Starting with strategic planning, it's an effective technique for designing and implementing effective plans to take the organization down the road to the future. While many companies are hesitant about long-range planning, thanks to ongoing economic disruption, others have discovered that a systematic approach supported by sophisticated analytics works. This allows them to understand and balance risk, and identify the best decisions to take them toward their strategic goals.
We offer a suite of supply chain planning, network optimization, order allocation, and general planning solutions that are purpose-built for business users rather than data scientists. Just click the button below, and grab a time slot that works for your schedule. Get in Touch. What Is Long-Range Planning? The Relationship Between Strategic Planning and the Long-Range Plan Strategic planning is a structured process, usually carried out by the executive, which determines long-term organizational goals.
Characteristics of Long-Range Planning If not already stated in the strategic plan, a long-range plan should start with a statement of the organization's mission and vision. Techniques for Focusing Long-Range Thinking Most companies are good at short-term planning and often have excellent strategic plans but fail in the implementation. Forecasting Long-range planning activities and goals need to be specific.
Handle uncertainty and unexpected change The planning process should take into account risk and structural uncertainties. Understand whether specific goals and targets are realistic Set targets that are feasible and realistic. Optimize long-range planning practices It's important to think holistically, ensure you have adequate decision support software and have integrated your long-range planning with your budgeting process to avoid conflict and unrealistic goals.
Examples of Long-Range Planning While many businesses are wary of long-range planning, others embrace it. Long-Range Planning: Bridging the Gap Between the Present and the Future Long-range planning is key to bridging the gap between where your organization is and where you want it to go. Explore Our Solutions We offer a suite of supply chain planning, network optimization, order allocation, and general planning solutions that are purpose-built for business users rather than data scientists.
Ready to Chat with Someone? Range planning also sets the foundation for distribution, especially for store allocation and store cluster levels. Intertwined with the demand planning and visual merchandising processes, the range plan is a key planning document for selecting which products actually end up on the shelves. Executed by the visual merchandisers, a range plan is commonly referenced for window display and throughout the store, highlighting must-haves or key looks for the season.
The range plan can also guide the creation of pages for online visual merchandising. New arrivals on the homepage typically showcase the seasonal collection, as translated from a range plan. Another common trick used for online stores is to place similar products within clusters on the product page.
The placement of the products and description of the SKUs on the product page will be done in reference to the range plan. Range planning is a key discipline in merchandising. The range plan aligns the merchandising, buying, design and manufacturing processes, and sets the design and financial directions of the collection.
Fashion Electronics. Support Center Login. Remember, changing minor details on the pattern, or using a different fabric or simply just a different colour can totally change the feel of a garment. Buyers often prefer to have a few key styles and number of options within that style that they can choose to best fit their customers.
It also massively cuts down your work load. The Cutting Glass have done an awesome "by numbers" analysis of a Rick Owens runway collection, showing how many styles are different or the same just in different colours or fabrics. It really puts the range plan into context. One of the many reasons laying the foundation of a streamlined range plan is so important is that each part affects the others.
When you first started your plan, I mentioned that it was important to have a vision and understand the niche market you are serving. This is mainly because when it comes to your pricing strategy knowing which niche you are targeting can define the strategy you choose. Knowing how much money your target market is willing to spend will undoubtedly be a factor when choosing the fabrics and production methods and vice versa.
The biggest factors when pricing your line are raw material and production costs. Remember, if a garment has a more complicated pattern or the sewing together is quite labour intensive, then your production will take longer, meaning costs will be higher.
You may want think about how to offset this. For example, if you have one or two more complicated pieces in the collection, you may have a few really simple designs that are super quick to make. The same goes for choosing fabrics. You may want to use a few luxury fabrics mixed with some cheaper lines so you can stick to an overall budget.
Or if you are intent on using only the highest quality fabrics, you need a clear strategy for reaching out to a high end market. For instance, the marketing department's goal of expanding into new sales territories may require additional equipment laptops, wireless phones from administration or additional staffing and training via human resources.
Review annually. The long-range plan should be reviewed at least once a year to be sure it reflects changes in the company's position and its markets.
But Brown realized the growth was untargeted, comprising any construction work offered. This included roofing, siding, major remodelings and even new homebuilding. In he wrote his first true mission statement by analyzing what work the company did best, what employees enjoyed doing and where open niches existed. This focused the company on upscale major remodelings. He opened an office and cabinet shop near the section of town where demographics focused this work, and he eliminated all other types of construction to focus marketing efforts in this niche.
The company now has five divisions: custom remodeling, landscaping, custom millwork, custom interior finishes and new home building. DO IT [ top ] Think about what set the company apart when it opened. Has that changed? Was the change directed or did it simply evolve? Have the changes been strategic for the long-term or did they simply create short-term profit? Do the mission and vision statements reflect present reality? Look at the company as an outsider or customer, reviewing strengths and weaknesses to find areas of opportunity and improvement.
Ask managers to report how their units contribute to the mission and what goals related to the mission could make them more effective. Communicate your strategy to all levels of your organization to ensure everyone is operating with the same goals. Link your long-range plan to employee performance and compensation. Refer to elements of the long-range plan frequently — whenever it can be used to provide guidance.
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