Course

Course Summary

Credit Type:

Course

ACE ID:

ICS-0213

Organization's ID:

BUS 310

Organization:

Penn Foster College

Location:

Online

Length:

52 weeks

Dates Offered:

Credit Recommendation & Competencies

Level	Credits (SH)	Subject
Lower-Division Baccalaureate	3	Introduction to Retail Management, Purchasing, or Merchandising

Description

Objective:

The course objective is to teach the methods, practices, and operations conducted to promote and sustain certain categories of commercial activity; principles and procedures used in planning, selecting, pricing, and selling goods in retail stores; domestic and foreign market purchasing; assessing product needs. Students will learn merchandising systems, assortment plans, and inventory control methods.

Learning Outcomes:

Define the role of the buyer in the retail operation of department stores, chain operations, discount stores, and franchises
Discuss the resources buyers use in resident buying office (RBO), with regard to vendors, wholesalers, advertising agencies, trade publications, and sales histories
Define the relationship of the buyer to the general merchandising manager, department or division merchandising managers, and sales associates
Design a model inventory
Explain and calculate the open-to-buy budget
Describe purchasing and payment alternatives
Describe consignment buying and off-price buying.
Discuss the concepts of prompt payment, anticipation discounts, trade discounts, quantity discounts, and seasonal discounts
Explain the concept of advertising allowances