Purchasing

In the Purchasing lesson, we learned how buying can effect sales and profits. Understand the qualities of a good buyer, the process of how to organize products through the store to sell.  We learned to understand how the quality of the product can affect the the sales on the product.  How to calculate stock turnovers by defining it in terms of items and dollars.  Last to list the problems having to do with purchasing and inventory control.  We also learned concepts like calculating open-to-buy, and computing stock turnover.  And key terms like buyer, vendor, inventory, stock, invoice, inventory control, just-in-time inventory control system, physical inventory system, perpetual inventory system, and stock turnover.  I learned from this lesson that the quality of the of the product can affect sales and the price of a product.