Design Merchandising 247
DSNM 247: Merchandising Mathematics
Prerequisites: DSNM 200; 2.5 in-major GPA
Credit Hours: (3) Three hours lecture
A study of the retail mathematics practices used in the procurement and sales of apparel and interior products.
Note(s): Students cannot receive credit for both DSNM 263 and DSNM 247.
Detailed Description of Course
Through a combination of lecture and in class and homework problem sets, students develop skill in merchandising math techniques. Students apply these techniques to develop design solutions for merchandise buying and planning. Process checks and the appropriate merchandising math terminology are included in this course to enhance the quality of skill attainment. Individual and group critiques further enhance development of critical thinking skills. Topic covered include: the theory of merchandising math, components of profit/loss, markups /markdowns (individual, cumulative, and average), shipping terms and dating, purchase orders and invoices, gross margin concepts, six-month merchandise planning; dollar open-to-buy planning; and merchandise assortment planning.
Detailed Description of Conduct of Course
Course content is delivered through lecture. Active learning techniques will be employed to stimulate student learning.
Goals and Objectives of the Course
As a result of this course, the student will demonstrate:
1. An awareness of retail math applications for product procurement and sales.
2. An awareness of how to utilize basic spreadsheet applications to enhance productivity and accuracy.
3. A knowledge of the ramification of profit and loss on a firm.
4. A knowledge of critical thinking skills needed in merchandising math problem solving.
5. An understanding of how to apply basic principles of merchandising math
6. A knowledge of how to identify a problem and generate an assortment plan solution
7. A knowledge of how to identify a problem and generate a six-month merchandising plan solution
Exams, homework, problem sets, six-month merchandising plans and assortment plans will be used.
Other Course Information
Review and Approval