Merchandise management: the process by which a retailer attempts to offer the right quantity of the right merchandise in the right place at the right time while meeting the company"s financial goals. Assortment plan: list of merchandise that indicates in general terms what the retailer wants to carry in a particular merchandise category. Gmm) a group within an organization managed by the senior vice preseidents of merchandise and resposible for several departments. Department: a segment of a store with merchandise hat represents a group of classifications the consumer views as being complmentary. They are managed by divisional merchandise managers who report to the vice presidents. Classification: a group of items or skus for the same type of merchandise, such as pants (as opposed to jackets or suits), supplied by different vendors. Category: an assortment of items (skus) the customer sees as reasonable substitutes for each other. Merchandise category: an assortment of items that customers see as substitutes for one another.