Merchandising PGA 3.0 Level 2 Test Exam Q&A Latest Updated
3 views 0 purchase
Course
Pga
Institution
Pga
Merchandising PGA 3.0 Level 2 Test
Exam Q&A Latest Updated
What does a typical OTB plan cover? - CORRECT ANSWER-it covers one year, and is
broken down into 12 one-month segments for each merchandise category.
What do OTB plans help merchandisers do? - CORRECT ANSWER-•Avoid over- or
under-...
Merchandising PGA 3.0 Level 2 Test Exam Q&A Latest Updated What does a typical OTB plan cover? - CORRECT ANSWER -it covers one year, and is broken down into 12 one -month segments for each merchandise category. What do OTB plans help merchandisers do? - CORRECT ANSWER -•Avoid over - or under -investing in inventory •Maintain inventory at levels that support forecasted sales •Avoid running out of individual products or merchandise categories Steps for OTB Plan Development - CORRECT ANSWER - 1. Forecasting Sales - CORRECT ANSWER -• Forecast annual merchandise sales, as described in the Business Planning course • Break down forecasted annual sales into merchandise classifications • Distribute annual sales into individual months by classification 2. Forecasting the Cost of Goods Sold: - CORRECT ANSWER -•Forecast the annual COGS, as described in the Business Planning course •Determine the COGS for each merchandise classification •Calculate total sales and the COGS as a percent of total sales •Calculate the monthly COGS by classification 3. Projecting Turnover - CORRECT ANSWER -•Project an annual turn rate for each merchandise classification and the entire inventory 4.Establishing Beginning -of-Month Inventory Levels: - CORRECT ANSWER -•Forecast average inventory levels for the entire inventory and for each classification •Adjust average inventory levels up or down to account for sales fluctuations throughout the year 5.Calculating Open -to-Buy Budgets: - CORRECT ANSWER -•Calculate OTB budgets at cost for each merchandise classification •Adjust budgets for each classification based on actual performance data
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller StudyCenter1. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $11.49. You're not tied to anything after your purchase.
