When Accounting Has the Final Say
In my first career out of college, I was in retail. I progressed from Management Trainee to Buyer in several steps within a couple of years. It was a lot of fun to display and distribute merchandise in departments and branch stores. But the most fun was actually selecting the merchandise in New York and working the budget in order to purchase items for our stores. Once on the sales floor, we tracked the rate of sale and watched trends. This was all before computers so it was done with the phone, a legal pad and a calculator. If an item was selling fast, we would call the vendor and get a reorder in order to continue the sales trajectory. Department store executives could even spot a trend, call New York and get something specifically designed for their store. The energy was all about reacting to trends and market response. Sharp retailers even predicted their future markdowns. Every night I brought home my spreadsheets and studied what was happening to each item. Retail isn't ...