Ch 6: Retail Merchandise Planning Process

About This Chapter

Improve your retail merchandise planning knowledge with this useful study guide chapter. These simple lessons and quizzes can benefit anyone who needs to review the retail merchandise planning process for exams, homework assignments or work.

Retail Merchandise Planning Process - Chapter Summary

There are many components involved in the retail merchandise planning process. This chapter breaks down all of these components, and it helps you fully understand concepts such as inventory control systems, inventory management, supply chain management, vendor analysis and retail performance evaluation. You can retain your knowledge by taking the included lesson quizzes and chapter exam. For your convenience, we've made these resources available 24/7 and accessible on any computer or mobile device. Upon completion of the chapter, you should be able to:

  • Outline the overall merchandise planning process
  • Describe the evaluation of retail performance
  • Assess various retail assortment planning considerations
  • Identify the goals of supply chain management
  • Summarize the process of vendor analysis
  • Define the term inventory
  • Recognize merchandise inventory items
  • Describe the relationship between demand and cost in inventory management
  • Compare types of inventory control systems

9 Lessons in Chapter 6: Retail Merchandise Planning Process
Test your knowledge with a 30-question chapter practice test
What is Merchandise Planning? - Definition & Process

1. What is Merchandise Planning? - Definition & Process

What is a merchandise plan, how does it fit into the overall business plan, and what are the steps to create it? This lesson explains merchandise planning and shows how teachers can use this information in educating students.

Evaluating Retail Performance: ROA & GMROI

2. Evaluating Retail Performance: ROA & GMROI

This lesson goes over the fundamental concepts behind return on assets and gross margin return on inventory investment. You'll learn what these help us judge and see how to calculate them as well.

Retail Assortment Plan: Definition & Considerations

3. Retail Assortment Plan: Definition & Considerations

In this lesson we learn about the elements of an assortment plan - retail strategy, GMROI, complementary merchandise, assortment and variety, and the six P's of retail planning.

Supply Chain Management: Elements & Goals

4. Supply Chain Management: Elements & Goals

Supply chains and their efficient management may mean the difference between success and failure for a business. In this lesson, you'll learn about the elements of the supply chain and the key goals businesses seek in managing their supply chains.

Vendor Analysis: Definition & Process

5. Vendor Analysis: Definition & Process

Vendors play a major role in a firm's performance. Firms use vendor analysis to select the right vendors for their organization. In this lesson, learn what vendor analysis is and how it is used.

What Is Inventory? - Definition & Example

6. What Is Inventory? - Definition & Example

Most businesses carry some inventory. In this lesson, you'll learn about what inventory is, some related concepts and be provided examples along the way. A short quiz follows the lesson.

Items that Make Up Merchandise Inventory

7. Items that Make Up Merchandise Inventory

In order to operate, merchandising companies must carry inventory. What exactly makes up merchandise inventory? In this lesson, you will not only learn the answer to that question, but also several other important factors that relate to merchandise inventory.

What Is Inventory Management? - Demand vs. Cost

8. What Is Inventory Management? - Demand vs. Cost

Inventory management is about making sure that there is enough product to meet the demand of the customers. But, what exactly is involved in inventory management? Watch this video lesson to find out.

Inventory Control Systems: Types & Purpose

9. Inventory Control Systems: Types & Purpose

Managing inventory is essential for the success of many businesses. In this lesson, you'll learn about different types of inventory control systems. We'll take a look at continuous and periodic systems as well as the ABC classification system.

Chapter Practice Exam
Test your knowledge of this chapter with a 30 question practice chapter exam.
Not Taken
Practice Final Exam
Test your knowledge of the entire course with a 50 question practice final exam.
Not Taken

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