Modern History of Celtic Jewelry Exhibit [Buy]5/13/2013 2:16:47 PM
Modern History of Celtic Jewelry Exhibit The Modern History of Celtic Jewelry is the title of both a book and an exhibit that Walker Metalsmiths is presenting during spring, 2013 at their Fairport, NY shop. Celtic art is usually presented to the contemporary consumer as a living art form handed down from an ancient tradition going back to the Book of Kells and the Tara Brooch. This project tells the story of the more recent history, from the early Celtic Revival of the 1840s up to the beginning of the Celtic Renaissance of the 1980s. On display will be some of the earliest archeological facsimile brooches from Victorian Dublin craftsmen such as Waterhouse, Johnson and Acheson, 19th century Scottish pebble jewelry, jeweled dirks and sgian dubhs and "Iona" silver jewelry by Alexander Ritchie, Iain MacCormick and Hamish Dawson-Bowman. Several of the craftsmen whose work pioneered the more recent popularity of Celtic jewelry in the later 20th century are also featured with early examples of their work. These include Aidan Breen, Ola Gorie, Shetland Jewellery and John Hart. The fully illustrated catalog of the exhibit includes articles by Dr. E. Mairi MacArthur, Aidan Breen, Stephen Walker and is edited by Tara Kelly. Ms. Kelly is currently a PhD candidate at Trinity College Dublin and is doing her dissertation on the manufacture and marketing of Irish Victorian Celtic metalwork. The exhibit will run from March 8 to June 2 at Walker Metalsmiths Celtic Jewelry at 140 Packets Landing, Fairport, NY. For more information contact Stephen Walker 607-478-8567. Modern History of Celtic Jewelry; 1840 - 1980 News that the Tara Brooch will be on exhibit this spring at Walker Metalsmiths Celtic Jewelry in Fairport, NY may come as a surprise, as that 8th century masterpiece of Celtic design and craftsmanship is one of the most closely guarded treasures in the National Museum of Ireland. The brooch's confusing history goes back to shortly after it was discovered in 1850. A Dublin jeweler, George Waterhouse, acquired the original 8th century brooch from the peasant family that found it. He then manufactured high quality facsimiles, which he promoted as "The Royal Tara Brooch". On display at Walker's is one of these Waterhouse Tara Brooches, made over a hundred years ago, but far more modern than the thirteen hundred year old original. In addition to the Tara Brooch, over sixty other examples of modern Celtic jewelry made between 1840 and 1980 will be on display. This special exhibit tells the story of how the traditional forms and designs of medieval Irish and Scottish jewelry evolved from the time of the Potato Famine to the beginning of its present popularity. Through the 19th and 20th centuries the historical designs of interlaced ornament and traditional symbols evolved and adapted to modern tastes and purposes. The style also went into and out of fashion throughout the years and came to serve different purposes with communities as diverse as cosmopolitan Dubliners, craftsmen working on remote Scottish islands, and descendants of Irish and Scottish immigrants. The Irish American Cultural Institute will host a free lecture on the jewelry of the Irish Celtic Revival by Tara Kelly at 135 Basil Hall, St. John Fisher College at 7:30 pm on Tuesday March 12. Ms Kelly, who is currently a PhD candidate in Art History at Trinity College Dublin, is preparing an illustrated catalog of the exhibit that will include articles by Scottish historian Mairi MacArthur, Irish craftsman Aidan Breen and the exhibit's curator, Stephen Walker. An opening reception for the exhibit at 140 Packets Landing in Fairport will be on Friday March 15 from 5 to 8. Regular hours at Walker Metalsmiths are Wednesday through Saturday, 10 to 6. Admission is free to the public. The exhibit will remain on display through Fairport Canal Days, closing June 2.
Inventory Turns [Shop]5/13/2013 1:20:26 PM
Inventory Turns The calculation to figure out how you are turning inventory, is to first find out the Cost of Goods Sold (COGS) for the past 12 months. Then take the current inventory and divide it by the Cost of Goods Sold and you get the number of times you have turned inventory. Retailers, who used to work on the "Retail Method of Accounting", traditionally calculated the number of turns of inventory by adding beginning RETAIL value of your inventory to the RETAIL value of your purchases then subtracting the RETAIL value of the ending inventory, then divided that value by your total sales. This method has been used in the past because the retailers, on the advice of their accountants, used retail values as it was too difficult to calculate costs manually. But that assumes that everything you sell will be at the retail value. Now, with a good Inventory Control system you will obtain a true Cost of Sales. The turns can be calculated for the whole inventory or part of the inventory such as a department or product grouping and gives you a picture of the business compared to the last month, quarter, season or year, and how you compare to others in your industry. The higher the number of turns, the better you are doing and the more productivity you are getting from your inventory investment, Return On Investment (ROI). If two companies are the same in every way but one is turning over its inventories more often, the one with better inventory management is the one that is going to be able to grow faster. Inventory management actually is a bottleneck for growth if it is not efficient enough, tying up a lot of working capital that could be better used elsewhere. There is a fine line between a high number of turns and running out of product because your inventory is too close to what you are selling AND having too much inventory compared to your sales- When you get your inventory to the correct levels then you have achieved Just-in-Time Inventory. There is a critical mass point where the amount of inventory on hand will earn the best return. For example, if you had $1 million in inventory, and you only had sales of $100,000 in a month, you would have too much inventory and not make the turns. On the other hand, if you had $10,000 in inventory and $100,000 in sales, you would be buying too often and losing out on inventory turns. The ideal point is to turn inventory 5-6 times, and it is possible to turn it 10-12 times as many companies do. There are many factors which influence inventory turns, including how quickly you can replenish. Your goal is to keep your inventory investment at target levels with as wide a selection as possible. Financial advisors Motley Fool believes inventory is a liability masquerading as an asset, especially with retailers. Inventory represents the merchandise the company has available for sale. For most retailers, this is finished goods sitting in warehouses or on store shelves. The reason they consider this a liability is because of inventory risk. Essentially, inventory risk is the risk that the value of the inventory will decline before it's sold. The problem that many retailers face is that their goods are perishable, either literally in the sense of food spoiling, or theoretically in the sense that items could go out of fashion. How big is this risk? It depends on the type of retailer. For retailers that sell fashionable items, this risk is significant. If they cannot sell products when they are "hot," it will be hard if not impossible to sell them at full price in the future. The result is lower prices or "markdowns" on the inventory to entice customers to buy the merchandise. Because of the lower prices, the company will make less money, thus profits fall. Furthermore, when it comes time to buy merchandise for the next season, the retailer finds itself a bit short of cash. In fact, the retailer could decide to buy fewer items next time to hedge against inventory risk. The point here is that high levels of inventory are often a leading indicator of problems for a retailer. Many industries and companies use GMROI (Gross Margin Return on Investment) which is a merchandise planning and decision making tool that assists buyers in identifying and evaluating whether an adequate gross margin is being earned by the products purchased, compared to the investment in inventory required to generate those gross margin dollars. This is very common in the fashion industry, where merchandise is replaced every season. For every dollar of inventory investment GMROI will help you calculate your return. The industry may average $2.00 return for every inventory dollar, however, some retailers, however are getting $4, $5 or more. GMROI reveals where actual dollar profits (versus paper profits) are attained in the merchandise plan. It focuses the buyers' attention on return-on-investment rather than sales as a basis for merchandising decisions. To calculate GMROI, follow these steps: GMROI works for any size store, department or merchandise classification. It will work for each category in each department, each class in each category, each color, each size in each class and so on. Managing your GMROI results will enable your inventory to work for you and generate increased profits. George Matyjewicz, PhD is Global Strategist of GAP Enterprises, Ltd. He was formerly President/General Manager of a global digital currency company with customers in 190 countries and Chief E-Commerce Officer for a global giftware company. CPA/Consulting firm. He is regularly published as an expert on global business, finance, technology and implementation and writes and publishes E-Tailer Digest which reaches retailers in 50+ countries worldwide.