Participants learn and practice some of the more common retail math and inventory calculations in this course. Many retailers have sophisticated computer programs that perform many of the retail math calculations, but for both retailers and suppliers, it is important to understand how this “retail math” works. It is also important to understand how a retailer’s financial statement works, what drivers the overall results, and some of the most common retail math calculations that tie into the results. Income statements, balance sheets, cost of goods sold, shrink, gross margin, gross margin %, markup and markdown, and breakeven point are included in the course. The second half of the course focuses on the product supply chain for the retailer, and covers inventory turnover, inventory days on hand and GMROI calculations.
Approximately 3 hours course time