Retailing And Merchandising In Textiles And Appare

Retailing and Merchandising in Textiles and Appare 3(2+1)

Lesson 13 : Merchandising

Costing

Developing accurate cost estimates for new products is a critical merchandis­ing function. This cannot be done without a thorough understanding of the manufacturing process and a command of math.

Merchandisers must be capable of calculating the cost of producing each garment, determining selling prices, preparing statistical forecasts based upon incoming sales data, analyzing spreadsheets that are used to follow the status of fabric and production orders, and evaluating financial statements. These processes require a merchandiser to be comfortable working with math and statistics.