Purchasing Virtual Business Challenge

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Presentation transcript:

Purchasing Virtual Business Challenge Retail Operations

What is Purchasing? Purchasing is an component to the success of the store. A store must have adequate supplies available for its customers.

By completing this Simulation, you will learn… The basics of purchasing store inventory Selecting vendors Managing store inventory

Purchasing Questions What is a buyer? Explain the open-to buy process? How does a store select vendors? Explain the factors that influence inventory control and systems. Why is it important to understand stock turnover?