AMD 376 syllabus_SPRING 2016 1-9-15

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Department of Apparel, Events, & Hospitality Management (AESHM)
AMD 376: Merchandise Planning & Control (4 cr.)
SPRING 2014
Instructor and Course Information:
Lecture Instructor:
Amy Dorie
Office: 28 MacKay
E-mail: amydorie@iastate.edu
Office Hours: Please email for appt.
Lab Instructor:
Steven McKinney
Office: 28 MacKay
E-mail: smckinn@iastate.edu
Office Hours: Please email for appt.
Location
MW 11:00 – 11:50 PM in 0001 MacKay Hall
Lecture:
Lab:
Section 1:
Section 2:
Blackboard
Learn (Bb)
Th 9:00 - 10:50 PM in 113 MacKay Computer Lab
Th 3:10 - 5:00 PM in 113 MacKay Computer Lab
https://bb.its.iastate.edu/webapps/portal/frameset.jsp
Log-in ID = Your ISU e-mail address without @iastate.edu
Password = ISU NetID (ISU email) Password
Course Description:
Retail math, assortment planning, model stocks, budget development, buying concepts and pricing strategies.
Computer spreadsheet (i.e. Microsoft excel) applications (4 Credits).
Course Prerequisite:
AESHM 275 and ACCT 284 or MATH equivalent
Learning Outcomes and Course Objectives:
Based upon CHS Learning Outcomes, all graduates from the AESHM Department should be able to demonstrate
the General Department Learning Outcomes: 1) Communication, 2) Self-assessment/self-reflection, 3) Critical
Thinking, and 4) Ethics, Diversity and Social Responsibility. Details about the CHS learning outcomes can be
found at: http://www.hs.iastate.edu/academics/core-learning-outcomes/.
Upon completion of the course, students should be able to:
1. Communicate effectively with others in one-on-one, small group, and large group situations; Demonstrate
affective and professional oral and written communication and documentation and use of current
information technologies
2. Demonstrate an understanding of the background, structure, and ever-changing world of fashion buying
and merchandising via the use of market research.
3. Identify the buyers' responsibilities, behaviors and challenges involved in forecasting and developing a
product line. Demonstrate knowledge of the fundamentals of planning, selection, negotiating, cost control,
and promotion of retail merchandise assortments.
4. Apply basic mathematical concepts used in solving typical retail merchandising problems.
5. Understand data processing and role of computers/technology in merchandise budgeting, assortment
planning and control.
6. Understand how to achieve profits through consumer satisfaction by further understanding assortment
planning and sell-through.
7. Understand the importance of trend analysis and niche marketing when developing a product line.
8. Evaluate information based on creative processes/logical reasoning to think critically, make decisions and
solve problems.
Course Materials:
Required Textbooks:
• Easterling, C., Flottman, E., Jernigan, M. and Wuest, B. (2013). Merchandising Mathematics for Retailing (5th
Ed.). New Jersey: Pearson Publications.
• AMD 376 Merchandise Planning & Control Lab Manual. (Course pack available at the ISU Bookstore)
Supplemental Textbook:
• Kunz, G. I. (2010). Merchandising: Theory, Principles, and Practice (3rd Ed.). New York: Fairchild
Publications.
Required Materials:
• Calculator every class session – functions needed include add, subtract, multiply and divide.
• USB flash drive to save spreadsheet activities and homework assignment for lecture and lab.
Course General Policies:
1.
2.
Attendance: Class attendance and class participation are essential to your success in this course. Extensive
absence from class will significantly affect your grade and negatively impact your input on group activities
and projects. While formal attendance will not be taken on a daily basis in class, points may be deducted
from your final grade in the case of excessive absences. Students are reminded that tardiness is disruptive
to fellow students as well as the instructor. If tardiness becomes a problem, the instructor reserves the right
to deduct points for tardiness at any time during the semester.
Assignment requirements: NO LATE ASSIGNMENTS WILL BE ACCEPTED (unless it is a
University-excused absence and all appropriate documentation is given to the instructor OR prior approval
is granted). Do not wait until the last minute to print out your assignments!! Any computer problems on the
day the assignment is due will not be excused. Please refer to the syllabus for assignment due dates.
Assignments due in class must be turned in at the beginning of the scheduled class, unless otherwise noted
by the instructor.
Written assignments: All documents must by typed and satisfy the requirements as follows: doublespaced, Times New Roman, 12 point font, 1-inch margins on all sides, header containing student name,
title of assignment and the date, appropriate citation for all references and quotations following APA
style, and accurate spelling and grammar.
Spreadsheet assignments: Should be printed using printer, size 10 – 12 point font, printed with
gridlines, header containing student name, title of assignment and the date. Unless instructed
otherwise, scale spreadsheet to print on one page (page setup). Always turn in 2 spreadsheets: one
containing the answers to calculations (e.g., numbers/values) and the other one containing the formulas
(unless other instructions specified).
Math assignments: Will be assigned to give students practice using important formulas for
merchandise planning and pricing. Students need to write down ALL calculation procedures to
generate final answers in order to get full credit. Final answers should be circled or highlighted. Math
assignments may be hand written, but must be scanned and uploaded to Bb. Scanners are available in
Parks Library on the 1st floor. Round answers to 2 decimal places.
On-line quizzes: Will be posted on Blackboard (Bb) to give students additional practice calculating
formulas covered in each chapter. Students will be allowed 30 minutes to complete each quiz; 3
attempts will be given, with the highest score recorded. Note: each quiz consists of randomly generated
questions; hence, it is unlikely that a student will get the same exact quiz on the second or third
attempt. For quiz due dates, please refer to the syllabus.
In-class activities: In-class activities will be assigned throughout the semester. Students must be
present in class to earn credit for these assignments.
3.
4.
6.
Bb activities: Blackboard activities will be assigned throughout the semester. Please refer to the course
schedule for due dates.
Extra credit opportunities: Extra credit opportunities will be announced by the instructor.
Lecture notes and other class material: Students will be responsible for all materials presented in class
lectures, course readings, and activities. Students who miss class should ask classmates for a copy of class
notes. PLEASE DO NOT ASK THE INSTRUCTOR FOR PAST HANDOUTS OR CLASS NOTES
(unless it is a University accepted absence). It is your responsibility to catch up on what you missed.
Grading policy: You are responsible for your own learning. Work with your own preferred style of
learning to optimize your performance. Grades will be posted for the course on Blackboard (use “my
grade”). We will make every effort to keep accurate records. However, it also is students’ responsibility to
monitor grade reports and keep all materials related to the course. All grade related claims, with the
exception of Final exam and Final Lab project, must be made by Sunday, May 1st, 2016.
Your final course grade will be based upon:
3 Non-cumulative exams
50 pts each
150
1 Cumulative Final Exam
75
State of the Industry Assignment
25
2 Math Assignments
50 pts each
100
On-line Chapter Quizzes (7)
Vendor Analysis Assignment
In Class Activities
Blackboard (Bb) Activities
10 pts each
70
30
100
50
10 pts each
10 pts each
Lab Assignments
Final Lab Project
TOTAL
140
75
815
Course grades will be rounded to TWO decimal places (with normal rounding rules applied), and will
follow the University Grading System as noted below:
% of Course Points
Letter Grade
93 – 100%
90 – 92 %
88 – 89 %
A
AB+
83 – 87 %
80 – 82 %
78 – 79 %
73 – 77 %
B
BC+
C
70 – 72 %
68 – 69 %
63 – 67%
CD+
D
60 – 62 %
D-
Below 60 %
F
If a student has a course related problem, he/she should discuss it with the course instructor first. If the
student is not satisfied, he/she should contact his/her advisor to address the situation. The advisor will
suggest possible course of actions. For more information refer to:
http://catalog.iastate.edu/academiclife/#appealofacademicgrievances.
6. Academic misconduct: Students should not be tempted to look on a neighbor’s exam paper, to bring notes
to an exam, or to engage in plagiarism on any paper. All of your work must be original. All incidents of
academic misconduct must be reported to the University Academic Misconduct Committee in accordance
with Section 4.2.1 of the Student Disciplinary Regulations, which requires that “The instructor must report
the incident in writing to the Dean of Students.” and will be handled as a case. It is a long, involved, and
not very pleasant process. Students are rarely remembered for their grades, but may be remembered for
dishonesty.
7. Special needs and accommodations: Please address any special needs or special accommodations with the
course instructor at the beginning of the semester or as soon as you become aware. A request for
accommodation should be presented to the instructor at least 10 business days before the date of the
accommodation needed. Those seeking accommodations based on disabilities should obtain a Student
Academic Accommodation Request (SAAR) from the Disability Resources office (515-294-7220),
http://www.dso.iastate.edu/dr/, which is located in Room 1076 of the Student Services Building.
8. Code of Conduct: Please follow all of Iowa State University’s policies and procedures regarding student
conduct.
Please do not discriminate against or harass any of your fellow classmates or instructors. Iowa State
University has an established policy against discrimination or harassment based on race, color, age,
religion, national origin, sexual orientation, sex, marital status, disability, or status as a U.S. veteran. As an
ISU student, you may not discriminate against your fellow students or instructors on any of these bases, and
you must be careful to show respect and appreciation and to contribute to a respectful, supportive
classroom atmosphere for you, your peers, the teaching assistant, and myself. Any questions or concerns
can be addressed to me or to the Director of Affirmative Action, 101 Wallace Road Office Building, 800262-0015, ext. 7612, http://www.iastate.edu/~aa0/AA.htm.
Please allow at least twenty-four (24) hours for responses to questions or comments left for me on e-mail.
Please feel free to ask questions, express concerns, or make suggestions for improvements to the course.
9. Use of Electronic Devices: All usage of laptops or other similar devices must be approved by the
instructor. All cell phones should be turned off and put away, or the instructor can ask the student to leave
the classroom for the rest of the class period, in which case it will be counted as an absence.
10. Course fees: Will be used to cover the expenses of industry reports, media, references or software used
during class.
Exam Policies:
1.
There will be three exams and one comprehensive final. The first three exams are independent and not
entirely comprehensive. However, note that many mathematical equations will be used repeatedly
throughout the entire semester. Exam questions are derived as follows: lecture notes, textbook, and
assignments. Exam format will be multiple-choice only.
2.
Please bring a #2 (soft-lead) pencil to the exam.
3.
For each exam, you can prepare one 3 x 5 index card to include whatever you want regarding
pertinent content and formulas. You will be allowed to use this index card during the exam.
4.
You will be allowed to use your calculator during the exam. However, no sharing of calculators is allowed
so be sure to bring your own. No cell phone calculators may be used.
5.
Students are expected to take exams when scheduled. Failure to appear for an exam at the designated time
and place will result in a zero. NO MAKE-UP EXAMS WILL BE GIVEN, unless prior approval has
been granted. Approval to miss an exam will be given only to those who have a documented, Universityapproved excused absence and who notify me (via phone or e-mail) prior to the exam; any extenuating
circumstances will be considered by the instructor and discussed with the student.
6.
Be sure to identify yourself both on the exam material and the exam answer sheet by your exact name and
by your student ID number. Your exam score will be nullified if the information is incorrect or omitted
both on the exam and the exam answer sheet.
7.
Second language students may use a translation dictionary if prior approval from the instructor has been
obtained. Your exam will be confiscated and you will be referred to the ISU Committee on Academic
Misconduct if any of the policies above are not followed.
8.
Hats with bills (e.g., baseball caps) must be worn with bill turned to the back of your head on exam days.
9.
After completing the exam, you must turn in 1) the original exam material and 2) the exam answer sheets.
The instructor will not accept when either one of them is missing.
10.
You must quietly leave the classroom after completing the exam.
11.
Special exam accommodations: All students who need special accommodations for exams as indicated in
their SARS agreement must arrange taking the exams at the Exam Accommodation Center (see below). To
make sure that the exam is scheduled at the time of midterm/final, students should make reservations in
advance. When students who do not need special accommodation miss an exam and are eligible for a
make-up exam (e.g., illness), faculty or student with approval from the faculty should contact AESHM
department office to check availability and then schedule the exam date/time. Or, consider giving the exam
in his/her office.
Exam Accommodations Center, Student Disability Resources
1200 Hixson-Lied Student Success Center
Phone: 515-294-5197 * E-mail: examaccommodations@iastate.edu
Rounding-off Policy:
1.
Rounding-off is a process in which the value of a number is changed to make it usable. As the number is
altered either up or down, regardless of its magnitude, you will be introducing an error. Do not expect,
therefore, that a series of numbers which have been rounded-off will sum to the exact amount as before.
The rounding-off policy for all mathematical problems that may appear on exams and homework in this
class is as follows:
Round off all answers to two (2) decimal places after the decimal point. To do this, your must first
carry out your answer three (3) places past the decimal in order to round-off. If the third place after the
decimal is less than five (5), you drop the third and do not change the second. If the third place after
the decimal is five (5) or greater, the add one (1) to the second place. Here are some examples:
6.891 = 6.89
7.455 = 7.46
Use the same policy for percentages:
.45209 = 45.21%
2.
Keep in mind that answers may vary slightly due to rounding errors.
AMD 376 Course Schedule Spring 2016
DATE
TOPICS
READINGS/VIDEOS
ASSIGNMENTS DUE
--LECTURE FORMAT-Week 1
Course Introduction
M
1/11
W
1/13
Merchandising Mathematics:
The Basics
Socio-economic Factors
Affecting Retailing
READ: Chapter 1: Introduction,
pp. 3 - 15
READ: Chapter 2, pp. 17-19, &
21- 38.
In Class Activity 1 (10pts)
In Class Activity 2
Discuss State of the Industry
Assignment
F
1/15
Week 2
M
1/8
W
1/20
Holiday – no class
READ: Chapter 3, pp. 43-66.
Profit & Loss: Statements &
Profits
F
1/22
“State of the Industry”
Assignment (25 pts) due by 10:59
AM on Bb
READ: Chapter 4, pp. 79-94.
Week 3
M
1/25
Profit & Loss: Net Sales,
COGS, Gross Margin,
Operating Expenses, Profits
W
1/27
Profit & Loss:
COGS &
Invoice Math
F
1/29
Quiz 1: Chapter 3 (10 pts); Due
by 11:59 PM on Bb.
DATE
TOPICS
READINGS/VIDEOS
ASSIGNMENTS DUE
Week 4
M
2/1
Profit & Loss and Invoice
Math Applications
W
2/3
Profit & Loss and Invoice
Math Applications
Math Assignment 1: Profit &
Loss/ Invoice due by 10:59 AM
on Bb (50 pts)
Quiz 2: Chapter 4 (10 pts); Due
by 11:59 PM on Bb.
F
2/5
Week 5
M
2/8
Review for Exam 1: P & L
and Invoice Math
W
2/10
Exam #1
--FLIPPED FORMAT-READ: Chapter 6, pp. 141 - 147
READ: Chapter 5, pp. 104 – 123
F
2/12
WATCH: Chapter 5/6 Part I
videos on Bb
Extra credit activity on Bb
Week 6
M
2/15
Pricing Strategy & Markup
W
2/17
Averaging Markup
Bb activity 1: due by 10:59 AM
on Bb.
READ: Chapter 5, pp. 123 – 131
F
2/19
WATCH: Chapter 5/6 Part II
videos on Bb
Week 7
M
2/22
Initial, Cumulative, &
Maintained Markups
W
2/24
Initial, Cumulative, &
Maintained Markups
Bb activity 2: due by 10:59 AM
on Bb
DATE
TOPICS
READINGS/VIDEOS
READ: Chapter 6, pp. 148 - 160
WATCH: Chapter 5/6 Part III
videos on Bb
F
2/26
ASSIGNMENTS DUE
Quiz 3: Chapter 5 (10 pts); Due
by 11:59 PM on Bb.
Week 8
M
2/29
Sell-Through
Markdowns
Markdown Cancellation
W
3/2
Application Problems:
Pricing, Markup, Initial,
Cumulative & Maintained
Markup, Markdowns
Bb activity 3: due by 10:59 AM
on Bb.
F
3/4
Quiz 4: Chapter 6 (10 pts); Due
by 11:59 PM on Bb.
Week 9
Review for Exam 2: Pricing
M
3/7
W
3/9
F
3/10
Discuss Vendor Analysis
Assignment
Exam #2
Work on Vendor Analysis
WATCH: Vendor Analysis
READ: Chapter 7, pp. 195-196
READ: Chapter 8, pp. 207-224
WATCH: Stock Planning Part I
Extra credit activity on Bb
Week 10 - SPRING BREAK - NO CLASSES 3/14-3/18
Week 11
M
3/21
W
3/23
F
3/25
Vendor Analysis
In class vendor assignment
(15 pts)
Vendor Analysis due by 10:59
AM on Bb (15 pts)
Planning Sales & Stock,
Stock Turn, & GMROI
Bb activity 4: due by 10:59 AM
on Bb
READ: Chapter 8, pp. 224-230
WATCH: Stock Planning Part II
DATE
TOPICS
READINGS/VIDEOS
ASSIGNMENTS DUE
Week 12
M
3/28
W
3/30
Stock Planning Methods:
Weeks’ Supply, Basic Stock
and Stock to Sales Ratio
Bb activity 5: due by 10:59 AM
on Bb.
Application Problems:
Stock Planning Methods
Quiz 5: Chapter 8 (Stock
Planning Methods; 10 pts); Due
by 11:59 PM on Bb
F
4/1
Week 13
M
4/4
Review for Exam 3: Stock
planning and 6-month plan
W
4/6
Exam #3
Extra credit activity on Bb
--LECTURE FORMAT-READ: Chapter 8, pp. 235-239
DOWNLOAD: Two 6 month
plan handouts: Stock-Sales Ratio
and Basic Stock
F
4/8
Week 14
M
4/11
6 Month Plan
W
4/13
6 Month Plan
F
4/15
Week 15
M
4/18
6 Month Plan
READ: Chapter 7, pp. 173-190
Quiz 6: Chapter 8,
(6month plan; 10 pts); Due by
11:59 PM on Bb
DATE
W
4/20
TOPICS
READINGS/VIDEOS
Math Assignment 2: 6 Month
Plan due by 10:59 AM via Bb (50
pts)
Retail Method of Inventory:
Inventory Management
F
4/22
ASSIGNMENTS DUE
READ: Chapter 9, pp.255-271
Quiz 7: Chapter 7 (10 pts); Due
by 11:59 PM on Bb.
Week 16
M
4/25
Open-to-Buy
W
4/27
Practice Problems
Review for Final Exam
Final LAB project due in lab
FINAL EXAM: TBA
Extra credit TBA
Week 17
M-F
5/2-5/6
**Note: Course Schedule may be subject to change.
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