9780131107342

Math for Merchandising A Step-by-Step Approach

by
  • ISBN13:

    9780131107342

  • ISBN10:

    0131107348

  • Edition: 3rd
  • Format: Paperback
  • Copyright: 6/15/2004
  • Publisher: Prentice Hall

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Summary

This book 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 book 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 readers learn the basics of creating and analyzing six-month plans. The final section of the book introduces math and merchandising concepts that are typically used at the corporate level.For individuals pursuing a career in merchandising.

Table of Contents

UNIT ONE Facts and Fundamentals About the Tools of the Trade
1(52)
A Look at Who, Why, What, and How!
3(8)
Who Really Needs Merchandising Math Skills? Everyone!
3(1)
That's Right: Why?
3(1)
What You Need to Know
4(1)
How You Will Learn
5(3)
So, Where Do You Start?
8(3)
Getting Comfortable with Numbers
11(26)
Using Percents
11(1)
Basic Math Skills
12(6)
Fractions and Decimals
12(2)
Dozens
14(2)
Rounding
16(1)
Working with Percents
17(1)
Helpful Hints
18(4)
Summary
22(3)
Applying Percents to Merchandising Concepts
25(8)
Using Percents to Analyze, Compare, and Set Direction
33(4)
Tracking Key Concepts
37(16)
UNIT TWO Purchasing and Pricing
53(102)
Buying for Profits
55(30)
Negotiating
55(30)
Terms and Conditions
55(1)
Step 1: Negotiating Price of the Product
55(1)
Step 2: Negotiating Dating and Payment Terms
56(1)
Step 3: Negotiating Shipping Terms
56(1)
Step 1: Negotiating Price of the Product
56(3)
List Price
59(1)
Series Discounts
60(1)
Step 2: Negotiating Dating and Payment Terms
61(3)
Step 3: Negotiating Shipping Terms
64(7)
Forms
71(1)
Purchase Orders
72(4)
Invoices
76(2)
Return-to-Vendor Forms
78(7)
The First Price: Individual and Initial Markup
85(32)
Principles of Markup
85(7)
Formulas and T-Chart Grids
89(1)
Finding the Specific Dollar Amounts
90(2)
Finding Percents
92(3)
Finding Total Dollar Amounts
95(22)
Finding Total Dollar Amounts
97(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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