Buying and Merchandising – I

Master retail buying and merchandising. Explore planning, sales forecasting, pricing, vendor selection, and retail analytics to optimize profit and succeed in retail.

Buying and Merchandising – I

1 Introduction to Buying and Merchandising

  1. Merchandise Management
  2. Principles of Merchandising
  3. Merchandise Planning Process
  4. Merchandising Strategy
  5. Merchandise Mix

2 Merchandise Management

  1. Buying and Merchandise Management
  2. Planning Merchandise Assortments
  3. Buying System
  4. The Buying Organisation
  5. Brand Management
  6. Buying Principles

3 Organizing Buying Process by Categories

  1. Category Management
  2. Partnering Group
  3. Category Captain
  4. Buying Merchandise through Open to Buy
  5. Fashion and Seasonal Merchandise versus Basic In-Stock Items
  6. Budget Planning
  7. Groceries Store/Staple products

4 Sales Forecasting

  1. Importance of Sales Forecasting
  2. Factors Affecting Sales Forecasting
  3. Sources and Magnitude of Consumer Demands
  4. Methods of Sales Forecasting
  5. Category Life Cycle
  6. Do’s and Don’ts in Sales Forecasting
  7. Annual Budgeting

5 Merchandise Objectives

  1. Merchandise Planning Components
  2. Setting Sales Objectives
  3. Setting Stock Objectives
  4. Setting Margin Objective

6 Pricing

  1. Importance of Pricing
  2. Factors Affecting Retail Pricing
  3. Break-Even Pricing and Mark-Up Pricing
  4. Nine Laws of Price Sensitivity
  5. Pricing Methods
  6. Reductions

7 Assortment Planning

  1. Necessity and Guidelines for Planning
  2. Assortment Planning
  3. Factors Influencing Assortment Planning
  4. Commercial Factors in Assortment Planning
  5. Process Overview
  6. Assortment Width Planning

8 Vendor Selection Process

  1. Vendor Selection Process
  2. Factors Influencing Vendor Selection
  3. Steps in Vendor Selection
  4. Phases for Selection of Vendor
  5. Vendor Evaluation Parameters

9 Retail Mathematics for Buying and Merchandising

  1. Practice of Retail Financial Management
  2. Terms Used for Retail Buying and Merchandising
  3. Vendor Negotiations
  4. In Store Merchandise Loss
  5. Financial while Buying for Retail
  6. Financial while Buying for Merchandising
  7. Financial while Pricing for Merchandising
  8. Retail Pricing Strategies

10 Retail Mathematics for Performance Analysis

  1. Inventory
  2. Turn Returns into Sales
  3. Financial for Store Operation and Performance
  4. Break Even Analysis
  5. GMROI
  6. Profit and Loss Account

11 Brand V/S Private Label

  1. Concept of Brand
  2. Global Brand
  3. Local Brand
  4. Ambient Brand
  5. Brand Name
  6. Brand Identity
  7. Brand Extension & Brand Dilution
  8. Multi-Brands
  9. Private Labels
  10. Branding By ITC a Case Study