ROLES AND RESPONSIBILITIES OF MERCHANDISER AND BUYER

Presented By:

Ankit Sonkar

Rahul Gautam

Shankar Kumar Jha

Ratnesh Kumar Mishra

ROLE &RESPONSIBILITY OF BUYER

PLANNING AND SELECTING A RANGE OF PRODUCTS TO SELL IN RETAIL OUTLETS.

THE BUYER MUST CONSIDER THE FOLLOWING FACTORS WHEN MAKING PURCHASING DECISIONS:

Customer demand

(price, quality) and availability

Market trends

Store policy

Financial budgets

SOURCE NEW MERCHANDISE AND REVIEW EXISTING ONES TO ENSURE PRODUCTS REMAIN COMPETITIVE.

PROVIDE A COMMERCIALLY VIABLE RANGE OF MERCHANDISE AT COMPETITIVE PRICES. KEEPING UP TO DATE WITH MARKET TRENDS AND REACTING TO CHANGES IN DEMAND ARE KEY ELEMENTS OF THE ROLE.

MANAGING PLANS FOR STOCK LEVELS

REACTING TO CHANGES IN DEMAND

ANALYZING CONSUMER BUYING PATTERNS AND PREDICTING FUTURE TRENDS

REGULARLY REVIEWING PERFORMANCE INDICATORS, E.G. SALES AND DISCOUNT LEVELS

REACTING TO CHANGES IN LOGISTICS

MEETING SUPPLIERS AND NEGOTIATING TERMS OF CONTRACT

MAINTAINING RELATIONSHIPS WITH EXISTING SUPPLIERS AND SOURCING NEW SUPPLIERS FOR FUTURE PRODUCTS

LIAISING WITH OTHER DEPARTMENTS WITHIN THE ORGANIZATION TO ENSURE PROJECTS ARE COMPLETED

ATTENDING TRADE FAIRS, TO SELECT AND ASSEMBLE A NEW COLLECTION OF PRODUCTS

WRITING REPORTS AND FORECASTING SALES LEVELS

PRESENTING NEW RANGES TO SENIOR RETAIL MANAGERS

LIAISING WITH SHOP PERSONNEL TO ENSURE PRODUCT/COLLECTION SUPPLY MEETS DEMAND

SEEKING MERCHANDISE FEEDBACK FROM CUSTOMERS

TRAINING AND MENTORING JUNIOR STAFF

ROLE &RESPONSIBILITY OF MERCHANDISER

WORKING CLOSELY WITH THE BUYING TEAMS TO ACCURATELY FORECAST TRENDS

PLAN STOCK LEVELS AND MONITOR PERFORMANCE

WHILE THE BUYER SELECTS THE LINES, THE MERCHANDISER DECIDES HOW MUCH MONEY SHOULD BE SPENT, HOW MANY LINES SHOULD BE BOUGHT, AND IN WHAT QUANTITIES.

SET THE PRICES TO MAXIMIZE PROFITS

MANAGE THE PERFORMANCE OF THE RANGES, PLANNING PROMOTIONS AND MARKDOWNS AS NECESSARY.

OVERSEE THE DELIVERY AND DISTRIBUTION OF THE STOCK AND DEAL WITH PROBLEMS WITH SUPPLIERS AS THEY ARISE.

PLANNING PRODUCT RANGES AND PREPARING SALES AND STOCK PLANS IN CONJUNCTION WITH BUYERS

LIAISING WITH BUYERS, ANALYSTS, STORES, SUPPLIERS AND DISTRIBUTORS

MAINTAINING A COMPREHENSIVE LIBRARY OF APPROPRIATE DATA

PRODUCING LAYOUT PLANS FOR STORES

FORECASTING PROFITS AND SALES USING COMPUTER PROGRAMS

OPTIMIZING THE SALES VOLUME AND PROFITABILITY OF DESIGNATED PRODUCT AREAS

PLANNING BUDGETS AND PRESENTING SALES FORECASTS AND FIGURES FOR NEW RANGES

CONTROLLING STOCK LEVELS BASED ON FORECASTS FOR THE SEASON

ANALYZING EVERY ASPECT OF THE BEST AND WORST SELLERS (FOR EXAMPLE, THE BEST SELLING PRICE POINTS, COLOURS OR STYLES)

ENSURING THAT BEST SELLERS ARE FULLY POTENTIALISED;

MONITORING SLOW SELLERS

TAKING ACTION TO REDUCE PRICES OR SET PROMOTIONS AS NECESSARY

GATHERING INFORMATION RELATING TO THE CUSTOMER REACTION TO PRODUCTS

ANALYZING PREVIOUS SEASON'S SALES AND REPORTING ON THE CURRENT SEASON'S LINES

ACCOMPANYING BUYERS ON VISITS TO MANUFACTURERS TO APPRECIATE PRODUCTION PROCESSES

VISITING SUPPLIERS AND STORES FOR BEST/WORST SELLER MEETINGS

MEETING WITH SUPPLIERS AND MANAGING THE DISTRIBUTION OF STOCK, POSSIBLY NEGOTIATING COST PRICES WITH SUPPLIERS

IDENTIFYING PRODUCTION AND SUPPLY DIFFICULTIES AND DEALING WITH THEM AS AND WHEN THEY OCCUR

MANAGING, TRAINING AND SUPERVISING STAFF

Thank You