Description:

Upon successful completion of this course, the student should be able to describe the management structure of retail merchandising operations, contrast merchandising functions among various types of retail operations, explain the buying process, explain the financial operations of retail merchandising and apply these principles in computer-simulated case situations. 3 hrs./wk. This course is typically taught in the spring semester.

Supplies: Refer to the instructor’s course syllabus for details about any supplies that may be required.

Textbook(s): For information see - http://bookstore.jccc.net

Course Fees: NONE

Course Objectives:

Upon successful completion of this course the student should be able to:

1. State the responsibilities of the buyer, assistant buyer and store-line executives.
2. Compare and contrast buying responsibilities among specialty stores, department stores, chain store operations and discount stores
3. Describe the methods of buying and how the buyer works effectively and efficiently in domestic and foreign marketplaces.
4. Explain the placement of orders and the merchandise flow upon receipt.
5. Describe and perform the invoice calculations of payment terms and shipping terms.
6. Describe and demonstrate initial pricing of merchandise and relevant markups.
7. Explain repricing systems and the effect of markdowns on maintained markup, gross margin, and operating profit.
8. Describe the purchase planning function and control of same throughout the season.
9. Develop dollar and unit open to buy plans.
10. Measure and evaluate sales results in dollars and units.
11. Describe and demonstrate sales associate scheduling and productivity analysis.

Content Outline & Competencies:

I. Understanding Fashion Marketing
   A. Identify and define merchandise line jobs (i.e., assistant manager,
buyer, merchandise manager)
   B. Identify and define store line jobs (i.e., sales associate, sales
manager, group manager, store manager)

II. Pricing Decision Making
   A. Define and calculate initial markups
   B. Define and calculate merchandise reductions (markdowns)
   C. Define and calculate maintained mark-up

III. Merchandise Budget Planning and Control
   A. Explain and calculate beginning of month stock
   B. Explain and calculate monthly sales
   C. Explain and calculate monthly markdowns
   D. Explain and calculate planned purchases
   E. Explain and calculate average stock
   F. Explain and calculate stock turnover
   G. Examine the importance of own history and the utilization of
industry norms

IV. Planning Merchandise Assortment
   A. Calculate open to buy
   B. Calculate planned dollar purchases
   C. Calculate planned unit purchases

V. Planning Market Trips
   A. Identify and illustrate open to buy by classification and delivery
month
   B. Explain the process of resource selection
   C. Explain and evaluate the use of buying offices
   D. Explain the importance of vendor negotiations/partnerships
   E. Illustrate the process of order placement
   F. Explain techniques for follow-up on orders placed

VI. Calculating Profit or Loss Statements
   A. Identify and explain elements of a profit or loss statement
   B. Explain the effect of change on a profit or loss statement
   C. Illustrate and evaluate decision making based on analysis of a
profit or loss statement

VII. Staff Scheduling
   A. Identify hours of operation
   B. Calculate average rates of pay
   C. Define and calculate selling cost percentages
   D. Analyze the distribution of available hours
   E. Analyze the distribution of hours to staff members
   F. Explain the impact of staffing distribution on sales volume
   G. Explain and illustrate the impact of staffing decisions on profit or
loss

Methods of Evaluation of Competencies:

Evaluation of student mastery of course competencies will be accomplished using the following methods:

Exams:      
Exam 1 = 75 points
Exam 2 = 75 points
Exam 3 = 75 points
Exam 4 = 75 points
  Total Exams:                          300 points

Homework Problems:                      350 points

Computer Projects:
Buying Plan              = 50 points
Promotional Purchases    = 50 points
Markdown Project I       = 50 points
Markdown Project II      = 50 points
6 Month Merchandise Plan = 75 points
Scheduling               = 75 points
Total Projects:                         350 points
TOTAL:                                 1000 points

Caveats:

1. Students must pass all FASH courses with a grade of "C" or higher for the Fashion Merchandising and Fashion Design degrees.

Disabilities:

If you are a student with a disability, and if you will be requesting accommodations, it is your responsibility to contact Access Services. Access Services will recommend any appropriate accommodations to your professor and his/her director. The professor and director will identify for you which accommodations will be arranged.

JCCC provides a range of services to allow persons with disabilities to participate in educational programs and activities. If you desire support services, contact the office of Access Services for Students With Disabilities (913) 469-8500, ext. 3521 or TDD (913) 469-3885. The Access Services office is located in the Success Center on the second floor of the Student Center.