This course introduces students to the essential mathematical concepts, techniques, and analyses fundamental to the buying and planning processes in retailing. It covers how retailers procure goods from manufacturers, then distribute and sell these goods to consumers, using mathematical problems and interactive learning methods. By the end of the course, students will understand how to maximize return on investment through sales and inventory planning to increase profitability, the importance of maximizing sales potential while minimizing losses from markdowns and stockouts, and will be able to explain the financial operations of retail merchandising and apply these principles in basic computer-simulated case studies.
