Buyer: The person who is responsible for purchasing the merchandise for a store.
Open-to-Buy: The amount of money available to a buyer for purchasing items for a store.
Vendor: A business from which a buyer purchases merchandise.
Inventory: The total amount of goods a business has, including goods in the backroom and on the sales floor.
Stock: Another term for inventory.
Invoice: The vendor’s bill for stock purchased.
Inventory Control: The management of the merchandise a store has
for sale.
Just-in-Time Inventory Control System: A usually computerized method of inventory control that involves linking a store to its suppliers through a computer system that purchases new inventory automatically as sales are made.
Physical Inventory System: An inventory system that makes use of periodic counts of stock to ascertain stock levels.
Perpetual Inventory System: An inventory system that keeps track of stock items on a continual basis.
Stock Turnover: A tool that measures how often stock is sold during a given time period.
Advanced class: Turnover per square foot
Open-to-Buy: The amount of money available to a buyer for purchasing items for a store.
Vendor: A business from which a buyer purchases merchandise.
Inventory: The total amount of goods a business has, including goods in the backroom and on the sales floor.
Stock: Another term for inventory.
Invoice: The vendor’s bill for stock purchased.
Inventory Control: The management of the merchandise a store has
for sale.
Just-in-Time Inventory Control System: A usually computerized method of inventory control that involves linking a store to its suppliers through a computer system that purchases new inventory automatically as sales are made.
Physical Inventory System: An inventory system that makes use of periodic counts of stock to ascertain stock levels.
Perpetual Inventory System: An inventory system that keeps track of stock items on a continual basis.
Stock Turnover: A tool that measures how often stock is sold during a given time period.
Advanced class: Turnover per square foot
Purchasing
Getting the right goods, at the right price, at the right time for your company
Purchase Order:
Invoice:
Packing slip:
Activity: Invoice Discounting
Getting the right goods, at the right price, at the right time for your company
Purchase Order:
Invoice:
Packing slip:
Activity: Invoice Discounting