Authorised by Academic Registrar, April 1996
Objectives On completion of this subject students should be able to define the role and scope of the buying function in different types of retail organisations and how this has changed over time; develop and implement merchandise financial and assortment plans based on financial and marketing concepts; manage and control a range of merchandise to achieve optimum productivity and profitability by applying financial, statistical and marketing principles and measures.
Synopsis Merchandise planning and budgeting, including concepts of merchandise classification, open-to-buy and assortment planning, stock replenishment and retail inventory control; pricing and repricing; sourcing; selection and negotiation; productivity analysis; profit performance and information needs.
Assessment Turorial: 10% + Minor assignments (2500 words): 25% + Major assignments (3500 words): 30% + Examination (3 hours): 35%