Purchasing in Retail BusinessLaajuus (5 cr)

Objective

The student knows common quantitative and qualitative sales forecasting methods. The student can utilize the sales forecasting methods in practice. The student understand the role of markdowns in the inventory control. The student can plan markdowns in practice. The student knows common inventory planning methods and can utilize common inventory planning methods in practice. The student can plan purchasing using Stock-to-Sales ratio method. The student can calculate sales forecasts, markdowns, inventory levels and purchases using spreadsheet.

Content

- Sales forecasts methods
- Markdowns
- Inventory planning
- Purchase planning
- Stock-to-Sales ratio method

Qualifications

The students have basic skills in marketing. The students can use a spreadsheet, e.g. Microsoft Excel.

Assessment criteria, satisfactory (1)

Assessment is based on knowledge, skills and competence in accordance with the National and European Qualifications Framework, Level 6.
Compared to the targets of the course, the student has
5 (excellent)
o excellent knowledge
o innovative problem-solving skills
an ability to assume responsibility for the organisation as well as for professional tasks and projects
3-4 (good - very good):
o good knowledge
o good skills in solving complex problems
o ability to assume responsibility for the work community and for professional tasks and projects in the field
1-2 (passable -satisfactory):
o satisfactory knowledge
o ability to solve unexpected problems
o ability to assume one's share of responsibility and be responsible for professional tasks and projects
0 (fail)