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Evidence Guide: SIRRMRM006 - Plan a merchandise product range

Student: __________________________________________________

Signature: _________________________________________________

Tips for gathering evidence to demonstrate your skills

The important thing to remember when gathering evidence is that the more evidence the better - that is, the more evidence you gather to demonstrate your skills, the more confident an assessor can be that you have learned the skills not just at one point in time, but are continuing to apply and develop those skills (as opposed to just learning for the test!). Furthermore, one piece of evidence that you collect will not usualy demonstrate all the required criteria for a unit of competency, whereas multiple overlapping pieces of evidence will usually do the trick!

From the Wiki University

 

SIRRMRM006 - Plan a merchandise product range

What evidence can you provide to prove your understanding of each of the following citeria?

Determine merchandise-range requirements.

  1. Access and review category financial plan to determine range requirements.
  2. Profile target market and identify relevant trends to inform range planning.
  3. Source input from relevant stakeholders and use feedback to inform range planning.
  4. Review product performance information and use findings to plan range optimisation and exit strategies.
Access and review category financial plan to determine range requirements.

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Profile target market and identify relevant trends to inform range planning.

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Source input from relevant stakeholders and use feedback to inform range planning.

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Review product performance information and use findings to plan range optimisation and exit strategies.

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Generate options for merchandise range.

  1. Generate range options that respond to target market and trend information.
  2. Confirm commercial viability of range options to maximise profitability and minimise risk.
  3. Determine assortment planning including core and seasonal, and width, depth and breadth, of the range.
  4. Identify aged and carry-over stock and action strategy for clearance.
  5. Determine range option planning for Stock Keeping Unit (SKU) requirements.
  6. Accurately quantify product units to be ordered based on open-to-buy or space capacity method.
  7. Review merchandise promotional plan and ensure range aligns with planned activity.
  8. Refine range options through consultation with cross-functional teams and gain approval as required.
  9. Document finalised range identifying key features, costs and benefits.
Generate range options that respond to target market and trend information.

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Confirm commercial viability of range options to maximise profitability and minimise risk.

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Determine assortment planning including core and seasonal, and width, depth and breadth, of the range.

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Identify aged and carry-over stock and action strategy for clearance.

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Determine range option planning for Stock Keeping Unit (SKU) requirements.

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Accurately quantify product units to be ordered based on open-to-buy or space capacity method.

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Review merchandise promotional plan and ensure range aligns with planned activity.

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Refine range options through consultation with cross-functional teams and gain approval as required.

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Document finalised range identifying key features, costs and benefits.

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Plan merchandise range sourcing.

  1. Determine critical path for range sourcing and distribution.
  2. Review supplier strategy and determine range sourcing.
  3. Brief product development teams on new range.
  4. Identify product branding needs and develop branding strategy accordingly.
Determine critical path for range sourcing and distribution.

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Review supplier strategy and determine range sourcing.

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Brief product development teams on new range.

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Identify product branding needs and develop branding strategy accordingly.

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Purchase merchandise.

  1. Place merchandise order with supplier and confirm delivery schedules as per agreed supplier arrangements.
  2. Document and exchange order and invoice information according to organisational procedures.
  3. Implement and adjust orders as required.
Place merchandise order with supplier and confirm delivery schedules as per agreed supplier arrangements.

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Document and exchange order and invoice information according to organisational procedures.

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Implement and adjust orders as required.

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Plan range distribution.

  1. Communicate relevant merchandise information to stores.
  2. Determine strategy for stock allocation, replenishment and distribution based on individual store requirements.
  3. Communicate planned merchandise ranges to relevant personnel.
Communicate relevant merchandise information to stores.

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Determine strategy for stock allocation, replenishment and distribution based on individual store requirements.

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Communicate planned merchandise ranges to relevant personnel.

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Assessed

Teacher: ___________________________________ Date: _________

Signature: ________________________________________________

Comments:

 

 

 

 

 

 

 

 

Instructions to Assessors

Evidence Guide

ELEMENTS

PERFORMANCE CRITERIA

Elements describe the essential outcomes.

Performance criteria describe the performance needed to demonstrate achievement of the element.

1. Determine merchandise-range requirements.

1.1. Access and review category financial plan to determine range requirements.

1.2. Profile target market and identify relevant trends to inform range planning.

1.3. Source input from relevant stakeholders and use feedback to inform range planning.

1.4. Review product performance information and use findings to plan range optimisation and exit strategies.

2. Generate options for merchandise range.

2.1. Generate range options that respond to target market and trend information.

2.2. Confirm commercial viability of range options to maximise profitability and minimise risk.

2.3. Determine assortment planning including core and seasonal, and width, depth and breadth, of the range.

2.4. Identify aged and carry-over stock and action strategy for clearance.

2.5. Determine range option planning for Stock Keeping Unit (SKU) requirements.

2.6. Accurately quantify product units to be ordered based on open-to-buy or space capacity method.

2.7. Review merchandise promotional plan and ensure range aligns with planned activity.

2.8. Refine range options through consultation with cross-functional teams and gain approval as required.

2.9. Document finalised range identifying key features, costs and benefits.

3. Plan merchandise range sourcing.

3.1. Determine critical path for range sourcing and distribution.

3.2. Review supplier strategy and determine range sourcing.

3.3. Brief product development teams on new range.

3.4. Identify product branding needs and develop branding strategy accordingly.

4. Purchase merchandise.

4.1. Place merchandise order with supplier and confirm delivery schedules as per agreed supplier arrangements.

4.2. Document and exchange order and invoice information according to organisational procedures.

4.3. Implement and adjust orders as required.

5. Plan range distribution.

5.1. Communicate relevant merchandise information to stores.

5.2. Determine strategy for stock allocation, replenishment and distribution based on individual store requirements.

5.3. Communicate planned merchandise ranges to relevant personnel.

Required Skills and Knowledge

ELEMENTS

PERFORMANCE CRITERIA

Elements describe the essential outcomes.

Performance criteria describe the performance needed to demonstrate achievement of the element.

1. Determine merchandise-range requirements.

1.1. Access and review category financial plan to determine range requirements.

1.2. Profile target market and identify relevant trends to inform range planning.

1.3. Source input from relevant stakeholders and use feedback to inform range planning.

1.4. Review product performance information and use findings to plan range optimisation and exit strategies.

2. Generate options for merchandise range.

2.1. Generate range options that respond to target market and trend information.

2.2. Confirm commercial viability of range options to maximise profitability and minimise risk.

2.3. Determine assortment planning including core and seasonal, and width, depth and breadth, of the range.

2.4. Identify aged and carry-over stock and action strategy for clearance.

2.5. Determine range option planning for Stock Keeping Unit (SKU) requirements.

2.6. Accurately quantify product units to be ordered based on open-to-buy or space capacity method.

2.7. Review merchandise promotional plan and ensure range aligns with planned activity.

2.8. Refine range options through consultation with cross-functional teams and gain approval as required.

2.9. Document finalised range identifying key features, costs and benefits.

3. Plan merchandise range sourcing.

3.1. Determine critical path for range sourcing and distribution.

3.2. Review supplier strategy and determine range sourcing.

3.3. Brief product development teams on new range.

3.4. Identify product branding needs and develop branding strategy accordingly.

4. Purchase merchandise.

4.1. Place merchandise order with supplier and confirm delivery schedules as per agreed supplier arrangements.

4.2. Document and exchange order and invoice information according to organisational procedures.

4.3. Implement and adjust orders as required.

5. Plan range distribution.

5.1. Communicate relevant merchandise information to stores.

5.2. Determine strategy for stock allocation, replenishment and distribution based on individual store requirements.

5.3. Communicate planned merchandise ranges to relevant personnel.

Evidence of the ability to complete tasks outlined in elements and performance criteria of this unit in the context of the job role, and:

review a merchandise category financial plan to develop a merchandise range plan that includes:

assortment planning

width, depth and breadth of range

core and seasonal items

option planning

Stock Keeping Unit (SKU)

exit strategy

the above product range must contain a minimum of 20 items

document the above range plan to ensure it details:

features

costs

benefits

profitability

quantification

critical path

branding

document a plan for range sourcing and distribution:

external supply arrangements

allocation to stores

prepare documentation for the purchase of merchandise.

Demonstrated knowledge required to complete the tasks outlined in the elements and performance criteria of this unit:

role and purpose of merchandise range planning

strategies for:

maximising profitability of a product range

determining viability of product range

key aspects of merchandise product range planning:

assortment planning

width, depth and breadth of range

core and seasonal items

option planning

Stock Keeping Unit (SKU)

exit strategies

internal and external factors impacting product range planning:

feedback from stores

merchandise category buying plan

product performance information

promotional plan

target market profile information and how it is used in constructing the product range

trends in industry, and global and local trends impacting on merchandise product range

critical path

common product exit strategies

exit strategies applied to:

poorly performing products

event and promotional products

short-life-cycle products

factors influencing range allocation:

store grading

climate

target market demographic

competitors

replenishment of core lines

stock turns

supply considerations in the purchasing of merchandise

commonly-used merchandise range planning methods and structures within the retail industry.