Publisher's Synopsis
In A Buyer's Guide to Retail Mathematics, you will learn the retail math skills needed to be a retail buyer, planner, or store line retailer. This includes the basic formulas that a buyer uses every day and how the formulas work together to maximize profitability. The book begins with the components buyers use for achieving gross margin and profit, followed by how pricing affects the profitability, the inventory amounts necessary for buyers to achieve their planned sales, and the six-month planning process. A description of the buyer's job explains the variety of tasks a buyer is responsible for, including analyzing reports, working with vendors, the buying process, visualizing the presentation, competitive shopping, and more, to show you how critical the job is to a retailer.
The text has real-life mathematical examples for various retail channels: department stores, off-price retailers, mass-market retailers, fast-fashion retailers, and more. Interviews in every chapter with buyers in the industry highlight situations faced within the industry. Math problems reflect the retailing skills you will need for retailers' executive training programs. Case studies cover current industry issues and develop the critical thinking skills you will use as a buyer.
STUDIO Features:
-Excel Spreadsheet math problems for further practice problems
-A selection of Self-Assessment Questions to test yourself on key concepts
-A digital deck of Flashcards to review key terms and formulas
Instructor's Resources
-An Answer Manual of the math problems showing step-by-step solutions
-PowerPoint Presentations for each chapter
-A Test Bank offering exams for each chapter
