MKF3501

Buying for retail markets

Mr Michael Morrison

6 points · One 3-hour class on-campus and by distance education · Second semester (Caulfield)

Objectives At the completion of this subject students will be able to identify different retail buying structures and explain their role; explain internal and external influences on planning for buying; describe formal and informal buying planning processes and the benefits of each; outline the impact of stock management on the retail business; explain the issues associated with assortment planning and pricing; explain links in the supply chain and the role of relationships with suppliers on ordering and receiving stock; outline the buyer's role in communication and promoting the merchandise; explain issues relating to analysing merchandise performance.

Synopsis The subject includes planning for buying merchandise for different retail markets including emerging retail formats catering for new consumer buying preferences, the different merchandise categories, such as food and apparel, and developing retail services such as direct marketing and niches such as specialty goods, etc., the influence of developing technologies on the merchandise planning process, the supply chain and the buying process, merchandise planning as a component of the retail strategic planning process, sourcing merchandise and negotiation practices, stock management principles and practices in relation to just in time practice, stock keeping unit performance measures and profitability analysis.

Assessment Assignments (6000 words): 60% · Examination (3 hours): 40%

Prescribed texts

Diamond J and Pintel G Retail buying 5th edn, Prentice-Hall, 1997

Back to the 1999 Business and Economics Handbook