Hodge Podge
What is the most common name in the world?
James
What is a buyer?
A buyer is the person who is responsible for purchasing the merchandise for a store.
What is an impulse purchase?
small items of merchandise that are purchased with little or no thought on the part of the customer. They are generally placed near the customer entrance, at the checkout area.
How can Theft Affect a Business?
Protecting a store from inventory loss is a major concern for businesses. Theft of inventory causes significant expenses for retailers.
How do I determine how many employees I need?
Size of the store, traffic patterns of customers, when traffic is high do I need more employees
What is Prestons Middle name?
Carter
What does a store have to do to be successful?
To be successful, a store must have inventory available for its customers to buy. That inventory must be what customers want and must be available when customers want to buy it.
Name the 4 types of Store Layouts
Free-flow, grid, loop, and Spine
the removal of items from a store with the intention of not paying for them.
Shoplifting
when there is not enough staff to handle the customers.
Understaffing
What does “www” stand for in a website browser?
World Wide Web
The amount of money available to a buyer for purchasing items for a store is called what?
open-to-buy
Why is Store Layout Important?
the arrangement of store fixtures, equipment, and merchandise. It has a major influence on sales and is important to the image and appearance of the store.
term used to describe inventory losses resulting from shoplifting, employee theft, inaccurate paperwork, damaged or misplaced merchandise, and vendor error.
Shrinkage
When there are too many staff members in the store for the customer traffic.
Overstaffing
How long is an Olympic swimming pool (in meters)?
50 meters
Why is timing so important?
Merchandise must be available when customers want to purchase it. The buyer must decide when merchandise will arrive at the store. If merchandise arrives before customers are ready to buy, the merchandise will sit on store shelves. If merchandise arrives after customers are ready to buy, they will probably have purchased it elsewhere.
What are fixtures?
a permanent or transportable store furnishings that are used to hold and display merchandise
theft that involves the unauthorized taking of merchandise by an employee from an employer.
Internal theft
What Makes a Good Employee?
Reliability – will the employee perform assigned tasks?
Attitude- does the employee display a positive outlook and a willingness to work cooperatively with others and accept direction?
How many teeth do lions have?
250-260
What is a vendor?
A vendor is a business from which a buyer purchases merchandise. The buyer generally selects vendors.
What is the amount of money inventory is shown to be worth in the business’s records?
Book Value
What is external theft?
When theft is committed by someone outside your business.
What do employees need to know before getting hired?
Make sure you understand the responsibilities of the job, the wages, and the number of hours to be worked.