Buying Strategy

MATS34571 Buying Strategy 40 Semester 1 Undergraduate Level 6 Rachel Parker-Strak Unit coordinator 1 FHEQ level (Framework for Higher Education Qualifications) ' Last part of a Bachelors ' European Credit Transfer & Accumulation System Rating : 20.0 Balancing new and existing products with existing and potentially new customer needs buyers and merchandisers to consider strategic options with certainty and clarity.  <div>Balancing new and existing products with existing and potentially new customer needs buyers and merchandisers to consider strategic options with certainty and clarity. In this unit buying policies will be investigated whilst considering issues such as situational analysis and post-mortem monitoring. The unit will follow through the strategic considerations needed during range and assortment planning whilst investigating preferred suppliers and ethical sourcing issues facing global fashion organisations. The unit split into two key parts, leading with the theoretical content and ending with a conceptual project linking the product development through into merchandising, stock control, garment technology and retail space and display allowing students to apply the theories into practice.</div>  <div>The unit aims to consider the significant role at the organisational level that fashion buying and merchandising has within the strategic development of product ranges and new consumer targets. It will critically evaluate consumer / buying emotions in order to ensure product planning and development is targeted. The unit will consider factors that impact on buying and merchandising through situational analysis, ethical sourcing, range selection and retail space planning. The unit also aims to develop further student’s analytical and creative skills through a final major project.This unit aims to:<ul><li>Critically review a range of strategic reporting methods utilised in buying and merchandising during decision-making and policy planning.</li><li>Critically evaluate the strategic perspectives required by buyers and merchandisers in order to understand their influencing roles on high street fashion.</li><li>Outline the strategic importance of post-mortem reporting in the product development monitoring and evaluation stages.</li></ul></div>  A greater depth of the learning outcomes will be covered in the following sections:<ul><li>Knowledge and understanding</li><li>Intellectual skills</li><li>Practical skills</li><li>Transferable skills and personal qualities</li></ul> 1a, Critically review a range of strategic reporting methods utilised in buying and merchandising during decision-making and policy planning.1b, Critically evaluate the strategic perspectives required by buyers and merchandisers in order to explain their influencing roles on high street fashion.Contributing to developing programme learning outcomes and the assessment of:<ul><li>Systematically describe, analyse and appraise the structure of global fashion, textiles and related industries, with focus on the emerging issues of markets, services, consumer expectations within the macro-environment.  </li><li>Confidently distinguish the key elements of contemporary challenges and issues in fashion and textiles and use these systematically in strategic planning of operational responses.  </li><li>Articulate the processes, procedures and practices of fashion retail, marketing, management and buying and merchandising strategies.  </li><li>Analyse the process and stages of fashion product development with specific emphasis on the role of the buyer and merchandiser.  </li><li>Critically analyse fashion buying approaches and fashion merchandising techniques within strategic product development, having the ability to recognise trends in fashion adoption and consumer purchasing habits.  </li><li>Demonstrate an in-depth understanding of the use of fibre, fabric and garment technologies within the buying critical path and how it is used in the product development process and supplier management. </li></ul> 2a, Evaluate and interpret strategic buying and merchandising tools and their applications.2b, Analyse the key issues of feasibility research and decision making within the buying and merchandising role.Contributing to developing programme learning outcome and the assessment of:<ul><li>Identify and conceptualise appropriate theories, applying them to the fashion and textile industry.  </li><li>Synthesise, assess and evaluate information and data from appropriate sources and use these to make informed, independent judgments and decision making in relation to technical product and/or business contexts.  </li><li>Exercise original thinking and independent learning to design and execute a project to evaluate and analyse a business concept or a technical aspect of garment or textiles products.  </li></ul>Undertake the development and execution of a major independent project in an appropriate area. 3a, Communicate their subject knowledge and expertise effectively within an industrial environment3b, Demonstrate analytical thinking and writing skills3c, Effective and considered use of creative presentation techniques appropriate to the buying and merchandising roleContributing to developing  programme learning outcomes and the assessment of:<ul><li>Select, evaluate and use relevant software applications, including spreadsheets, CAD software, business applications, etc., for different tasks such as data analysis or design communication, within the context of Fashion and Textiles industry.</li></ul>Identify and employ appropriate sources of information. 4a, Utilise creative and problem solving techniques to generate solutions.4b, Show a high level of competence across a range of communication skillsContributing to developing programme learning outcomes.<ul><li>Clear and effective communication, using a range of styles and employing various media appropriate to the context.</li></ul>Effective engagement in problem solving, academic discussion and presentation of arguments in a professional manner to both specialist and non-specialist audiences. <div> This unit will make use of a variety of learning and teaching processes including: lectures, discussions, workshops, group activities and independent study. Blackboard will be used to present lecture notes, guided reading, articles and other information. Blackboard may also be utilised for assessment using Turnitin.</div>   1 Written exam 30% 2 Written assignment (inc essay) 70% Written and verbal N Clark, J, (2015) Fashion Merchandising, Palgrave, LondonConnell, D, (2010) A Buyer s Life. Fairchild, New YorkDiamond, E, (2006) Fashion Retailing, A Multi Channel Approach, Pearson/Prentice Hall, NJFernie, J. & Grant, D (2015) Fashion Logistics, Kogan Page, LondonGrove, V (2012) Concept to Customer, Ava PublishingEberle, H., et al., (1999) Clothing Technology: from Fibre to Fashion 2nd ed. : Europa-LehrmittalElliott,F. & Rider, J., (2007) Retail Buying Techniques, Management Books LtdGorgen Wolfe, M G, (1998) The World of Fashion Merchandising, Goodheart-WillcoxGoworek, H (2009) Fashion Buying 2nd ed., Blackwell Science, LondonJackson, T. & Shaw, D., (2001) Mastering Fashion Buying and Merchandising Management : Macmillan Master SeriesJones, R. M., (2006) The Apparel Industry 2nd edition : Blackwell Science, LondonKeiser, S, J, & Garner, M, B, (2008) Beyond Design. The Synergy of Apparel Product Design. 2nd ed., Fairchild New York.La Fleur, R, S, (2010) Merchandise Planning Workbook. Fairchild, New YorkShaw, D. & Koumbis, D., (2014) Fashion Buying, Fairchild New York.Varley, R, (2001) Retail Product Management, Routledge  Lectures 30 Practical classes & workshops 16 0 354