Creating A Retail Merchandise Plan
Once you have viewed our lesson on Basic Math Concepts for Retail Buying and our lesson on Understanding Retail Profit and Loss you are ready to create a retail merchandise plan.
You will learn about how to plan sales and your stock and what stock turnover means to the success of your retail business. By using actual examples you will learn all about Stock to Sales Ratio as a method of planning your inventory. You will also learn how to calculate Gross Margin Return on Inventory Investment or GMROII and your Open-To-Buy or OTB.
|2||Planning Stocks & Stock Turnover||1-5|
|3||Calculating GMROII and OTB||1-3|
|4||Planning the Assortment||1-2|