Academics

Retail Buying & Planning

As the field of retail buying and planning continues to evolve in this ever complex world both domestically and internationally LIM College has developed a new track in the Fashion Merchandising degree program.  The track has been established to address an important need and to prepare students for real world opportunities in the field of retail buying and planning.  Buying and Planning are central to a retail operation.  The Buyer’s buy the right product for their consumer, negotiate with vendors and work with stores to portray their vision of the product.  Planners are the “numbers” people.  They work closely with Buyers in order to plan sales and inventory.  Both positions are management positions and lead to more senior management positions for a retail corporation whether it is apparel, accessories, food or home.

Courses in the Retail Buying & Planning Track

Omni-channel Retailing

This course will delve into how retailers operate in an omni-channel retail environment. The focus will be on how retailers create a one message to the consumer seamless shopping experience through the use of various channels, including the internet, tablet, social and mobile commerce. Students will explore how retailers using 2 or more methods of communicating to the customer are succeeding in a fast changing retail industry

Advanced Buying and Planning

This course will delve into how retailers operate in an omni-channel retail environment. The focus will be on how retailers create a one message to the consumer seamless shopping experience through the use of various channels, including the internet, tablet, social and mobile commerce. Students will explore how retailers using 2 or more methods of communicating to the customer are succeeding in a fast changing retail industry

Assortment Planning and Buying Strategies

Using real world examples and the JDA Enterprise Planning System, students will be assuming roles as Buyers and Planners managing a business for a retailer. Assortment buying plans by SKU, vendor and/or classification will be developed based on sales and profitability history. Students will need to develop fashion and basic product assortment plans for both brick and mortar and e-commerce from inception to exit strategy. “What if “real world results will be hypothesized and students will have to react to real-time unanticipated macro- and micro-environmental circumstances. Students will allocate new merchandise and basic merchandise to stores by SKU and determine opportunities for business growth. Students will manage inventory levels, sales and turns by developing an understanding of store needs based on sales volume, floor space, sell through, weeks of supply and climate zones. Case studies will be used to analyze business decisions made by Buyers and Planners for current and future product, pricing, sales, promotional, turn and distribution issues in preparation for Executive Training Programs. Students will effectively run a business in a real-world simulation environment. Store visits will be utilized in order for students to analyze the assortment mix, pricing and presentation strategies that retailers employ.

The Buying Trip/Competitive Global Shop

Students under faculty supervision, visit principal European cities to study the factors involved in fashion retailing, assortment differences and pricing analysis. Time frame: during Spring Break

Store Operations, Personnel Organization and Supervision for Buyers and Retailers

Understand how retail stores operate from scheduling to recruitment, selection, utilization, and development of human resources; role of supervisors in management and personnel administration for a Retail organization. Students will understand how to manage and train their assistants and associate buyers to achieve success in the retail industry.

Non-Apparel Buying and Retailing

Students will learn the differences of buying for supermarkets and non-apparel retailers. Retailing principles and promotional techniques unique to non-apparel retailers; inventory planning and control, buying, pricing, visual presentation will be analyzed and discussed. Current global issues affecting each segment of non-apparel including agriculture, production, wholesale distribution and consumption behavior.

Retail Buying & Planning Senior Capstone

Integration of the skills and knowledge acquired in previous courses. Working in teams, students research and analyze financial, merchandising and competitive data from various retail organizations. Students articulate merchandising and competitive strategies in a final presentation business plan. This course will encompass the analysis of all retail channels of distribution (mass market, off price, department stores, store is the brand, fast fashion, luxury and non-apparel). Basic financial performance analysis, retail strategy metric (product, assortment, pricing, promotion and distribution) analysis will be applied to make recommendations to foster critical thinking for entry into the retail sector. Particular attention will be given to the financial performance metrics and standards used within the retailing industry in order for students to “speak the business”.



↑Back to Top