Elements and Performance Criteria
- Undertake post trade analysis.
- Complete a post trade analysis to review past performance against planned performance, identifying missed opportunities.
- Analyse customer buying patterns, and predict future trends.
- Consult relevant stakeholders for input on post trade analysis and future range strategy.
- Determine strategy.
- Communicate strategy to relevant personnel and seek input and approval as required.
- Develop merchandise plan.
- Review marketing calendar and new store openings and closures as required.
- Establish base line sales and gross margin requirements.
- Plan buying margin, markdowns, shrinkage and other reductions.
- Determine open to buy, weeks cover or other stock measures.
- Determine width and depth of range.
- Quantify products to be ordered.
- Respond to trade.
- Evaluate sales against plans and performance benchmarks and interpret impact to the forward plan.
- Manage merchandise plan in response to sales and account for variances in sales trends.
- Adjust purchases within the merchandise plan, and manage slow moving surplus stock or aged stock to minimise impact on overall margin.
- Consolidate stock as required.