Elements and Performance Criteria
- Determine category planning requirements.
- Access and review organisational merchandise financial plan to determine category financial planning requirements at the category and sub-category level.
- Profile target market and identify relevant trends to optimise sales opportunities within category plan.
- Determine open-to-buy or space capacity for the trading period.
- Determine strategies and pricing structures to achieve gross margin and margin mix.
- Develop category financial plan.
- Plan and calculate inventory values using open-to-buy or space capacity method for each category.
- Allocate inventory value to core and seasonal lines.
- Assess risk level of inventory within each category and plan markdown value and stock exit strategy to maximise profitability and maintain inventory at budgeted levels.
- Review promotional plan to determine impacts of planned promotional activity on category planning.
- Identify and hold back a percentage of category plan spend for reaction to trade.
- Document category plan using established organisational systems and processes.
- Obtain input from relevant personnel and make adjustments to category financial plan based on feedback received.
- Finalise category financial plan and gain required approval.
- Communicate category financial plan to relevant personnel to inform range planning and merchandise buying.
- React to trade.