Elements and Performance Criteria
- Analyse the operating environment.
- Access and review organisational strategic objectives and determine organisational priorities for merchandise performance in consultation with relevant personnel.
- Access and review existing and previous merchandise strategies and available performance data to inform strategy development.
- Research trends in merchandise management and use findings to inform strategy development.
- Analyse internal and external operating environments to identify opportunities and risks related to merchandise performance.
- Develop merchandise strategy.
- Identify key priorities and objectives of the merchandising strategy based on analysis of the operating environment.
- Confirm merchandise strategy is consistent with the direction and objectives of the organisation.
- Confirm strategy execution can be supported by organisational structures and resourcing.
- Establish performance criteria to evaluate merchandise strategy performance.
- Ensure strategy can be adapted in response to environmental opportunities and threats.
- Develop a strategy action plan detailing key activities, responsibilities and timeframes.
- Obtain input from relevant personnel and make adjustments to strategy based on feedback received.
- Finalise merchandise strategy and gain required approval.
- Communicate merchandise strategy and action plan to relevant personnel.
- Review merchandise strategy.