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ASSIGNMENT DRIVE SUMMER
2016
PROGRAM Master of Business Administration
- MBA
SEMESTER III
SUBJECT CODE & NAME
ML0011 Buying & Merchandising
BK ID B1762 CREDITS &
MARKS 4 60
Q.No 1 Why is merchandise
assortment planning important for a retailer? What can happen without it?
·
Important of merchandise assortment
planning
·
What can happen without merchandise
assortment planning 5+5=10
Answer:-
Planning merchandise
assortment is a significant part of a retailer’s functional duties. To begin
with, a retailer first decides the firm’s financial objectives. Once the
financial objectives are ascertained, the retailer begins the task of deciding
what to buy. This task is the biggest challenge that a retailer faces every
day. Any wrong
Q2 Enumerate the category
management strategies that are used by retailers to ensure a smooth category
management process.
·
The
following are the seven widely applied category management strategies: traffic
building. 10
Answer:-
The following are the seven
widely applied category management strategies:
(i)
Traffic building: The
traffic pulling strategy is used to draw the customers’ attention towards
store, aisle, and/or category. This is usually achieved by advertising
relatively low priced goods. This strategy typically applies to
(ii)
Q3 Briefly Discuss the concept
of open-to-buy system. How do you calculate open-to-buy for the past and
current period?
·
Concept of open to buy system
·
How do you calculate open to buy for the
past and current 5+5=10
Answer:-
Open-to-buy system is a
system of monitoring merchandise flow in order to determine how much money was
spent on merchandise and how much balance there is to spend for a given period.
It helps the retailer to
Q4 Elaborate the role of organizational
breadth to track a retail store’s central buying functions.
·
Elaborate the role of organizational
breadth to track. 10
Answer:-
The buying department
performs the following functions:
1.
Purchasing receives the requisition: Orders are
dependent on the manufacturer’s production schedule and the manufacturer, in
turn, draws up this schedule on the basis of distributors’ orders and the
current availability of finished goods in its warehouse. Suppliers are linked
to the manufacturer’s production schedule – thus enabling them to plan their
supplies based on this information. If a supplier has a
Q5 List some of the ethical
issues involved in merchandise buying.
·
List some of the ethical issues involved
in merchandise buying 10
Answer:-
The following are some of the
ethical issues involved in merchandise buying:
• To honour the binding
contract by making commitments
• To
Q6 Explain the various
phases of vendor selection.
The following are the four
phases involved in a typical vendor 10
Answer:-
The following are the four
phases involved in a typical vendor selection process:
1. The Survey Phase: The survey
phase is the first phase which encompasses the following:
(i)
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