Dha 3242 Retail Buying

DHA 3242 Retail Buying/Fall 2009

DHA 3242 RETAIL BUYING

3 Credits, Tuesday & Thursday 08:45-10:00 a.m., Classroom Office Building B25

Fall 2009

Retail Merchandising Program

Department of Design, Housing, and Apparel

College of Design

§  Instructor: Hye-Young Kim, Ph.D.

§  Office: 368A McNeal Hall

§  E-mail:

o  Email is the easiest and most reliable method to reach me!

§  Office Phone: 612-624-4904

§  Office Hours: Thursday 10:30-12:30, other times by appointment

§  Graduate Teaching Assistant: Doo Young Choi ()

General Information

Course Description / An overview of the merchandising principles and mathematics needed for retail planning, buying, and selling
Course Objectives / Upon completion of this course, students should be able to:
1.  Demonstrate a basic knowledge of the principles and techniques of merchandising math
2.  Articulate how to apply these fundamentals to real-world retail operations
3.  Define and compute essential merchandising-related figures including profit, open-to-buy, markups, markdowns, and turnover
4.  Understand the role of a retail buyer.
Required
Text / Kincade, D. H., Gibson, F. Y., & Woodard, G. A. (2004). Merchandising math: A managerial approach. Upper Saddle River, NJ: Prentice Hall.
Course
Website / The course website will be located on WebVista. The easiest way to log in to the course site is to log into the myU portal (http://myU.umn.edu), and locate the link for DHA 3242. Through this site, you will be able to access lecture notes, assignments, your grades, and other useful information. Use your University of Minnesota Internet ID and password to log in. You are responsible for monitoring the course site frequently.

COURSE POLICIES

1. ATTENDANCE

Class attendance is essential to your success in this course. Extensive absences from class will negatively affect your learning and performance. It is unlikely that any student will successfully complete the course without regular attendance. Although formal attendance is not taken on a daily basis in class, full attendance is expected.

2. CLASS SESSIONS

You are expected to do the assigned readings before coming to class. Reading beforehand will help you follow the lecture. PowerPoint slides (or other lecture notes) will be available to you by 5:00 p.m. the day before the class (if not earlier) on the WebVista course site. You are expected to print them off ahead of time and bring them to class.

Lectures in class will be very concept focused with problem examples. The instructor will explain concepts and the use of formulas and then have you work through practice problems assigned from your textbook. You should bring your textbook and a calculator to each class period.

Class participation is encouraged and respected, ask questions if you do not understand the material, and to offer your opinion. The more you participate, the more you will learn. You are also expected to listen respectfully to other students and to me when speaking. Racism, sexism, homophobia, classism, ageism, and other forms of bigotry are inappropriate to express in this class. Members of this classroom will practice inclusivity.

3. Classroom Etiquette

Your undivided attention in class is a must. Please note that the instructor reserves the right to request a student to leave if his or her behavior is inappropriate and disrespectful. A few reminders regarding basic classroom etiquette:

·  Treat your classmates, instructor, and TA with respect and courtesy.

·  Be timely in your arrival and departure. That is, be ready when class begins and stay until class is over. Students arriving late or leaving early distract me and disrupt learning for everyone else. For my part, I will make every effort to begin and end class on time.

·  Do not have private conversations during class; even whispering can be distracting.

·  Do not read the newspaper or work on assignments for other classes.

·  Turn your cell phones off.

4. EXAMS

There will be four (4), non-cumulative exams. Each exam will be worth one hundred (100) points. Make-up exams will be given only when notification is provided to me three days in advance with valid justification. A missed exam will result in a Zero (0) for that exam. Nothing can be made up unless arranged with the instructor prior to the exam time.

5. ASSIGNMENTS

There will be required homework assignments for each chapter. Frequent and dependable access to a computer with reliable Internet access is essential for success in this course. All the course assignments must be submitted to the WebVista course site (Electronic submission only; No hard copies will be accepted). Guidelines for assignment submission will be posted on your course site. If you are unclear about the requirements, please check out Student Support (http://webct.umn.edu/students/) where you will find information regarding the use of WebVista.

No late assignments will be accepted. If you do not submit your assignment electronically by the designated deadline, you will receive a Zero (0) for that assignment. Do not wait until the last minute to make an online submission. Any computer-related problems will not be excused.

5. WORK LOAD

To achieve an average grade in a regular 15 week undergraduate course, the University recommends spending an average of 3 hours per credit per week on class work. Since this is a 3 credit course, you should plan on allocating approximately 9 hours per week on this course. Three hours of this time will be spent in class, and the remaining 6 hours should be used for reading the assigned material, working on the assignments, and studying for exams.

University POLICIES

1. Disability Accommodations

Reasonable accommodations will be provided for students with documented disabilities. Please contact the instructor to work out the details for any necessary accommodation at the beginning of the semester. You will also need to work with the Office of Disabilities Services, 12 Johnston Hall, 612-626-1333.

2. Disruptive Classroom Conduct

All activities in the University, including this course, are governed by the University of Minnesota Student Conduct Code. Students who engage in behavior that disrupts the learning environment for others may be subject to disciplinary action under the Code. In addition, students responsible for such behavior may be asked to cancel their registration (or may have their registration canceled).

3. Academic Misconduct

Academic misconduct is defined as any act that violates the rights of another student with respect to academic work or involves misrepresentation of a student’s own work. Academic misconduct includes but is not limited to: cheating on assignments or exams, checking answers from someone else’s work during an exam, plagiarizing pieces of work, depriving others of necessary coursework, and sabotaging another’s work. Discovery of academic misconduct is grounds for an “F” for the course and may be grounds for expulsion from the University.

Grade

Grading Criteria / Maximum Points / Points Earned
4 non-cumulative exams (100 points each) / 400
5 Online Quizzes ( 10 points each) / 50
10 Homework Assignments (20 points each) / 200
TOTAL / 650

Your final course grade will be based on total points earned in the course. The total number of points a student earns is divided by the total number of possible points (650 points).

A 94%­ A- 90%­

Signifies achievement that is outstanding relative to the level necessary to meet course requirements

B+ 87%­ B 84%­ B- 80%­

Signifies achievement that is significantly above the level necessary to meet the course requirements

C+ 77%­ C 74%­ C- 70% ­

Signifies achievements that meet the course requirements

D+ 67%­ D 64%­ D- 60%­

Signifies achievements that is worthy of credit even though it fails to meet course requirements

F 59%¯

Indicates coursework was completed but at an achievement level unworthy of credit.

TENTATIVE COURSE SCHEDULE

Week / Topic / Readings / Assignment
Due
Week 1 / Sep. 8 (T) / Course Introduction
Sep. 10 (TH) / Introduction to Merchandising & Retail Pricing / Chapters 1 & 2 / Online Quiz #1
Week 2 / Sep. 15 (T) / Skeletal Profit & Loss / Chapter 3 / HW #1
Sep. 17 (TH) / Profit & Loss with Change / Chapter 3
Week 3 / Sep. 22 (T) / Q/A & Review for Exam I / HW #2
Sep. 24 (TH) / Exam (I) / Chapters 1-3
Week 4 / Sep. 29(T) / Expanded Profit & Loss / Chapter 4
Oct. 1 (TH) / AMS/ACRA Conference (No Class) / Chapter 5 / Online Quiz #2
Week 5 / Oct. 6 (T) / Markup & Operating Expenses / Chapter 4
Oct. 8 (TH) / Planned Sales for Continuing Businesses / Chapter 6 / HW #3
Week 6 / Oct. 13 (T) / Planned Sales for New Businesses / Chapter 6
Oct. 15 (TH) / Average Stock & Turn / Chapter 7 / HW #4
Week 7 / Oct. 20 (T) / Basic Stock Method & Stock-Sales Ratio Method / Chapter 7
Oct. 22 (TH) / Finish Up & Review for Exam II / HW #5
Week 8 / Oct. 27(T) / Exam (II) / Chapters 4-7
Oct. 29 (TH) / ITAA Conference (No Class) / Chapter 9 / Online Quiz #3
Week 9 / Nov. 3 (T) / Six Month Plan / Chapter 8
Nov. 5 (TH) / Six Month Plan / Chapter 8
Week 10 / Nov. 10 (T) / Assortment Planning & Unit Control / Chapters 10 & 11 / HW #6
Online Quiz #4
Nov. 12 (TH) / Unit Control & Buying / Chapters 11 & 12
Week 11 / Nov. 17 (T) / Finish Up & Review for Exam III / HW #7
Online Quiz #5
Nov. 19 (TH) / Exam (III) / Chapters 8-12
Week 12 / Nov. 24 (T) / Vendor Relations / Chapter 13
Nov. 26 (TH) / Thanksgiving Holiday (No Class)
Week 13 / Dec. 1 (T) / Vendor Relations & Inventory / Chapters 13 & 14
Dec. 3 (TH) / Inventory / Chapter 14 / HW #8
Week 14 / Dec. 8 (T) / Price Adjustments / Chapter 15 / HW #9
Dec. 10 (TH) / Price Adjustments / Chapter 15
Week 15 / Dec. 15 (T) / Finish Up & Review for Exam (IV) / HW #10
Dec. 17 (TH) / Study Day (No Class)
Week 16 / Dec. 21 (M) / Exam (IV) (10:30 a.m. ~ 12:30 p.m.) / Chapters 13-15

Note: The schedule and procedures in this course are subject to change in the event of circumstances beyond the instructor's control, or in response to other changing circumstances.

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