Yanca Oy Ltd: Purchases Budgeting Tool for SME Buyers in The Fashion Industry

Abstract

Purchases are the most important part of all retail businesses. Budgeting the purchases well is the key issue in avoiding over or under purchases. This thesis is made for Yanca Oy Ltd, established in 2011, by the author of the thesis. The company operates in the fashion industry offering guidance for retail shops in the field of visual merchandising, budgeting and purchases. Yanca Oy Ltd has an auxiliary business name Designers & Buyers db, the aim of which is to help fashion professionals to network and internationalise. This auxiliary business name is used as the name of the tool created in this product-based thesis.

The idea for this thesis was ignited by the fact that there are several shop owners in the Finnish fashion retail business who do not have the required tools or knowledge how to plan their purchases ina more accurate and economical way.

The thesis process started by an overview of relevant theory about purchases planning and budgeting in the fashion industry. An Excel based purchases budgeting tool was designed and created. Finally, the tool was tested by Boutique Sipilä and feedback was also requested from Suvi Kari, a buyer in Bestseller A/S.

The outcome of this thesis is a purchases budgeting tool for buyers in the fashion industry.