Elements and Performance Criteria
- Review organisational financial information.
- Access and review merchandise strategy to determine financial and merchandise objectives for a specified trading period.
- Access and review organisational profit and loss statement to determine organisational financial position and objectives as required.
- Review post-trade analysis data to determine past merchandise financial performance.
- Source and analyse relevant internal and external factors impacting merchandise financial planning.
- Identify merchandise financial planning activity that will maximise profitability and organisational financial performance.
- Develop merchandise financial plan.
- Plan sales value for the specified trading period using organisational systems and processes.
- Determine gross profit margins that meet financial objectives.
- Plan markdown value to account for potential markdowns and shrinkage and to minimise profit loss.
- Plan optimal inventory values against key performance indicators that maximise profitability and minimise loss.
- Review organisational promotional plan to determine impacts of planned promotional activity on sales, inventory and profit planning.
- Establish merchandise performance indicators.
- Document sales, inventory and profit values using established organisational systems and processes.
- Obtain input from relevant personnel and make adjustments to merchandise financial plan based on feedback received.
- Finalise merchandise financial plan and gain approval as required.
- Communicate merchandise financial plan to relevant personnel.
- Review and re-plan merchandise financial plan.
- Review in-trade financial performance against actual and budgeted sales, profit and inventory values.
- Investigate and account for variances in sales, inventory and profit values.
- Identify available rebates and incorporate into merchandise financial plan as required.
- Re-plan sales, profit and inventory values in response to the actual sales results.
- Re-plan sales, profit and inventory values in response to internal and external influences on performance.