Merchandise Planning and Buying

Course Description

Provides an overview of modern inventory control systems and sales records. Topics include the retail method of inventory, operating statements, techniques of planning, and methods of figuring mark-ups, markdowns, open-to-buy, and terms of sales. 

Because Yelissa completed this course in four weeks, she demonstrates her ability to easily learn new concepts.

Below is one Yelissa’s assignment:

Six Month Plan

In order to demonstrate their knowledge of retail math, students were instructed to creates a six month plan using the figures provided. To have a complete assignment, there needed to be an open to buy and percent markdown for each month as well as the average monthly sales and average monthly merchandise on order.

Here are the numbers provided to solve these calculations and how Yelissa solved them: