in detail. Write full sentences and explain your responses. Do not use bullets to answer the questions. The written part should not have any grammatical errors; it should be typed (Times New Roman, 12 font, 1.5 line spacing ) and should have page numbers. Word Document should look like a report you would submit to DMM. It is a part of your written communication and presentation skills. 4. Dollar plan excel with embedded formulas is worth [15 points]. (https://canvas.cpp.edu/courses/53384/modules/items/2413949) Submit Assignment (https://canvas.cpp.edu/courses/5 11/30/22, 11:16 AM Dollar Plan Case Study https://canvas.cpp.edu/courses/53384/assignments/554578 2/2 Your Excel sheet should be well formatted and demonstrate your learning in the Excel course. All formulas should be correct Purchases (Receipts) should never be negative. You will get a negative number for last year’s December. That is the actual number from last year...so it is ok. For the Planning period, work with BOM, Sales and MD figure to ensure that receipts are not projected to be negative
Answer Below:
Point1. The data given for last year can be used as base data to forecast the planned year data as we add requisite % increase or decrease to the last year sales. A figure of 10% is used as base and it has been used for calculating the same since from the given data it can be observed there is increase in all the departments except belts department. They are in increasing trend and as this is a fall season, prudent techniques have been used by ensuring that higher forecasting is not used (Collier, 2015). Point 2 We must forecast accurate sales as the whole cycle depends on the sales only like how much to produce and stock holding period and all these are depending on the sales only. This will be part of the process in assessment of the stock holding period would be properly engaged. Point 3 The key elements are connected with identification of the the reasons for the non-moving items. It looks at the process in which checking and working in latest trends would be used for enhancing the work scope. Providing discounts and offers to shoes and belts to increase demand for sales would be crucial (Collier, 2015). Point 4 BOM can be calculated using Basic stock, Average stock and SSR ratio Basic stock has been used as the same is most reliable. Point 5 Case Study 3 I have used 6.5% as there is growth in remaining except shoes. So there is a dip only in one department as an overall there is a dip so 6.5% is ideal. As marked down estimates are decreased it makes over all target will decrease. Point 6 As the analysis says all the departments are increase except shoes and belts, so there is positive side on moving higher target. Increasing Demand forecast accuracy is essential. Use up excess inventory by are disturbing it and creating issues. Use automation to improve in better manner is essential. Case Study 4 References Collier, P. M. (2015). Accounting for managers: Interpreting accounting information for decision making. John Wiley & Sons.More Articles From Finance
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