Which factor make the merchandise a source to be managed illustrate?
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Answer:
Explanation:
Merchandise Management
Merchandise management is the process through which each retailer decides what items to carry, how much to have on hand to meet the needs of customers, where they should be displayed in the store to maximize sales, and how they should be priced to sell the best and maximize profits.
The goal of every retailer isn't just to make sure that what they carry meets the needs of their customers. Retailers also need to have the ability to organize and manage their inventory. Retailers need to be able to track their inventories from the time they're ordered from a manufacturer to the time a consumer buys an item. They must ensure that all merchandise is handled and stored correctly, that it's organized in the store so that consumers can easily find what they want, and that it's easy to determine when it is time to re-order.
Merchandise Categories
Merchandise categories are the foundation unit that is used to manage merchandise in a retail environment. Retailers group merchandise into categories in order to classify and structure every single item sold in a store. Merchandise categories focus on considering how customers approach buying, how they shop in-store, and their needs. Merchandise categories determine what stores will and will not carry.
For a supermarket chain an example of merchandise categories could be Food and Non-Food. Every single thing that they sell falls into one and only one of these two categories.
The Merchandise Hierarchy
Merchandise categories are the starting point. Once a retailer identifies the basic categories for what is being sold, a merchandise hierarchy is typically created within each. The number of levels in the hierarchy will depend on the scope of goods carried by the retailer. The merchandise hierarchy guides how a retail operation will be organized in terms of in-store management, product placement in the store, and inventory management. A retail hierarchy normally consists of groups, departments, product classifications, and SKUs (or stock-keeping units).
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