STOCK MANAGEMENT
(i) MERCHANDISE HANDLING
(ii) HOW TO RECORD THE STOCK
(i) MERCHANDISE HANDLING
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In merchandise handling, it have ordering process, receiving process, checking process and marking process.
(a) Ordering process.
- There are two things that the buyer must negotiate with the supplier:
NEGOTIATE
(1) Price
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Buyer must get the low price from supplier.
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For example, get the price RM1.50 for Coca Cola from the supplier, so that you can sell with price RM2.00
(2) Discount
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In discount have quantity discount and cash discount.
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Quantity discount- Buy the stock in a large quantity. For example buy 20 cottons of mineral water.
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Cash discount- Make a early payment to supplier and the supplier will give a discount
(b) Receiving process
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Order the supplier transportation agent.
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For example, Tesco order a transportation agent for Coca Cola sent the stock.
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Ensure the exterior packaging is not damage.
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For example, is not crushed or broken seal.
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Key in the invoice or delivery order at the system
(c) Checking process
- In checking, there have invoice check, quantity check and quality check.
Invoice check
- Compare the invoice with the delivery order.
Quantity check.
- Ensure the quantity is same with invoice and delivery order.
- Example: Calculate the quantity of stock.
Quality check.
- Ensure that the merchandise does not have any damages.
(d) Marking process.
- There are a few of pricing tactics which is customary prices, variable pricing, odd pricing and everyday low price.
Customary pricing-
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The retailer set the price and maintain with that price.
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For example is newspaper. The price of newspaper is maintain.
Variable pricing-
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The retailer set the different price with the same product depends on demand and supply
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For example, chocolate bouquet. During the convocation, the price for chocolate bouquet will be high because the demand is also high.
Odd pricing-
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The retailer set the price with the ends in odd number for example is RM 9.98, RM 10.99, RM 25.95
Everyday low price-
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The retailer charge the low price with the same customer everyday.
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It can increase the company sales. For example, Giant give the low price to customers and used the concept of everyday low price.
HOW TO RECORD THE STOCK
- This is the table on how to record the stock in and stock out.
