Tuesday, March 15, 2011
Today at Hershey's Mill I definitely got a feel for the more mathematic side of being a buyer. Ted showed us briefly how to add sku's into the computer system and then how to input the inventory received from all of the new Spring merchandise we have been receiving. We had to find out the individual item cost of everything coming in in order to accurately price it for retail...this consisted of taking the item totals, dividing it by the number of units, deducting the 2% discount that they receive for payment within 15 days (their terms with most vendors are 2/15, n/60), and then divide the shipping costs among all of the items which gave us the cost for one single item with only a simply calculator, pencil & paper...it was tedious and our heads were spinning by the end but I think it was fantastic to actually be able to apply what we had learned in past fashion classes to real-work-world experience!
Posted by Jen at 7:20 PM