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What are the two reasons retailers take markdowns?
Critical Items
Goods or materials that are essential for the production process or service delivery, requiring careful management.
Supplier Contracts
Legal agreements between businesses and their suppliers to define the terms of service, pricing, and delivery of goods or services.
Product Design
The process of creating and developing a new product or improving an existing one, focusing on its features, functionality, aesthetics, and usability.
Sourcing Processes
The methods and procedures used by businesses to identify, evaluate, and contract with suppliers of goods and services.
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