The Buyer's & Merchandiser's Guide to Retail

Students will gain an understanding of the retail purchasing cycle, including POs, ASNs, and EDI to grasp how each step contributes to merchandise acquisition.

Students will walk through the processes of assortment planning, allocation & replenishment, including the inputs to each, with the goal of improving product availability, which is crucial for meeting customer expectations and driving sales, particularly during peak shopping seasons.

The instructor reviews the calculation of Gross Margin & Open To Buy, which are critical metrics for buyers and are foundational to this course.  Students will gain a conceptual understanding of what the numbers represent, rather than memorizing formulas.

Students will grasp how supply chains operate, including the key components, terminology and processes involved from sourcing to final delivery or merchandise.  Colorful illustrations will help the discussion.

Students will understand what constitutes value-added services within the supply chain, such as customized packaging, tagging, product assembly, testing, and quality inspections, and how these can enhance customer satisfaction.

Students, many of whom are buyers or merchandisers, will learn what technologies leading retailers are providing to their buyers and merchandisers to help them be more effective in market.  The review might spark ideas that students can bring back to their companies.

After completing this lecture, students will gain insights into technology trends that are elevating and personalizing the shopping experience.  This will provide students with ideas that they can evaluate in the context of their own retail environment.

This lecture removes the mystery and anxiety surrounding artificial intelligence "AI".  Students will receive an explanation of the technology's capabilities in layman's terms, along with numerous examples of how retailers are embracing AI to drive sales and customer service.

This lecture walks students through an overview of the art & science of visual merchandising & store layouts.  Real-life examples from leading retailers are reviewed to help reinforce the concepts.  This lecture ties in nicely to Lecture # 9 on customer facing technology.

The instructor uses his own experience implementing a large loyalty program redesign to teach students about the benefits of and various types of loyalty programs.

This lecture takes students outside the world of brick-and-mortar stores and into the exciting and challenging realm of e-commerce.  The instructor puts students into the minds of buyers & merchandisers and reviews their concerns and opportunities with this selling channel.

The instructor demystifies omni-channel retail, using real-life examples and a technique called "customer journeys".  Then the students are challenged to put themselves into the shoes of buyers & merchandisers and view the opportunities that omni-channel holds.

A sincere thank you to students & a recap of all the course concepts.  A request for students to provide feedback if there are additional courses they would like to see from this instructor.  Also note, there is a glossary and additional review questions attached to this lecture in PDF format.