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RMG 400 (49)
Lecture

Buying in Retailing

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Department
Retail Management
Course
RMG 400
Professor
Bharat Sud
Semester
Fall

Description
Buyer’s job Factors affecting the Scope of the Buyer’s Job: • Merchandise carried • Organizational structure • Size of the Retail Organization Managing the Buying Function Role of the Merchandise Buyer: • Planning • Directing • Coordinating (across different buyers) • Controlling Quantitative Measures to Evaluate: • Net Sales • Maintained markup percentages • Markdown percentages • Gross margin percentages • Stock turn Planning for a Buying Career Qualifications Needed: • Personality traits (goal setting ability, creativity, vision, drive) • Merchandising knowledge and skills • Education • Analytical Ability • Computer literacy • Experience Chapter 3 – Buying for Different Types of Stores Buying different types of Products: • Soft lines Store dept or product line consisting mainly of merchandise such as clothing, footwear, je
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