Spring Break
How professors can save students money
Derek Simons
Issue date: 12/1/08 Section: News
One common myth among professors, Eisentrager said, is they need to know exactly how many students will be enrolled in the class.
"We calculate our book orders individually for each class using historical data integrated with enrollment data updated three times a week," Eisentrager said.
He said UMKC Bookstores, using these methods, typically has about 30 percent of inventory left over, only slightly above the national average.
"All the professors need to do is tell us what titles they need," he said. "We do the rest - it's our job."
Another method for saving students money is for professors to avoid ordering books bundled with other materials, such as study guides, CDs or online-access scratch card codes.
"Publishers have become smarter," Eisentrager said. "And book reps earn higher commissions when selling these bundles to professors. The online codes can be used only once, and the CDs are often only valid for 120 days."
He said professors can also negotiate with salesmen.
"If you're ordering a textbook for 150 students, ask for a lower price," Eisentrager said. "They'll usually give it to you. They'll still be making money."
UMKC Bookstores buys in bulk together with the University of Missouri-Columbia (MU) and the Missouri University of Science and Technology. Together, the three schools represent 60,000 students, making the group fourth in the nation in sales, according to Dennis Cesari, assistant vice chancellor for Business Services.
"But we're ranked around number 40 in overall gross margin that we put on our products," Eisentrager said. "We're not sticking it to our students."
MU started managing UMKC's operations in December 2005.
"At the time, the bookstore here on campus had a $1.9 million deficit," Cesari said.
He said the operation receives no funding from the university and must cover all of its own operating costs, but since then, with 100 percent of net revenue remaining on this campus, the deficit has been reduced by $860,000, with last year alone bringing in $340,000.
"When the deficit is paid off, it is the administration's intent that any future proceeds will go to some student-related function," Cesari said.
dsimons@unews.com
"We calculate our book orders individually for each class using historical data integrated with enrollment data updated three times a week," Eisentrager said.
He said UMKC Bookstores, using these methods, typically has about 30 percent of inventory left over, only slightly above the national average.
"All the professors need to do is tell us what titles they need," he said. "We do the rest - it's our job."
Another method for saving students money is for professors to avoid ordering books bundled with other materials, such as study guides, CDs or online-access scratch card codes.
"Publishers have become smarter," Eisentrager said. "And book reps earn higher commissions when selling these bundles to professors. The online codes can be used only once, and the CDs are often only valid for 120 days."
He said professors can also negotiate with salesmen.
"If you're ordering a textbook for 150 students, ask for a lower price," Eisentrager said. "They'll usually give it to you. They'll still be making money."
UMKC Bookstores buys in bulk together with the University of Missouri-Columbia (MU) and the Missouri University of Science and Technology. Together, the three schools represent 60,000 students, making the group fourth in the nation in sales, according to Dennis Cesari, assistant vice chancellor for Business Services.
"But we're ranked around number 40 in overall gross margin that we put on our products," Eisentrager said. "We're not sticking it to our students."
MU started managing UMKC's operations in December 2005.
"At the time, the bookstore here on campus had a $1.9 million deficit," Cesari said.
He said the operation receives no funding from the university and must cover all of its own operating costs, but since then, with 100 percent of net revenue remaining on this campus, the deficit has been reduced by $860,000, with last year alone bringing in $340,000.
"When the deficit is paid off, it is the administration's intent that any future proceeds will go to some student-related function," Cesari said.
dsimons@unews.com
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Business Opportunities
posted 12/06/08 @ 5:00 AM CST
Maybe you should be more agressive at getting the professors to get their orders in earlier. Students can use all the help that they can get in saving money. (Continued…)
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