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FALL
– 2013
Master
of Business Administration- MBA Semester 3
ML0011
- Buying and Merchandising
Q1. Explain
the various principles of an ideal merchandising giving suitable examples for
each?
(Meaning of
Ideal Merchandising – 2, Detail explanation of 14 principles - 8 marks) 10
Marks
Answer :
Ideal Merchandising :
Merchandising is
a term used in marketing to denote all those sales- promotion activities that
aim to generate the customer’s interest in the product or service other than
conventional press and television advertising, direct mail or the use of PR.
The purpose of merchandising is to bring product and customer into the closest
possible proximity in order that the attributes of the merchandise may become
fully apparent and, in effect, sell themselves.
Q2. Enumerate
the category management strategies that are used by retailers to ensure a
smooth category management process.
(Meaning of
category management – 2 marks, Detail explanation of 7 steps – 8 marks) 10
Marks
Answer : Category management :
Category
management is a retailing and supply management concept in which the range of
products purchased by a business organization or sold by a retailer is broken
down into discrete groups of similar or related products; these groups are
known as product categories (examples of grocery categories might be: tinned
fish, washing detergent, toothpastes).
Q3. Discuss
the concept of open-to-buy system. How do you calculate open- to-buy for the
past and current period?
(Detail
explanation on the concept of OTB system - 3 marks, Calculation of OTB for past
period – 2 marks, Calculation of OTB for current period - 5 marks) 10 Marks
Answer : Open to buy system :
An open-to-buy
is a tool that in the hands of a fully committed small retailer can profoundly
improve financial performance. It allows a retailer to manage inventory, plan
purchases, and budget effectively. The clearest and simplest definition is that
it is a financial budget for retail merchandise. Let's look at this more
closely.
Q4. Enumerate
some merits and demerits of Formal Buying Organization, Informal Buying
Organization, Centralized Buying & Decentralized Buying along with
diagrammatic representation of functions and attributes of the buying
department.
(Diagrammatic
representation of functions and Attributes of the buying department – 2 marks,
Merits and Demerits of formal buying – 2 marks, Merits and Demerits of informal
buying – 2 marks, Merits and Demerits of Centralized buying – 2 marks, Merits
and Demerits of Decentralized buying – 2 marks)
10 Marks
Answer : Diagrammatic
representation of functions and Attributes of the buying department:
Purchasing is a
key activity in the supply chain. It can significantly influence the overall
success of an emergency response depending on how it is managed. In
humanitarian supply chains, procurement represents a very large proportion of
the total spend and should be managed effectively to achieve optimum value.
Procurement works like a pivot in the internal supply chain process turning
around requests into actual products/commodities or services to fulfill the
needs
Q5. Enumerate
the first 5 steps in Merchandise Buying and Handling Process.
(Explanation of first 5 steps – 8 marks,
Diagram - 2 marks) 10 Marks
Answer :
First 5 steps in Merchandise Buying and Handling process :
Once a retailer
develops a strategy for handling merchandise, a reorder procedure must be
developed. This procedure depends on various factors like the time taken by the
retailer to process the order, the time taken by the vendor to fulfill the
order, the inventory turnover rate, the financial expenditure and the cost of
holding inventory versus the cost of ordering merchandise. The retailer should
re-evaluate the complete merchandising process periodically.
Q6.
‘Selecting an appropriate vendor is the key step in the success of an
enterprise’.
(Detail
explanation of five steps - 9 marks, Diagram – 1 mark) 10 Marks
Answer: Steps
in selection of an appropriate vendor :
1. Analyze
the Business Requirements:
Before you begin
to gather data or perform interviews, assemble a team of people who have a
vested interest in this particular vendor selection process. The first task
that the vendor selection team needs accomplish is to define, in writing, the
product, material or service that you are searching for a vendor. Next define
the technical and business requirements
Dear students get fully solved assignments
Send your semester & Specialization name to our
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->
help.mbaassignments@gmail.com
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