Merchandise planning is a technique for choosing, managing, buying, stocking, and pricing the products in a way that maximizes returns on investment, adds value to the brand name by meeting consumer needs, and prevents the production of excess inventory.
Additionally, merchandise planning aims to provide the right product in the right quantity, at the right price, in the right location, and at the right time. You can also make use of appropriate inventory software to streamline your merchandise and inventory operations.