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DartmouthX: Retail Fundamentals

4.5 stars
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Learn key components of the retail business, including forecasting, inventory management, product assortment planning and pricing from TuckX and the Tuck School of Business at Dartmouth.

4 weeks
3–5 hours per week
Self-paced
Progress at your own speed
Free
Optional upgrade available

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Starts Nov 5
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Retail Fundamentals

About this course

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In this course, part of the Retail Management Professional Certificate program, you will learn the four key components of the retail business:

  • Demand forecasting,
  • Inventory management
  • Assortment planning
  • Pricing decisions

You will learn about the different challenges that retailers face and have the opportunity to explore methods and techniques available to address these challenges. You will also have access to simulation tools to better internalize the concepts.

The course will take a hands-on, problem driven approach that will help you understand and put into practice the concepts you learn. At the end of the course you, will be able to make better decisions at every step of the retail process.

We have designed this course to suit a wide variety of participants, from retail owners and store managers, to undergrad business majors or specialists in retail.

At a glance

  • Language: English
  • Video Transcript: English
  • Associated programs:
  • Associated skills:Inventory Forecasting, Retail Management, Management, Forecasting, Planning, Product Assortment

What you'll learn

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  • How to generate and evaluate Sales Forecasts
  • How to plan and optimize your Inventory Management
  • How to think and decide on Product Assortment
  • How to find the best prices for your products

Syllabus

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Week 1: Demand Forecasting

  • Introduction to Forecasting
  • Forecasting With History
  • Forecasting Without History
  • Measuring Uncertainty
  • Forecasting Aggregation and Lead Time
  • Common Pitfalls in Forecasting

Week 2: Inventory Management

  • Retailers as Inventory Managers
  • Drivers and Cost of Inventory
  • Balancing Ordering and Holding Costs
  • Selling Under Uncertainty: The Newsvendor Model
  • Safety Inventories

Week 3: Assortment Planning

  • Introduction to Assortment Planning
  • Breath and Basket Effect
  • Depth and Category Management
  • Variety Trade Offs
  • Customer's Assortment Perception

Week 4: Pricing Decisions

  • Introduction to Pricing Decisions
  • Setting Retail Prices
  • The Right Price
  • Promotions and Discounts
  • Price Perception

This course is part of Retail and Omnichannel Management Professional Certificate Program

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Expert instruction
2 skill-building courses
Self-paced
Progress at your own speed
2 months
3 - 5 hours per week

Ways to take this course

Choose your path when you enroll.

Certificate

Free

Price

$249 USD

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Access to course materials

Unlimited

Limited

Expires on Dec 3

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Shareable certificate upon completion

Graded assignments and exams

Read our FAQsin a new tab about frequently asked questions on these tracks.

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