Retail Buying: The Journey from Cost to Profit

  • Level: Intermediate
  • E-learning: 1.25 hours
  • Modules: 3
  • Quiz: Multiple choice
  • Certificate: Digital
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Course overview

This series of three online modules provide an in-depth understanding of what’s involved in managing product costs to influence profitability through commercial costing and sourcing decisions. With an understanding of cost components, different costing types and how margin is comprised you are equipped to maximise profit, by making cost considered decisions and taking cost-driven actions.

In this course, you will learn:
  • How to break down cost components from a final cost price
  • How and when to apply cost components
  • How to make open and cross costings and the benefits of each
  • How to calculate intake and final margin
  • How your sourcing decisions can impact margin and profit

Modules in more detail

  1. Cost components – how costs are broken down and how this insight can improve profitability
  2. Commercial costing decisions – how to make costing decisions to improve intake margin
  3. Costings and final margin – understand your role in cost decision-making and how this impacts final margin and departmental profitability

Who is this course for?

  • Entry-level and intermediate buying or product development roles involved in sourcing products and supplier negotiations
  • Entry-level and intermediate merchandising and planning roles with responsibility for managing cost and margin parameters

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