Maricopa Community Colleges  MKT241   19936-19966 
Official Course Description: MCCCD Approval: 12/10/96
MKT241 19936-19966 LEC 2 Credit(s) 2 Period(s)
Retail Buying II
The study and application of control strategies to include stock and sales forecasting, open-to-buy, gross margin analysis and vendor analysis. Integration of a personal computer to simulate a season of buying: plan, control, and analysis of buying decisions. Prerequisites: MKT141 and (a grade of "C" or better in a word processing course or equivalent word processing skills). Corequisites: BPC114AA or departmental approval.
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MCCCD Official Course Competencies:
 
MKT241   19936-19966 Retail Buying II
1. Forecast, calculate and simulate seasonal stock and sales plans manually as well as on the computer. (I-IV)
2. Explain and apply open-to-buy, the primary inventory control device used by retail buyers. (III, IV)
3. Make critical quality/quantity buying decisions through the application of financial merchandising tools including sell-through analysis, gross margin analysis, and vendor analysis. (II, IV, V)
4. Compose analytical reports, utilizing a personal computer, spreadsheetsoftware, and word processing as tools. (II, IV, V)
5. Employ analytical reports as essential tools in negotiating favorable terms with vendors. (VI)
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MCCCD Official Course Outline:
 
MKT241   19936-19966 Retail Buying II
    I. Merchandising Mathematics Review
      II. Seasonal Merchandise Plan
          A. Sales forecasting techniques
          B. Manual composition of plan elements
            1. Sales forecast
            2. Average stock figures
            3. Stock-to-sales ratios
            4. Inventory turn-rate ratios
          C. Review and analysis of elements of past performance
          D. Computerized merchandise plan elements
        III. Open-To-Buy -- Primary Inventory Control Device
            A. Manual forecasting
            B. Computerized forecasting
          IV. Buying Simulation
              A. Past performance of merchandise assortment
                1. Sell-through analysis
                2. Gross margin analysis
                3. Vendor analysis
                4. Turn-rate analysis
              B. Plans for merchandise assortment
              C. Initiation of simulation
              D. Simulation results
              E. Open-to-buy as control device
              F. Post-simulation analysis
                1. Sell-through analysis
                2. Gross margin analysis
                3. Vendor analysis
                4. Turn-rate analysis
            V. Conclusion of the Buying Simulation
                A. End-of-the-Season financial merchandise reports
                B. Effect of decisions made during simulation to results
              VI. Negotiations
                  A. Role of financial merchandise reports
                  B. Conducting win/win negotiations
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