PGM213 Merchandising & Invent Mgmt

Lead Faculty: Dr. Michael Mcanear

Course Description

A 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.

Learning Outcomes

  • 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.