Rent 9780131107342 | Math for Merchandising : A Step-by-Step Approach

Summary Table of Contents

Merchandising Math: A Step-by Step Approach, Third Edition, takes users step by step through the concepts of merchandising math. It is organized so that the chapters parallel a career path in the merchandising industry. The text begins with coverage of fundamental math concepts used in merchandising and progresses through the forms and math skills needed to buy, price, and re-price merchandise. Next students learn the basics of creating and analyzing six-month plans. The final section of the text introduces math and merchandising concepts that ... MORE

UNIT ONE Facts and Fundamentals About the Tools of the Trade

(52)

A Look at Who, Why, What, and How!

(8)

Who Really Ne... MORE

(1)

That's Right: Why?

(1)

What You Need to Know

(1)

How You Will Learn

(3)

So, Where Do You Start?

(3)

Getting Comfortable with Numbers

(26)

Using Percents

(1)

Basic Math Skills

(6)

Fractions and Decimals

(2)

Dozens

(2)

Rounding

(1)

Working with Percents

(1)

Helpful Hints

(4)

Summary

(3)

Applying Percents to Merchandising Concepts

(8)

Using Percents to Analyze, Compare, and Set Direction

(4)

Tracking Key Concepts

(16)

UNIT TWO Purchasing and Pricing

(102)

Buying for Profits

(30)

Negotiating

(30)

Terms and Conditions

(1)

Step 1: Negotiating Price of the Product

(1)

Step 2: Negotiating Dating and Payment Terms

(1)

Step 3: Negotiating Shipping Terms

(1)

Step 1: Negotiating Price of the Product

(3)

List Price

(1)

Series Discounts

(1)

Step 2: Negotiating Dating and Payment Terms

(3)

Step 3: Negotiating Shipping Terms

(7)

Forms

(1)

Purchase Orders

(4)

Invoices

(2)

Return-to-Vendor Forms

(7)

The First Price: Individual and Initial Markup

(32)

Principles of Markup

(7)

Formulas and T-Chart Grids

(1)

Finding the Specific Dollar Amounts

(2)

Finding Percents

(3)

Finding Total Dollar Amounts

(22)

Finding Total Dollar Amounts

(20)

Markups to Sell: Average, Cumulative, and Maintained Markup

117

(22)

Average Markup

118

(5)

Cumulative Markup

123

(3)

Maintained Markup

126

(13)

Markdowns Make It Move

139

(16)

When and How?

140

(1)

Traditional Markdown

141

(1)

Promotional Discount Markdown Reductions

142

(1)

Other Discounts

143

(6)

Merchandise Planning

149

(6)

UNIT THREE The Planning Process

155

(70)

Fundamentals of a Six-Month Merchandising Plan

157

(10)

Purpose of a Six-Month Plan

157

(1)

A Note about Gross Margin

158

(4)

Elements of a Six-Month Plan

162

(5)

Analyzing Last Year's Six-Month Merchandising Plan

167

(18)

Step 1: Analyze Sales

167

(1)

Step 2: Evaluate Stock

168

(1)

Step 3: Evaluate Markdowns

168

(1)

Step 4: Evaluate Purchases at Retail

169

(1)

Step 5: Evaluate Purchases at Cost

169

(1)

Step 6: Measure Average Stock and Turnover

169

(1)

Using a Six-Month Plan

170

(15)

Analysis and Interpretation

172

(13)

Changing a Six-Month Plan Using Historical Data

185

(20)

Step 1: Analyze the Given Information

185

(1)

Step 2: Determine Sales

186

(1)

Step 3: Figure Out the Stock Data

186

(1)

Step 4: Calculate Markdowns

186

(1)

Step 5: Determine Planned Purchases

187

(1)

Step 6: Measure Average Stock and Turnover

187

(1)

Changing a Six-Month Plan

188

(17)

Step 1: Analyze the Given Information

188

(1)

Step 2: Determine Sales

189

(1)

Step 3: Figure Out the Stock Data

189

(1)

Step 4: Calculate Markdowns

189

(2)

Step 5: Determine Planned Purchases

191

(1)

Step 6: Measure Average Stock and Turnover

191

(14)

Developing New Six-Month Merchandising Plans

205

(20)

Step 1: Analyze the Given Information

205

(1)

Step 2: Determine Sales

206

(1)

Step 3: Figure Out the Stock Data

206

(1)

Step 4: Calculate Markdowns

207

(1)

Step 5: Plan Monthly Purchases

208

(1)

Developing a Six-Month Plan

208

(17)

Step 1: Analyze the Given Information

208

(1)

Step 2: Determine Sales

209

(1)

Step 3: Figure out the Stock Data

209

(1)

Step 4: Calculate Markdowns

210

(1)

Step 5: Plan Monthly Purchases at Retail and Cost

211

(14)

UNIT FOUR Balance Brings Profits

225

(50)

Controlling the Flow: Calculating Open to Buy

227

(8)

Open to Buy

227

(1)

Determining Open to Buy

228

(7)

Building Balance: Classification Planning

235

(16)

First Steps in Building a Model Stock Through Classification Planning

237

(1)

Next Steps for Building a Model Stock Through Classification Planning

237

(1)

Elements of a Typical Classification Plan

237

(1)

A Specific Example

238

(13)

Designing Today: Cost Sheets and Pricing

251

(24)

Fashion Trends

253

(2)

Cost Sheets

255

(5)

Calculating Markup

260

(3)

Store Markup

261

(2)

Costing and Pricing: Wholesale versus Private Label

263

(12)

UNIT FIVE Measuring the Results

275

(32)

Make the Most Out of Your Space: Sales Per Square Foot

277

(8)

Sales Per Square Foot

277

(8)

The P&L Is the One That Counts: Operating Statements

285

(22)

Purpose of an Operating Statement

285

(3)

Format of Operating Statements

288

(5)

Determining Net Cost

293

(12)

Workbook Aids

305

(2)

APPENDIX 1 How to Use Your Calculator

307

(4)

Using Your Calculator

307

(1)

Common Operating Keys for a Basic Calculator

308

(1)

Basic Keys

308

(1)

Decimal Point

308

(1)

Percent Key

308

(3)

APPENDIX 2 Basic Business Formulas

311

(2)

Helpful Hints

311

(1)

Basic Markup Formulas

311

(1)

Analyzing and Evaluating Six-Month Merchandising Plans

312

(1)

Developing a Six-Month Merchandising Plan

312

(1)

Profitability

312

(1)

Cost of Goods to be Sold (CGS)

312

(1)

APPENDIX 3 Answers to Odd-Numbered Problems

313

(36)

Index

349

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Math for Merchandising : A Step-by-Step Approach

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