Retail Operations in Indoor Climbing Gyms-Retail-Glossary

Pdf Summary

This document is a glossary of 20 common retail terms for retailers, especially useful for climbing or specialty retail businesses. It defines key concepts related to ordering, inventory, pricing, merchandising, and vendor relationships.

Examples include:
- <strong>ASAP order</strong>: an order needing immediate release.
- <strong>Back order</strong> and <strong>back stock</strong>: delayed incoming items versus inventory stored for later replenishment.
- <strong>COGS (Cost of Goods Sold)</strong> and <strong>margin</strong>: the cost of an item and the profit earned from selling it.
- <strong>Front stock</strong>, <strong>hard goods</strong>, <strong>soft goods</strong>, and <strong>consumables</strong>: categories of inventory or product types.
- <strong>Lead time</strong>, <strong>pre-season order</strong>, <strong>terms/dating</strong>, and <strong>OTB (Open To Buy)</strong>: planning and purchasing concepts that affect cash flow and inventory management.
- <strong>MAPP</strong> and <strong>markdowns</strong>: pricing policies and discounting rules.
- <strong>Merchandising</strong>, <strong>POP displays</strong>, and <strong>POS systems</strong>: how products are presented and sold.
- <strong>Turns</strong>: how often inventory is sold through and replaced, with higher turns generally being better.

The glossary helps retailers understand how to manage stock, price products, work with vendors, and plan inventory efficiently.

Asset Caption

A handy guide to common retail industry lingo

Keywords

retail glossary

inventory management

ordering terms

pricing policies

merchandising

vendor relationships

COGS

margin

lead time

open to buy