PGM213 Merchandising & Invent Mgmt
Lead Faculty: Dr. Michael Mcanear
Course DescriptionA survey of basic accounting, marketing, and inventory management theory. The course includes an analysis of an open-to-buy plan, the value of inventory management systems, successful marketing and pricing strategies, and the importance of merchandising benchmarks to evaluate financial performance.
- Describe and explain the value of merchandising and inventory management systems.
- Design an open-to-buy plan for a business.
- Critically evaluate marketing and pricing strategies.
- Discuss the importance of ordering and receiving procedures.
- Evaluate Point of Service systems and other software and technology to assist with inventory management.
- Evaluate the importance of cost of good sold, gross margin, inventory turnover rate, merchandise dollars per round, and gross margin return on investment.