Fundamentals of Merchandising Math and Retail Buying 1st edition by Angella Hoffman – Ebook PDF Instant Download/Delivery: 0132724146 , 978-0132724142
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ISBN 10: 0132724146
ISBN 13: 978-0132724142
Author: Angella Hoffman
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.
Fundamentals of Merchandising Math and Retail Buying 1st Table of contents:
UNIT1: Formulas and Basic Principles
Introduction Getting Started
Retail Buying Defined
Retail Buying by Store Type
Retail Buying Responsibilities
Retail Buying Skills
1 Sales and Percent Change
Chapter Objectives
The Importance of Sales
Important Terms
Retail Sales Analysis
Comparative Sales Analysis
Table 1-1 Data
Specialty Retail Sales
Table 1-2 Data
Department Store and General Merchandise Sales
Retail Sales in Other Fashion Occupations
Table 1-3 Data
Discount and Off-Price Retail Sales
Return on Investment
Buyer-Level Sales
Sales Results
Table 1-4 Data
Daily Sales
Summary
2 Percent to Total
Chapter Objectives
How Percent to Total Is Used
The Percent to Total Formula
Rounding
The Assortment Planning Process
Market Week Preparation
Other Fashion Occupations That Use Percent to Total
Vendor Assortment
Maximizing Opportunities
The Right Number of Vendors
Summary
3 Sell-Thru
Chapter Objectives
The Sell-Thru Formula
How Do Buyers Use Sell-Thru?
New Items on the Selling Floor
What Is a Positive Sell-Thru?
Full Price Sell-Thru
Best Sellers
Problem Sets and Formula Review
Finding Meaning in the Results
Eliminating Vendors from the Assortment
Weeks of Supply
What Does Weeks of Supply Analyze?
Determining Inventory Needs
Summary
4 Stock-to-Sales Analysis
Chapter Objectives
Sales Relative to the Merchandise Offering
Development of the Merchandise Plan
Application of Percent to Total
Return to Vendor
Stock-to-Sales by Store Location
Turnover
Opportunities and Liabilities
Transferring Merchandise
Steps 1 and 2 for Completing Each Problem Set
Answers to Steps 1 and 2
Step 3: Ideal Stock Levels
Step 4: Calculate RTV, Markdown, or Order Amounts
Analysis of Stock-to-Sales Problem Sets
Review of Problem Set Analysis
Supplemental Build Orders
Solving the Following Problem Set
Final Problem Set
Summary
Merchandising Math Packet Review
5 Markup and Markdowns
Chapter Objectives
Markup
Markup Formula
Pricing Merchandise
How Do Buyers Determine Price?
Private Label and Exclusives
Store Formats and Markup
Markdowns
Summary of Merchandise Categories
Markdown or Vendor Allowance
Basic Replenished Goods
Markdown Percent
Review of Formulas for POS Markdowns
Review of Formulas for Permanent Markdowns
Markdown Planning
Successful Record Keeping
Summary
UNIT2: Managing the Business
6 Purchase Orders
Chapter Objectives
Purchase Orders and UPC Management
After Market Week
Obsolete Merchandise
Style Descriptions
Computerized Purchase Orders
Automatic Replenishment
Controlling Vendor Shipping
Record Keeping for Automatic Replenishment
Record Keeping for Fashion Orders
Dating Terms (Dating the Order)
Shipping Terms
Directions for Completing Purchase Orders
Questions Regarding Purchase Orders
The Purchase Journal
Reasons for Low Markup on Purchase Orders
Summary
7 The Six-Month Merchandise Plan
Chapter Objectives
The Six-Month Seasons
The Six-Month Plan
Open-to-Buy
The Plan at Retail
Additions and Subtractions to the Merchandise Plan
Merchandise Planning Methods
Planning Sales
Planning Stock
The Basic Stock Method
BOM and EOM Stock
Stock-to-Sales Ratio
Advantages and Disadvantages of Stock-to-Sales Ratio
Computerized Logarithms
Planning Markdowns
Using LY Markdown Rate
Average Stock
Turnover
Entire Season Merchandise Plan
Junior Department Seasonal Merchandise Plan
Returns to Vendor
Fragrance Department Merchandise Plan
Calculating the Open-to-Buy
Rolling Forecasts
Employee Discount
Shortage
Inventory
Merchandise Overage
Summary
8 Profit and Loss Statements
Chapter Objectives
Profit and Loss Outline
Major Categories on the P&L
Summary
9 Cooperative Advertising
Chapter Objectives
Vendor Support of Advertising
Advertising as a Percentage of Purchases
Incremental Sales
Advertising Media
Other Advertising Media
Planning the Advertisement
Advertising Allowance
Advertising and Markdown Allowances
By-Style Advertising Allowances
Advertising Contribution for New Product Lines
Simulation Results
Summary
UNIT3: Prioritizing and Negotiating
10 Buying Simulations
Chapter Objectives
Formatting Preferences
The First Simulation
Feedback on the First Simulation
The Second Simulation
Summary
11 End-of-Season Negotiations
Chapter Objectives
Placing Orders
Planning the Market Trip
Vendor Appointments
Resident Buying Offices
Corporate Buying Offices
Other Market Appointment Strategies
Adherence to the Market Week Plan
Vendor Market Sheets
Negotiate Throughout the Season
Negotiation Tips
Gross Margin Requirements
Summary
12 Monday Morning Reports (Sales)
Chapter Objectives
Monday Mornings
Sell Thru Review
Weekly Style Summary
Best Seller Report
Vendor-by-Class Report
Pinpointing Opportunities and Liabilities
By-Location Sales Report
Summary
13 Monday Morning Reports (Markdowns)
Chapter Objectives
How are Markdown Reports Used by the Buyer?
POS and Permanent Markdown Review
Markdowns Erode the Positive Effects of Markup
Planning for Markdowns
Advertising Changes
The Markdown Report
The Markdown Update
Vendor Allowances (VAs)
Summary
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