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hey y'all it's jenna here
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welcome back to my channel um i hope you
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found the last
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video super helpful on item setup if it
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is
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um please click subscribe so you can
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make sure to see my upcoming videos
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and be sure to hit that like button so i
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know that it helped you
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and um leave a comment if you have any
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questions i'd be happy to
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keep creating more videos that help you
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so um
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this video is on assortment planning
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and again this is for people in the
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fashion industry i am focusing on
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mostly apparel however this can
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translate to
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the food industry the beverage industry
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um a lot of different things you could
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take a lot away but mostly
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the the fashion industry is what this
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will be helpful for
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so hope you guys find this helpful and
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again this is on assortment planning
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this is a crucial piece to being
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successful in the industry
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um uh my background comes from some
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pretty big
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companies which i've gotten to use this
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system
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at not system but technique
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at many different companies and it's
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helped me a lot and i brought it to
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smaller companies
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and for any buyer out there even if
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you're a one store buyer you have your
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own boutique store if you have a website
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if you have a thousand stores if you
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have 20 000 stores yes that exists
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um you could probably implement some of
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these so
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and a lot of this is probably known for
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those big people but anyways i'm
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rambling
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so um assortment planning this is my
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favorite
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thing i love doing this um so i'm going
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to walk you through basically
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the last video if you watched it was on
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item setup
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right here so we talked about this
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setting up an item your class
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the year at launch the month it's
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planned to launch
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um subclass such as a top or bottom
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and these were just some other examples
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i
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had and then a color coding system which
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i've been at a lot of companies and i
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haven't really seen this done very well
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so um this is something i just kind of
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came up with
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it's not perfect so definitely um if
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you're going to be an entrepreneur
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definitely don't copy i don't want to
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say copy ideas but
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take this and apply it to your business
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um every business is very different and
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i have seen that from being at very
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different categories
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so make sure you really try to think
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this through it's not gonna be perfect
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but i can tell you it'd be a whole lot
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better
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um starting with something kind of
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somewhat of a plan
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so uh back to this is my color system so
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i made a couple of changes
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i think i changed these maybe instead of
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starting from a zero to starting with a
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one
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and there's a reason for that um i will
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probably touch base
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on that on one of these other lessons i
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plan to do in the future
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um so and then i think i change
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these so to seven to start with these
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numbers here seven eight nine
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and then i added a couple descriptors up
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here so i created a little
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uh letter for n neon
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and then on my next tab i'm going to
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show you i've added a navy
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and i'll be adding some metallics
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so and again just real quick look at
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this pastel to dark so
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we're going to take all this and apply
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it to the assortment planning
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and then all this information is going
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to keep building on so it's really
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important important that you kind of
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grasp this
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so um let's see what else here
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okay we're gonna get started so
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assortment
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planning so here we have that item
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number we talked about
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on the last um lesson of item setup if
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you haven't watched it go find it
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and so this is the item number
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and then i kind of broke it out here
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just so it's easier to kind of
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understand so we've got the class year
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month subclass
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color style number so then this
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both of these will kind of relate to
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each other so i have all the information
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in here so i have
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um women's items and then i have
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abbreviated so that's in that style
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number here the wo
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the year at launch the month at launch
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the sub class we talked about top or
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bottom
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here um also brought in a bra
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and i might talk about that in the next
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video again please here please
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leave your comments if your questions so
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i can create another video to help you
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if i skip over anything or you need more
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clarity um color description color code
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that's from the prior thing
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um i think this is so interesting
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to show this to people because i really
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feel like this is a great way so like we
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talked about
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z is on the end of the color spectrum
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dark colors so just looking at this
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you know this is a dark color if you
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took away the call next to it
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you know this is a dark color m's kind
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in the middle which i actually
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uh tied it with medium so you know it's
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kind of in the middle color
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s is probably a little darker than me
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medium so
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um perhaps that's a navy a is going to
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be super light
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again dark and i did in for neon so
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going back to this you can see this
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right here and neon
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the dark go see my item set up again
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okay so color code item description
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fit um this is just an
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extra thing i added um it's a kind of
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nice to have not necessary
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and cost retail markup we can talk about
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this in another
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class i'm going to do a retail math
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session on that
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and then some other categories such as
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performance or cotton
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um the item type again and then
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collection
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um which i think i'm actually gonna
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change this
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title um yeah so you have all this
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information here now
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and then i have a formula in here which
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um i made these two with formulas in
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here
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green this is a formula again i'm going
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to talk about that on the retail math
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sheet or lesson or video but
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um these are formulas so this is
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actually taking
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all this information in here and
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creating a style number
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and also there are systems out there
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that do this and i definitely recommend
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it um
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there's a lot of checks and balances in
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corporate and so
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um there's many ways to different do
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this you can export this data and build
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on from there you can hand get yourself
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so there's many ways to do this but
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anyways just kind of showing that
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there so then you have all this
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information and this is going to be
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super important when it comes to the
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sumifs and the sales analyzation which
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i'm going to touch base on the future
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but so here's your assortment plan and
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one of my favorite parts right here
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is buy units and planning your buys
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so i strategically put a couple of
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examples in here
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and i'm going to hide some of these
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columns now so that
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you can see this better
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we don't need performance right now
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this might be helpful for you to see
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we don't need the fit right now we're
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gonna come back to this on another
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video um
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come back to this as well
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i'll leave that okay because we can see
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it now okay so basically this first
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item i put the year 20. so
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it's 20 21 right now i put the year 20.
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and
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what you could tell somebody who's
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looking at this could know from this
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item
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is it either is launching in january
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which it does kind of look that way
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based on the significant units in the
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first month here or
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it's an existing item that we're just
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bringing into 2021
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so that's what's going on for this item
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is um and it's it's a legging so
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weather climate wise you know i expect
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us to sell a lot of units in january
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and then start slowing down in the
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spring because it's lagging and it
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starts getting hotter so my units
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reflect that
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and maybe i'd want this to be 60 you
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know sell some in february
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so that reflects that then i have a
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sports bra
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and i have it launching in 21 and
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february
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and um no particular reason for february
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just happens to be the time where you
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know thinking about
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not we but this is all mock examples
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launching this so my again my units
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reflect this to bring it in
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in february um and then
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i'm going to launch a biker short and a
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baggy t so again
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21 and then i've got a couple different
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months here so these are
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all this is going to be a new item we're
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going to launch it in february
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so there's no units in january we're
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going to launch it in february
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and my first color here and y'all these
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are just makeshift numbers and
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everything so
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don't take this too literally um
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just to help you start strategically
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thinking how to
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buy um and the whole reason this is so
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important is this is
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really how to be profitable and grow
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your business so if you're
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a boutique who's kind of in a rut um you
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seem like you're marking stuff down all
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the time this is going to help you
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tremendously
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so um again okay so we know this z is
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dark
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back to my color code this
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is actually i need to update it black
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oops my bad
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um
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there we go so it's a black item
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um i think the black's going to be my
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number one so
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i want to bring that color back
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so black i think it's gonna be my number
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one color
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and that's just hypothetical um
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just what i'm i'm planning here so black
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is one and then you know i think i'm
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gonna
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continue to sell this all throughout the
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rest
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of the season and so i have this
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assortment plan broken up into
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um it's easier to kind of do
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six months at a time versus a whole 12
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months so
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spring 21 through six months and these
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different colors here
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are the different quarters so this is q1
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q2
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uh the purple here q2 so um launching in
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february
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um you know i think this item biker
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shorts are short be great through june
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then i'm going to launch a medium gray
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and navy same time
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however i don't think they're going to
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be as good of colors as a black legging
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so i'm only launching with 40.
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um i'm going to talk about some of this
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on another
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youtube so then let's see metallic pink
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um this is a fashion color and say
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fashion does really well for us so i
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think it's gonna be
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better than our black maybe even i think
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it's gonna be
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200 um and same for this one i think
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it's gonna be way better
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than our black so 200 units
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i'm going to launch with but it's a
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fashion item you know i don't think
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i think she wants to buy this it's cool
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be great forever but i think she's going
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to want something new the next month so
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i didn't do any replenishment units
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that's what all these units are
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replenishment units
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so then bike short being a trend
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i want to bring in another fashion color
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but you know i think
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pink and purple is enough um so i'm
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going to wait till the next month to
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bring in it
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so i here have another color coming in
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the next month
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reflected here and you can also put in a
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formula
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where if it equals this it'll come over
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here
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um i've done that before it's been a
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while
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so uh depending on your lead times
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let's say these blew out in one day we
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sold 200
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units in one day so now i'm like okay i
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actually wanted that to live a
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a month because that's how i'm buying is
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by month here
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so you know if i can sell that much in a
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day just 30 days in a month so let's
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take that by
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times 300 which i have a formula in here
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but i actually have
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25 days because at the end of the month
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i don't want to be left with some
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so i want five days to kind of wind down
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so maybe even
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even 20. so these did so well i'm gonna
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buy
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2 000 units for the next month and then
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maybe i add another color
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another color another color
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then i come to top same thing so i need
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some tops to go
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with the bottoms um
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so i i just
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tone or the trend right now is mono
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monochrome
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monochromatic so i have the same colors
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and i didn't put
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units here and i'm going to
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touch base out on another thing i kind
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of wanted to get this is a lot to grasp
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and i would definitely try to go through
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and build your own assortment thing
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and see where you get it let me know if
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you have any questions comment below
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like it if it helped um if you want me
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to be more specific on anything
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please put that in the comments below
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thanks again hope this was helpful
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and stay tuned i'm gonna definitely do
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probably a part two and part three of
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this
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and then why this stuff is important on
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all these other
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videos so click subscribe and
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that way you will make sure to get the
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videos when i launch them
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thank you
