Fortune reports that $$excellent

inventory control$$ is a secret to the strategic success of TJX$,$ including the following practices:

$1.$ Turn inventory over quickly. According to Morningstar, TJX turns over inventory every $55$ days,

versus $85$ days for its peer group. TJX is structured to buy quickly and sell merchandise. Often,

merchandise is sold before TJX has paid its vendors. Quick inventory turnover keeps new merchandise

on the floor so customers rarely see the same items on repeat visits. TJX trains employees

to $$buy when you see it; otherwise it will be gone.$$

$2.$ Provide $$value$,$ trendy merchandise,$$ not $$cheap$,$ leftover merchandise.$$

$3.$ Promote the $$treasure hunt$$ experience rather than catering to lower$-$income customers. Even

high$-$income customers love the treasure hunt experience in TJX stores.

$4.$ Train buyers extensively and then give buyers autonomy to negotiate millions of dollars of purchases

from suppliers. Purchase inventory year$-$round, continuously rather than seasonally, and

purchase as close to the time of need as possible to negotiate a better price and be assured of the

latest fashion trend. Negotiate low prices for purchases even if it means often purchasing $$all

available items in a category.$$

Questions

$1.$ What are the advantages and disadvantages of keeping the strategic$-$planning process secret versus

placing the firm$$s strategic plan on the corporate website and discussing strategies and planning

publicly?

$2.$ What are three types of industries where secrecy is warranted and three industries where secrecy

is not warranted, or does type of industry even matter?

$3.$ Many colleges and universities have their strategic plan posted on their website. What are the

advantages and disadvantages of this practice?

$4.$ Rank order the four $$secret$$ practices listed in terms of how important you think the items are to

TJX$$s overall success. Rank the four items from $1=$ most important to $4=$ least important.