Liu Cheng: The high inventory backlog caused by the expansion strategy has created "the worries of customers"

According to the Voice of the Economy “The World Company” report, Liu Cheng, a doctoral tutor of the School of Economics and Management at the Beijing University of Science and Technology, commented on “the worries of the guests.”

Liu Cheng: Vanke, which was established at the end of 2007, has become a relatively successful enterprise in recent years. It has become very popular in the field of e-commerce and its business has expanded very rapidly. Each year, the scale of expansion exceeds 100%. In 2010, the number of passengers increased by 300%. Vanke’s marketing is very good and its marketing methods are very unique. It adopts a topical idol strategy and employs Han Han, Wang Haodan, Huang Xiaoming, Li Yuchun and other stars to join the advertising team. Inadvertently, it creates a variety of objects in the advertising industry, winning a lot. Young consumer groups are favored.

The guest who has been going smoothly has been annoying recently. On the path of rapid development, the company has encountered a series of unpleasant things. Throughout 2011, where all passengers were fully expanded and tried repeatedly, the result was repeated mistakes. First, in the second half of last year, Vanke was plunged into a vortex of layoffs and losses, and the recent advertising oolong incident pushed the guests to the cusp. These are the small things in the series of unsatisfactory things that the guest encounters. What really worries the guest is also a matter of life and death. It is an invaluable inventory.

As of the end of the third quarter of last year, Vanke's total inventory was as high as 1.445 billion yuan. These stocks are piled up in real gold and silver, and they need to occupy valuable funds. How the guest digests these stocks tests the wisdom of the guest leaders. How is the huge amount of inventory that makes customers trouble?

Huge amount of inventory comes from the process of rapid expansion, where the customer makes wrong judgments about the situation. The development of passengers is too fast and too smooth. As a result, the leaders have no time to think and summarize, and they have no turning back to lead the young team to the fast track. Under the control of blind optimism, the passengers accelerated the pace of expansion and planted the wrong results.

The first bitter fruit, where patrons blindly expand orders. The traditional clothing enterprises are all in the channel of goods and stores, and they do spring, summer and autumn and winter for one year. According to their own forecasts, certain orders are determined in advance. This model must have a certain amount of inventory, and the general inventory ratio should be kept at the level of 1.4, that is, to ensure that there is no shortage of goods, to sell one piece of clothing and to have 1.4 pieces of inventory.

Where passengers take the Internet fast fashion model, designed to break the limits of the two seasons, but where the same customers are difficult to escape the inventory problem. The rapid growth of orders has directly led to blind optimism about the current sales situation. When a suit sells, the customer feels an urge to add a large number of orders to the company. However, due to the inaccurate forecast of consumption trends, it is very easy to produce an inventory backlog. Where the customer does not digest the inventory, it is either discounted or sold off. But the question is whether there is a market for clothes that will be sold next year. Seasonality and periodicity of clothing have already passed, where passengers can only face huge stocks that cannot be reduced. The development of Vanke in 2011 shows that there are few cases of market demand forecasting, and there are many mistakes.

The second bitter fruit, where the customer's expansion in the category of goods, accelerated the backlog of inventory in January 2011, where the growth of passengers is 6 times the same period in 2010. The entire management team began to have a feverish mind and thought that the annual sales of 10 billion yuan in 2011 would be conservative. Under the impact of the Great Leap Forward, companies began to frenzy and felt that everything could be done. They began to do men's and women's wear, shoes, home textiles, and even cosmetics. Some categories have been successfully tested, such as T-shirts and canvas shoes. However, some categories, such as rice cookers and mops, failed. Some of the categories that should not be exploited have been opened up. The direct consequence is that it brings in the wrong inventory. Whenever the customer is aware of the seriousness of the problem, there will be a "slam brake" and layoffs in the second half of 2011.

After the 2011 full-scale expansion policy created a serious problem of high inventory, Vanke was also rethinking the growth mode of the product-driven approach adopted in the past. In the rapid development of passengers, we must continue to consolidate the corporate foundation as the company develops. Mistakes in details can ruin the company's great future. Vanke's summary of the lessons of expansion and out-of-control lies in the lack of a precise grasp of customer needs, so that blindly placing orders has led to high inventory levels.

In the future, where passengers should adhere to a small number of purchase principles, off the goods will never turn over orders, stick to the new. Wherever the experience of passengers in return for the cost of blood, I hope to be a valuable asset for all guests. Now, the customer's inventory problem has eased. The current inventory turnover rate has increased from 100 days last year to the present 50 days to 30 days. The mistakes of young guests come from young people. They are the tuition fees that must be paid in trial and error in the process of growth. It is hoped that all entrepreneurial entrepreneurs will not be discouraged. We must meet the challenge with the spirit displayed in the advertising slogan "It's Spring, It Doesn't matter." Come on, everyone, spring has arrived, we are not afraid of the cold.

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