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Stock turnover is a measure of how many times inventory is sold and replaced over a period. It is calculated by dividing the cost of goods sold by the average inventory. High stock turnover indicates strong sales, whereas low turnover may suggest overstocking or weak sales. Efficient stock turnover is crucial for maintaining cash flow and reducing holding costs.

Open-to-Buy is the budgeting process that determines the amount to spend on new inventory purchases while considering the existing inventory and sales. It helps in managing cash flow and ensuring that the retail store does not over commit to stock, thus avoiding markdowns and excess inventory.

GMROI is a profitability ratio that measures the return a company gets for every dollar invested in inventory. Calculated by dividing gross margin by average inventory cost, a higher GMROI indicates more efficient inventory management and profitability.

Category management is an approach to managing a retail business that organizes products into distinct categories, treating each as a separate business unit. This method provides better control over merchandising decisions, tailors inventory to customer demand, and potentially increases profits.

Cross-merchandising is the practice of displaying products from different categories together to drive additional sales. For example, displaying accessories next to clothing. It encourages impulse buys and can enhance the shopping experience by providing a complete product story.

Visual merchandising involves the presentation of a store and its merchandise in ways that attract and engage customers. It includes window displays, layout, and in-store displays. Effective visual merchandising can enhance the shopping experience, strengthen branding, and increase sales.

Supplier relationship management involves the strategic planning and management of all interactions with the vendors that supply goods and services to a business. It aims to streamline operations, reduce costs, and improve the quality and timeliness of supply.

The sell-through rate is the percentage of units sold compared to the number of units that were available to be sold. This metric helps businesses understand the demand for their products and can influence decisions on reordering, markdowns, or clearance pricing to optimize stock levels.

PLM in fashion is the process of managing the entire lifecycle of a product from inception, design and manufacture, to service and disposal. PLM software can improve product development efficiency, reduce time to market, and enable better collaboration across departments.

Point of Sale data refers to the information collected during the transaction process at retail. This data includes sales, returns, and transaction patterns. POS data is crucial for inventory control, sales forecasting, and understanding consumer buying behavior.

Fashion forecasting involves predicting future trends in fashion, including colors, materials, and styles. It is essential for planning and developing product lines. Good forecasting can reduce the risk of fashion misses, maintain relevance in the market, and improve sales planning.

Private label development is the creation and merchandising of a retailer's own brand of products. It allows a retail business to offer exclusive merchandise, typically at higher profit margins, while differentiating itself from competitors.

Assortment planning is the process of determining the variety and quantity of products to be available for sale. It affects the balance between meeting customer preferences and maintaining inventory cost efficiency. Careful assortment planning ensures attraction and retention of customers by catering to their needs while preventing overstock.