Fast Track Retail Buying and Merchandising
4.6 (71 ratings)
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Fast Track Retail Buying and Merchandising

The essentials of merchandise management, buying, range planning, product development and many more
Bestselling
4.6 (71 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.
479 students enrolled
Last updated 8/2017
English
Current price: $10 Original price: $75 Discount: 87% off
5 hours left at this price!
30-Day Money-Back Guarantee
Includes:
  • 3.5 hours on-demand video
  • 9 Articles
  • 5 Supplemental Resources
  • Full lifetime access
  • Access on mobile and TV
  • Assignments
  • Certificate of Completion
What Will I Learn?
  • 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
View Curriculum
Requirements
  • There are no prerequisites for this 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!

Who 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
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Curriculum For This Course
47 Lectures
03:35:32
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Introduction
5 Lectures 19:15

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.

Preview 04:16

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.

Preview 02:19

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.

Buying and merchandising in a nutshell
06:07

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.

Preview 05:25

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

Conclusion
01:08
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Product perspective
6 Lectures 35:13

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.

Overview
05:34

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

The product life cycle
08:03

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.

New product development
06:54

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.

Product groupings: Part 1
07:34

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

Product groupings: Part 2
05:00

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

Conclusion
02:08

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

Product perspective
8 questions
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Supply chain perspective
6 Lectures 33:45

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

Overview
03:54

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.

Sourcing model: Part 1
06:40

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

Sourcing model: Part 2
08:58

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.

Full service model
03:17

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.

Critical path, inventory and more
09:09

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

Conclusion
01:47

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

Supply chain perspective
8 questions
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People perspective
7 Lectures 33:25

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

Overview
05:01

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

Internal collaboration
05:31

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.

Organizational structure
06:10

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.

Roles and responsibilities
08:08

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

[Audio] The buyer profile
03:10

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

[Audio] The merchandiser profile
03:08

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

Conclusion
02:17

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

People perspective
8 questions
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Process perspective
10 Lectures 52:03

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

Overview
07:59

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".

Merchandise management roadmap: Part 1
08:36

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

Merchandise management roadmap: Part 2
05:43

This lecture covers the details of buying strategy planning.

Planning the buying strategy
02:09

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

Range planning
04:58

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.

Product development
06:21

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.

[Audio] Sales forecasting and OTB planning
05:02

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

Stock management
03:56

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.

[Audio] Planning the pricing architecture
04:11

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

Conclusion
03:08

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

Process perspective
8 questions
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Technology perspective
4 Lectures 17:51

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

Overview
04:21

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

Enterprise systems
04:04

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.

Data architecture
06:52

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

Conclusion
02:34

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

Technology perspective
5 questions
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Numerical and reporting perspective
5 Lectures 15:55

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

Overview
01:45

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.

Basic metrics used in merchandise planning
06:24

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

Example: Critical path tracker
02:25

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

Example: WSSI
04:24

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

Conclusion
00:57

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

Numerical and reporting perspective
8 questions
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Conclusion
4 Lectures 07:37

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.

[Audio] Challenges in retail buying and merchandising
04:37

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

Final words
02:33

Additional assets available for downloading.

[Bonus] Downloads
00:01

Attributions and special thanks to friends and family, etc.

Acknowledgements and more
00:25
About the Instructor
Dr. Tish Chungoora
4.3 Average rating
250 Reviews
3,451 Students
6 Courses
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'm a seasoned technology professional with a wealth of experience in business analysis, product management, information & knowledge management, technical publications and applied ontology. I've served in key roles for high-technology enterprises and I'm an expert in the field of knowledge modelling. My innovative works in the area of knowledge modelling, system interoperability and manufacturing engineering have featured in over a dozen articles published in leading journals and conferences. I have a Ph.D. in Applied Ontology and graduated with distinction in Product Design Engineering.

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.