Retail Math – Understanding The Numbers That Drive Success

What you'll learn
Interpret margin & markup data and understand how to improve KPI's
Identify the components of a price
Markdown calculations, types, benefits and risks
Analyze the open-to-buy calculation
Understand inventory turns
Apply learnings to ask the right questions when presented with merchandising data
Shrink calculations and concepts
Break-even analysis
Introduction to the income statement
Comparative sales and SG&A expense ratios
Operations efficiency metrics
How to measure customer perception and behavior
Requirements
No retail experience or math expertise required, just bring a desire to learn
Description
Retail is an exciting, challenging, and fast-paced career choice. Merchandising is the engine that drives the business. The ability to understand merchandising & buying metrics is essential to success and those metrics are covered in great detail here. This course goes a step further, taking a cross-functional view including store operations, finance, accounting, and loss prevention to explore strategic concepts and the big picture of how the metrics tell a story. The instructor is known for using well-paced lectures and clear illustrations featuring examples and lessons learned over a decade in leadership roles. The course is ideal for those who are new to retail or who are experienced but never received an in-depth explanation of the key metrics and strategic concepts. Additionally this is great knowledge for any recruiter who needs to understand retail terminology in order to effectively interview candidates. The high level topics include:Merchandising formulas and conceptsPricing strategies explainedLoss prevention formulas and conceptsFinance & accounting retail relevant topicsStore operations key metricsCourse includes downloadable materials, such as visual illustrations of key concepts, a glossary and a 1-page formula cheat sheet.What you'll learn:Interpreting margin & markup data and how to improve the related KPI'sIdentify the components of a priceMarkdown calculations, types, benefits and risksAnalyze the open to buy calculationUnderstand inventory turnsApply learnings to ask the right questions when presented with merchandising dataShrink calculations and conceptsBreak-even analysisIntroduction to an income statementComp sales & SG&A expense ratiosOperations efficiency metricsHow to measure customer perception & behavior
Overview
Section 1: Introduction
Lecture 1 Introduction
Lecture 2 Learning Objectives
Section 2: Merchandising & Buying Math
Lecture 3 Components of a Price
Lecture 4 All About Markups
Lecture 5 The Art & Science of Markdowns
Lecture 6 Pricing Strategies
Lecture 7 Open to Buy
Lecture 8 As the Inventory Turns
Section 3: Finance & Accounting Math
Lecture 9 Some Definitions and an Income Statement
Lecture 10 Break-even Analysis
Lecture 11 Comp Sales
Lecture 12 Measuring SG&A Expense
Section 4: Loss Prevention Math
Lecture 13 You Can Count on Shrink
Section 5: Store Operations Math
Lecture 14 Retailer Performance
Lecture 15 Shopper Behavior Metrics
Section 6: Conclusion
Lecture 16 Closing Thoughts
Buyers, assistant buyers, planning & allocations analysts,Store operations, loss prevention, retail finance & accounting, inventory control professionals,HR recruiters who want to learn frequently used acronyms and terminology,Students who are interested in a retail career but want to know more about the inner workings,IT technologists who are responsible for designing and maintaining retail software such as POS, merchandising and pricing systems,Project managers who are inexperienced in retail concepts,Internal and external auditors who want to understand the metrics of retail,Any retail professional who wants a broader understanding of KPI's from a cross-functional perspective
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https://www.udemy.com/course/retail-math-understanding-the-numbers-that-drive-success/