In terms of merchandise planning....10pts (short)?
In terms of merchandise planning the 8 steps being:
1) gathering information
2) selecting and interacting with merchandise sources
5) concluding purchases
6) receiving stock
what does 6) concluded purchases mean?
the explanation is as follows but i still dont get it: The purchase is concluded automatically or manually. Sometimes, management approval is needed. The transfer of title may take place as soon as the order is shipped or not until after merchandise is sold by the retailer.
Can someone please help? thans 10 pts
I would use the term: the sale is finalized
Having management approval needed is an example of manual approval, a human has to trigger the action.
as soon as the order is shipped: they own it when it leaves your facilities, I assume any shipping damage is clearly the buyer's problem.
not until after merchandise is sold by the retailer: like an individual using a consignment shop, though the product is in the shop, they don't actually own it.
"The purchase is concluded automatically or manually. Sometimes, management approval is needed. The transfer of title may take place as soon as the order is shipped or not until after merchandise is sold by the retailer."
All points mentioned are relevant to purchases. Evaluation, Negotiation, etc. But you quoted conclusion as purchases. Automatic selling may refer to order placing online. For instance, you place an order of any product you wish to buy and place an order for it at its seller's website. Manual purchasing is its opposite. Manual purchasing is by contacting related source for the product you want by email, phone, etc. Both manual and automatic purchases sound similar to you but they are both different in nature. Management approval may refer to company's management for which the seller is working. Seller could be middle man selling for company overseas. The transfer title you mentioned can be the title of ownership of merchandise sold of the owner of merchandise. It may refer to receipt people deal in while importing exporting merchandise or goods. I hope it helps you.