QuickHelper

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Teaching Since: May 2017
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Education

  • MBA, PHD
    Phoniex
    Jul-2007 - Jun-2012

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  • Corportae Manager
    ChevronTexaco Corporation
    Feb-2009 - Nov-2016

Category > Business & Finance Posted 27 May 2017 My Price 12.00

Shoes Buying

Question description

 

FASHION INSTITUTE OF TECHNOLOGY ** FMM DEPARTMENT      
    Instructor:    
Fashion Merchandising         2016-2017    
BUYING ASSIGNMENT -on line            
                   
PURPOSE                  
  To experience reading a trend report and a classification analysis by store cluster.    
From those documents you will make actual decisions on what to BUY .      
You will choose the styles and quantities and merchandise them in 3 different store clusters.    
This should be represented visually in a powerpoint presentation.        
Store clusters - stores are grouped together by their different demographics and psychographics.  
Buyers make store purchases based on these attributes, most important being store size and    
income level. Also important are weather, and level of fashion acceptance.      
SCENERIO                  
  You are the Contemporary Shoe Buyer of a Specialty store on the East Coast.    
Alexander Birman was a Hot vendor last year , so this year you are going to capitalize    
on the trend and fund the business in all your 30 doors. The Alexander Birman customer is    
Contemporary, Fashion Forward and for the most part -money is not an issue. What is important to  
this customer is her shoes and that she is wearing the latest styles.        
ASSIGNMENT                
You have 30 stores but they are not all the same. Your top 8 doors do the most volume.    
and have the largest floor space. They are the triendiest and live in northern climates .    
The B doors are a group of 12 and they are located in more conservative Suburban areas.    
These women are professionals during the week and Moms on the weekends.      
The C doors are the smallest there are 10 stores , located in the south and love color.    
The weather is warmer and the lifestyle is generally more casual.        
  You will buy shoes for 30 stores using the guidelines set in the assignment.    
  A Store Cluster = 288 pieces PER STORE          
  B Store Cluster = 240 pieces PER STORE          
  C Stores Cluster = 216 pieces PER STORE          
Shoes are sold in pre-packs of 12 which are specific quantities that include specific sizes.    
Alexander Birman prepacks in quantities of 12 and the size range and scale are below.    
Size range = 6 1/2, 7, 7 1/2, 8 , 8 1/2, 9 , 9 1/2 , 10. = 8 sizes        
Size scale = 1 1 2 2 2 2 1 1 = 12 pieces of a style.      
1. You will figure out how may styles you need to buy by cluster to fill your stores.    
Remember you can only buy in quantities of 12 pieces PER STYLE        
2. Your Department Markup is 54% for the season. Your total purchase should be    
approx. this markup, it can be a bit more or less, you are the Buyer. You will assign    
a retail to each style you buy,              
3. You will fill in the purchase order using all the information given on the Manufacturer    
Line List. All style numbers, descriptions, and landed costs are listed. IT WILL BE YOUR    
DECISION AS TO:1. WHAT STYLES TO BUY,            
                   
2. WHAT STORES WILL RECEIVE WHAT STYLES          
3. THE TOTAL QUANTITY PER STYLE per color          
4. WHAT TO RETAIL EACH STYLE . CALCULATED FROM THE LANDED        
COST AND USING A 54% MARKUP TO CREATE PRICE POINTS.        
5. COMPLETELY FILLING OUT THE PURCHASE            
ORDER, INCLUDING TOTAL COST AND RETAIL must be in EXCEL        
6. GIVE A EXPLANATION OF YOUR BUY (MUST BE TYPED)          
7.Create a powerpoint showing the assortment in the 3 different clusters.      
You can insert all explanation of your buy to the powerpoint .        
Hints,                  
1.You can put the same styles in AB&C stores. If you feel strongly about a style you can    
buy it in 2 or more colors. Just explain why you bought what you did.      
2. If you think some styles can Retail higher than others you can mark them higher.    
All styles should not be marked up exactly 54%. Create price points        
3. YOU ARE ONE STORE . YOU WILL FILL OUT ONE PURCHASE ORDER FOR      
THE TOTAL BUY, ADDING UP THE 30 STORES.            
4. This order will be delivered on 09/1 with a 09/15 in store        
                   
  CLASSIFICATION ANALYSIS FROM FALL 2015          
                   
Attached is a ACTUAL Last Year Sales analysis by classification from        
2015 to help you with your decisions.            
                   
    % Sales   % Sales   % Sales      
Classifications # A Doors   B Doors   C Doors      
                   
                   
30 High Boots 34%   25%   15%      
                   
40 Booties 35%   20%   25%      
                   
50 Pumps 11%   25%   15%      
                   
60 Sandals 10%   5%   25%      
                   
70 Flats   10%   25%   20%      
                   
    100%   100%   100%      
                   
                   
This analysis is to be used as a guideline only. % do not have to be the same as last year.    
Also take into account the trend report for this year. Remember buys are projections of    
what you think is going to sell this year.            
My suggestion is to visit trend reports for Fall Shoes 2016 and use in your buy! This is the fun part.  
FIT pays for many on-line trend services . Take advantage of them!!        
Show your trend analysis in your project!            
                   
                   
                   
                   

Answers

QuickHelper
(10)
Status NEW Posted 27 May 2017 07:05 AM My Price 12.00

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