About This Chapter
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
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.
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.
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.
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.
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.
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.
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.
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.
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.
Earning College Credit
Did you know… We have over 200 college courses that prepare you to earn credit by exam that is accepted by over 1,500 colleges and universities. You can test out of the first two years of college and save thousands off your degree. Anyone can earn credit-by-exam regardless of age or education level.
To learn more, visit our Earning Credit Page
Transferring credit to the school of your choice
Not sure what college you want to attend yet? Study.com has thousands of articles about every imaginable degree, area of study and career path that can help you find the school that's right for you.
Other chapters within the Business 203: Introduction to Retail Merchandising course