Fast Track Retail Buying and Merchandising

The essentials of merchandise management, range planning and many more
4.2 (23 ratings) Instead of using a simple lifetime average, Udemy calculates a
course's star rating by considering a number of different factors
such as the number of ratings, the age of ratings, and the
likelihood of fraudulent ratings.
247 students enrolled
$19
$65
71% off
Take This Course
  • Lectures 46
  • Length 3.5 hours
  • Skill Level Beginner Level
  • Languages English
  • Includes Lifetime access
    30 day money back guarantee!
    Available on iOS and Android
    Certificate of Completion
Wishlisted Wishlist

How taking a course works

Discover

Find online courses made by experts from around the world.

Learn

Take your courses with you and learn anywhere, anytime.

Master

Learn and practice real-world skills and achieve your goals.

About This Course

Published 8/2015 English

Course Description

Retail buying and merchandising is a very exciting field that looks at how retail enterprises go about 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.

However, it isn't an easy topic to get your head around and that's largely due to the fact that the subject matter is littered with specialised terminology, concepts, jargon, acronyms, etc. For individuals who are new to the field it can be quite daunting to understand what these concepts mean, let alone getting a full picture of how everything ties in together to realise the complex clockwork of the buying and merchandising cycle.

This course in retail buying and merchandising is quite special - special in the sense that it isn't your regular textbook or mishmash of explanations and it doesn't make assumptions on prior knowledge. This means that you'll be able to connect with the concepts regardless of your educational or professional background.

Furthermore, the course decomposes the topic into a number of fundamental but interrelated perspectives that describe the subject matter in a logical way. These perspectives define the course structure and also allow the discussion of useful examples taking into account the real-life industry aspects.

The course comprises of a range of audio-visual lectures with exercises towards the end of each relevant section to test your understanding of the topic.

So, are you ready to go from newcomer to all-rounder in retail buying and merchandising? You've stopped at the right course that's going to fast track your learning in record time!

What are the requirements?

  • Computer with internet connection
  • Equipment for taking notes (e.g. pen and paper)

What am I going to get from this course?

  • Understand how the field of buying and merchandising works
  • Obtain an all-round picture of the topic from a practical perspective
  • Understand concepts, jargon and acronyms
  • Decide whether you want to pursue a career in buying and merchandising
  • Build a solid foundation for more in-depth courses in the subject matter
  • Understand basic metrics and how to set up spreadsheets for analysing data

What is the target audience?

  • Anyone who is new to the area of buying and merchandising
  • Students and professionals with an interest in buying and merchandising
  • Jobseekers preparing their next interview for a related role
  • This course does not cover advanced principles and also does not deal with in-depth Excel for retail

What you get with this course?

Not for you? No problem.
30 day money back guarantee.

Forever yours.
Lifetime access.

Learn on the go.
Desktop, iOS and Android.

Get rewarded.
Certificate of completion.

Curriculum

Section 1: Introduction
04:19

Hello and welcome to this course! This is the very first lecture in this series. In this lesson we'll set the context of the topic and tell you some of the drivers that led me to design the course, bearing in mind the intended audience.

02:13

This lecture covers the learning outcomes for the course. It clarifies the target audience and discusses what you'll achieve on completion of the course.

06:03

In this lecture, you'll get a bird's eye view of what retail buying and merchandising, as subject matter, is made up of. We'll be looking at the core perspectives to view and describe the subject matter.

05:19

The course structure is largely based on the bird's eye view of the core perspectives in buying and merchandising. This lesson goes into more detail of how these core perspectives translate into the course structure, in order to make sure you get the most out of the teaching content.

Article

This is the concluding lecture for Section 1, where we'll wrap up everything you've learnt in this section.

Section 2: Product perspective
05:27

The product is at the centre of the buying and merchandising business. In this introductory lesson to this section, we'll set the scene for the product perspective.

07:59

The product life cycle is a very important viewpoint to consider when thinking about a product. This lesson discusses the product life cycle.

06:47

At the beginning of the product life cycle, there's an important practice known as new product development. This is concerned with researching, designing and selling products in order to make market breakthroughs. In this lecture, we'll be discussing the "one-size-fits-all" idea of new product development.

07:25

By grouping products in specific ways, we are able to plan product management more efficiently. This lesson explains how products need to be grouped to make sense to buying and merchandising in the retail sector.

04:53

This is a continuation of the previous lecture on product groupings.

Article

This is the concluding lecture for Section 2, where we'll wrap up everything you've learnt in this section.

8 questions

Test yourself on the concepts you've learnt in the product perspective. Remember, sometimes you'll need to think outside the box!

Section 3: Supply chain perspective
03:46

This is the introductory lesson to this section, where we'll set the scene for the supply chain perspective.

06:32

The sourcing model is a very common supply chain configuration used by many retail companies who source their own products with their own branding. In this lecture, we'll look at who the participants in the model are, but more generally what happens in the sourcing model.

08:49

This is a continuation of the previous lecture on the sourcing model.

03:06

In this lecture, we'll explain the workings of the full service model. This supply chain configuration is used for when you want to buy and sell third party products.

09:04

This lecture explains some miscellaneous concepts relevant to buying and merchandising like the critical path, the dynamics of stock (a.k.a. inventory), and a few others.

Article

This is the concluding lecture for Section 3, where we'll wrap up everything you've learnt in this section.

8 questions

Test yourself on the concepts you've learnt in the supply chain perspective. Remember, sometimes you'll need to think outside the box!

Section 4: People perspective
04:56

This is the introductory lesson to this section, where we'll set the scene for the people perspective.

04:54

This lecture identifies the primary teams of people who collaborate with one another to enable the buying and merchandising enterprise to come to life.

06:12

The organizational structure of buying and merchandising businesses varies from company to company. In this lecture, we'll explore a few concrete examples of organizational structures.

08:02

Roles and responsibilities are assigned at all levels of the organizational structure. In this lecture we'll consider the structure and describe the responsibilities held by the individuals operating within that structure.

03:10

In this lesson we'll explain the collective qualities and attributes of successful buyers, assistant buyers and buying admin assistants.

03:08

In this lesson we'll explain the collective qualities and attributes of successful merchandisers, assistant merchandisers and allocators.

Article

This is the concluding lecture for Section 4, where we'll wrap up everything you've learnt in this section.

8 questions

Test yourself on the concepts you've learnt in the people perspective. Remember, sometimes you'll need to think outside the box!

Section 5: Process perspective
07:49

This is the introductory lesson to this section, where we'll set the scene for the process perspective.

08:31

In this lesson, we'll bring together the various perspectives we've explored and explain how things work in terms of a timeline. We'll be calling that our "merchandise management roadmap".

05:40

This is a continuation of the previous lecture on the merchandise management roadmap.

02:01

This lecture covers the details of buying strategy planning.

04:56

This lecture covers the details of range planning a.k.a. assortment planning.

06:14

In this lesson, we'll use our knowledge of new product development and explain in more detail how the business process of product development is implemented.

04:56

Budget management in buying and merchandising breaks down into finer business processes, the main ones being sales forecasting and planning for Open-to-Buy (OTB), which we'll discuss in this lecture.

03:50

This lecture explains how stock (inventory) management is implemented in the buying and merchandising business.

04:07

Having a strategy for the correct pricing of products is highly important in retail. This lecture looks at the business process of planning the pricing architecture and the key considerations to bear in mind.

Article

This is the concluding lecture for Section 5, where we'll wrap up everything you've learnt in this section.

8 questions

Test yourself on the concepts you've learnt in the process perspective. Remember, sometimes you'll need to think outside the box!

Section 6: Technology perspective
04:13

This is the introductory lesson to this section, where we'll set the scene for the technology perspective.

04:01

In this lecture, we'll explain the implications of some key enterprise systems you are very likely to encounter in buying and merchandising.

06:49

When you work in buying and merchandising you'll be working with data reports. In this lesson, we'll explore how a typical data architecture is set up for you to be able to pull data to create these reports.

Article

This is the concluding lecture for Section 6, where we'll wrap up everything you've learnt in this section.

5 questions

Test yourself on the concepts you've learnt in the technology perspective. Remember, sometimes you'll need to think outside the box!

Section 7: Numerical and reporting perspective
01:39

This is the introductory lesson to this section, where we'll set the scene for the numerical and reporting perspective.

06:21

In this lecture, we'll go through some of the basic metrics used in merchandise planning like how to calculate margins, understand stock performance, etc.

02:23

This lecture explains an example of a simple critical path tracker and the core types of information that feed into the tracker.

04:19

This lecture explains an example of a simple WSSI and the core types of information that feed into the report.

Article

This is the concluding lecture for Section 7, where we'll wrap up everything you've learnt in this section.

8 questions

Test yourself on the concepts you've learnt in the numerical and reporting perspective. Remember, sometimes you'll need to think outside the box!

Section 8: Conclusion
04:36

There are several ongoing challenges and obstacles faced by retail companies as well as individuals who work in buying and merchandising. In this lecture, we'll discuss and reflect on some of these challenges.

02:28

This is the last lecture in this series, where we'll wrap up the course.

Article

Attributions and special thanks to friends and family, etc.

Students Who Viewed This Course Also Viewed

  • Loading
  • Loading
  • Loading

Instructor Biography

Dr. Tish Chungoora, Knowledge Modelling Specialist

Family and friends have always told me that I could be good at teaching, so I thought "okay, let's put that to the test!" We've now stepped into an age of digital knowledge revolution and, indeed, I wouldn't want to miss out that big party! Contributing to knowledge sharing is an awesome achievement because knowledge is a powerful asset that stands the test of time.

Seeing a student sign up for my course is a great honour and for those of you who've registered, I'd like to thank you so much for doing so. It's a real privilege to have you join me in what I hope you'll find an enjoyable learning experience.

What makes me tick...

"A passion for understanding how things work and teach how things work"

My background and experience in a nutshell…

I graduated in Product Design Engineering from Loughborough University, UK. I then stepped into the world of research where I did a PhD in the area of applied ontology. This opened a whole new range of doors to explore. I've worked across different industries which include both academia and leading technology companies. My skills cut across multiple disciplines such as engineering, technical publications, product management, knowledge management, and business analysis, among others. My teaching experience has involved training and mentoring individuals working in the area of knowledge sharing. I also have considerable exposure in training staff on enterprise systems for information and knowledge management.

What I do in my spare time…

I really enjoy the company of family and friends, as well as playing the guitar and attending gigs. I'm also well into running and taking long walks with my incredibly supportive wife, Luisa. On a quiet weekend, you'll find me chilling on the settee watching action and science fiction movies or, otherwise, in the kitchen making sushi or some other mouth-wateringly good dish.

Ready to start learning?
Take This Course