Fundamentals of Merchandising Math and Retail Buying

Description

UNIT 1: FORMULAS AND BASIC PRINCIPLES

Introduction: Getting Started

Chapter One: Sales and Percent Change

Chapter Two: Percent to Total

Chapter Three: Sell Thru

Chapter Four: Stock-to-Sales Analysis

Chapter Five: Markup & Markdowns

UNIT 2: MANAGING THE BUSINESS

Chapter Six: Purchase Orders

Chapter Seven: The Six Month Merchandise Plan

Chapter Eight: Profit & Loss Statement

Chapter Nine: Cooperative Advertising

UNIT 3: PRIORITIZING AND NEGOTIATING

Chapter Ten: Buying Simulations

Chapter Eleven: End-of-Season Negotiations

Chapter Twelve: Monday Morning Reports (Sales)

Chapter Thirteen: Monday Morning Reports (Markdowns)

For courses in Retail Buying, Merchandising Math, Merchandise Management, Advanced Buying, Strategic Merchandise Planning.

Bridging the gap between current merchandising math textbooks and retail buying textbooks,  The Fundamentals of Retail Buying with Merchandising Math incorporates both buying philosophies and merchandising math. The text’s problem-based method of learning incorporates questions and problems that train the reader to think like a buyer and encourage group collaboration and critical thinking. Simulated exercises mimic real-life buying responsibilities. Additionally, the order of the chapters and content within each chapter mimic the training of an assistant buyer in a corporate buying office.  Providing a full, broad view of the retail buyer’s role, the text also includes the key merchandising math formulae that is the basis of all retail buying analysis. 

Hallmark Features:

Problem Solving sets and simulations offer examples of real-life buying problems which promote critical thinking and increase retention of information.

• Simulations combine several concepts and formulae to encourage integration of material. 

Monday Morning Reports in the last two chapters include problem solving sets that encourage students to think like buyers.

• The reports found in these chapters are used by the buyer on Monday to prioritize the week ahead based on current business trends. 

The order of the information mimics the training of a retail buyer in the industry.

• Students are trained in the same order that they would be trained in a buying office.  

Students have access to an Online Simulation that includes a vendor merchandise plan and gross margin analysis.

• Enables students to experience what happens in the course of a 6-month buying season and the final result, gross margin.

Buyer and vendor negotiations exercises promote critical thinking in students.

• Students are able to experience what it is like to be both the buyer and the vendor during this competitive exercise.

Simple language tells a story about buying.

• Students are easily able to identify with the reading material and thus the math problems become less intimidating. 

Excel tips offer students useful insights on how to increase their proficiency at using Excel spreadsheets.

• Covers simple Excel formulas throughout the book that encourage the use of computerized spreadsheets for analysis.

For courses in Retail Buying, Merchandising Math, Merchandise Management, Advanced Buying, Strategic Merchandise Planning.

Bridging the gap between current merchandising math textbooks and retail buying textbooks,  The Fundamentals of Retail Buying with Merchandising Math incorporates both buying philosophies and merchandising math. The text’s problem-based method of learning incorporates questions and problems that train the reader to think like a buyer and encourage group collaboration and critical thinking. Simulated exercises mimic real-life buying responsibilities. Additionally, the order of the chapters and content within each chapter mimic the training of an assistant buyer in a corporate buying office.  Providing a full, broad view of the retail buyer’s role, the text also includes the key merchandising math formulae that is the basis of all retail buying analysis.