programme

Buying & Merchandising Management

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Course TypeCourse CodeNo. Of Credits
Foundation CoreSVS1RM5014

Semester and Year Offered: 5th Semester (Monsoon Semester 2019)

Course Coordinator and Team: Nikhil Charak and External Experts

Email of course coordinator: nikhil@aud.ac.in

Pre-requisites: The course focuses on the Job Role related to Store Manager (Level-7) in a retail store as per the guidelines of National Skill Qualification Framework (NSQF). The course is meant to be offered to those who have specific knowledge and skills related to Sales Associate (Level-4) & Team Leaders (Level-5) and Department Manager (Level-6) offered in 1st and 2nd year respectively.

Aim: This course will enable student to gain the knowledge about the Buying and Merchandising management in organized retail industry. It also familiarizes the students about the concept of category management, sales forecasting, assortment planning and pricing.

Course Outcomes:

On completion of the course, the students will be able to:-

  • Analyse and explain the concept of buying and merchandising management
  • Manage customer relationship
  • Prepare stacks as per the pre-approved categories of the concern retail store
  • Plan items to be placed for sales, its forecasting process and assortment
  • Develop manpower planning for the retail store
  • Prepare the list for procurement of merchandise
  • Plan to keep a healthy, safe and hygienic retail store

Brief description of modules/ Main modules:

Module 1: Introduction to Buying and Merchandising The module will address different Buying and Merchandising issues and Challenges as well as best practices from organized and unorganized retail sector. It will further help students to learn about the planning the buying and selling of the right products, at the right place, right time, in the correct quantities, to the correct customer and at the correct price.

Module-2 Category Management The Course will explain about the category management and the range of products purchased by a business organization or sold by a retailer.

Module-3 Sales Forecasting and Assortment Planning The module will describe the retailer's way of forecasting demand for products in a category (including those that they have never carried before), optimizing the selected assortment, and customizing the assortment by store to maximize chain-wide revenues or profits.

Module 4 Retail Pricing The module will explore about the determinants for retail pricing strategy to use in determining the right price for the products that must consider the product's direct costs and other related expenses.

Assessment Details with weights:

S.No.

Assessment

Period of Assessment

Weightage

1.

Project

Within 1st Month of the course

20%

 

2.

Written Asignment

Within 2nd Month of the course

 

            20%

 

3.

Simulation

All through the semester

             20%

4.

End Semester Exam

Within 3rd Month of the course

30%

5.

Class Participation

All through the semester

10%

Total

                                                                                                                                                100%

 

Reading List:

  1. Michael Levy Barton Weitz Ajay Pandit, Retail Management Mcgraw Hill education (India) Edition 2012 (pp 431- 461)
  2. Bajaj,C, Tuli,R & Srivastava,V (2016). Retail Management pp 234-256
  3. Barry, B. (2018). Retail management: a strategic approach. Pearson Education India.pp-438-441
  4. Sales & Distribution Mgmt - Text & Cases by Havaldar (pp-282-340, Havaldar Krishna K &Cavale 2011)
  5. Barry, B. (2018). Retail management: a strategic approach. Pearson Education India.pp-505-533
  6. Retail product management: Buying and merchandisingRose Mary Varley, Routledge, 2006 (pp 94- 124Varley, 2006)